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United Bank of India Awards Accenture Two-Year Management Consulting Agreement to Support its Strategic Transformation Program

  United Bank of India Awards Accenture Two-Year Management Consulting
  Agreement to Support its Strategic Transformation Program

Business Wire

KOLKATA, India -- December 22, 2012

United Bank of India (UBI), a leading public sector bank from the East, is
embarking on a transformation program to enhance its productivity by
harnessing technology and operational changes. UBI has signed an agreement
with Accenture (NYSE: ACN), which will provide management consulting advisory
services to support the bank’s strategic transformation program.

“The needs of our customers are constantly changing,” said Mr. Bhaskar Sen,
chairman and managing director, United Bank of India. “Through our
transformation we will embrace new approaches to banking that put our
customers -- both existing and prospective – at the center, while
strengthening profitability. Accenture is a global leader in providing
consulting services to the banking industry and we are pleased to have their
assistance to develop a world-class strategy.”

Accenture will advise the bank on ways to develop and optimize its operating
model, with a significant focus on strengthening the bank’s branch network and
other customer channels. This will include assisting UBI with ways to renew
and optimize its more than 1,700 branches, enhance the sales-effectiveness of
its branch workforce, and improve and refine its branch footprint. Accenture
also will help the bank identify ways to increase adoption of digital channels
such as online banking and social media.

“The customer experience determines the success of all financial
institutions,” said Piyush Singh, managing director of Accenture’s financial
services operating group in India. “By envisioning a more effective
customer-led -- rather than product led -- channel strategy, UBI shows strong
foresight. It is one of the few public sector banks in India to seek to
transform itself in this way, and we are proud to collaborate with the bank in
its journey.”

Under the contract, Accenture also will assist UBI in its talent and human
resource strategies by helping to enhance its manpower planning, establish
performance management systems that foster meritocracy and by developing a
five-year roadmap for developing critical employee skills through training.

About Accenture

Accenture is a global management consulting, technology services and
outsourcing company, with approximately 259,000 people serving clients in more
than 120 countries. Combining unparalleled experience, comprehensive
capabilities across all industries and business functions, and extensive
research on the world’s most successful companies, Accenture collaborates with
clients to help them become high-performance businesses and governments. The
company generated net revenues of US$27.9 billion for the fiscal year ended
Aug. 31, 2012. Its home page is www.accenture.com.

About United Bank of India

United Bank of India (UBI) is one of the country’s 14 major banks that were
nationalized on July 19, 1969. Its predecessor the United Bank of India Ltd.,
was formed in 1950 with the amalgamation of four banks viz. Comilla Banking
Corporation Ltd. (1914), Bengal Central Bank Ltd. (1918), Comilla Union Bank
Ltd. (1922) and Hooghly Bank Ltd. (1932) (which were established in the years
indicated in brackets after the names). The origin of the Bank thus goes as
far back as to 1914. Today the Bank is 100 percent core banking system enabled
with more than 1,700 branches and offices and has a total business of more
than Rs 1.5 lac crore. Presently the Bank has a three-tier organizational
set-up consisting of the Head Office, 33 Regional Offices and the Branches.

Contact:

Accenture
Girish Bhosle, + 98 92027679
girish.bhosle@accenture.com
or
Accenture
Sean Conway, + 917 592 5744
sean.k.conway@accenture.com
 
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