Union Bank

No decision has been taken on how to utilise this money for green initiatives and the government is yet to come out with any guidelines too

State-owned lender's loan book grows 20.09% YoY to Rs 8.04 trn, asset quality improves

Public sector lender plans tier I bond of Rs 700 crore before financial year closes

Tier-2 bond sale plan comes amid sharp decline in bond yields

Three others got permission earlier, but no deal so far

Its net interest margin (NIM) improved to 3.15 per cent in Q2FY23 from 2.95 per cent in Q2FY2

The lender's board approved raising equity capital up to Rs 3,800 crore, within overall limit of Rs 8,100 crore, said the company in filing with BSE

State-owned Union Bank of India (UBI) on Thursday said its board of directors has approved raising up to Rs 8,100 crore by issuing equity shares through various modes. The board of directors, in its meeting held on May 26, considered and approved raising of equity capital not exceeding Rs 3,800 crore, within the overall limit of Rs 8,100 crore, the bank said in a regulatory filing. Besides, the lender got the approval for raising of additional tier I (AT I) and/or tier II bonds not exceeding Rs 4,300 crore within the overall limit of Rs 8,100 crore, it said. The equity funds are to be raised through various modes such as public issue of shares (follow on public offer) or rights issue or on a private placement basis. Likewise, the funds to be raised by issuing bonds can be raised through issuance of green or foreign currency denominated AT I/II bonds. UBI said it will seek approval from the shareholders for the proposed fund raising plan in its Annual General Meeting (AGM) schedul

It had posted a net profit of Rs 1,330 crore in Q4FY21

The lender had logged a net profit of Rs 1,330 crore in the same quarter of previous fiscal year

A total of 38 non-performing accounts - amounting to Rs 82,845 crore - were identified for transfer to NARCL, in a phased manner

The bank has allotted unsecured, subordinated, non-convertible, taxable, perpetual, fully paid-up Basel III compliant additional tier-I bonds in the nature of debentures, aggregating to Rs 1,500 crore

Close to 50 per cent of retail and MSME loans offered by banks will shift to digital lending platforms over next two to three years, Rajkiran Rai G said on Thursday.

Mirroring the trend set by several other PSBs also reporting higher profitability in the current year

Till March, banks could hold on but not all of them will be in a position to stomach the impact of the second wave of the pandemic

Govt has appointed 14 EDs at public-sector banks; their performance will be reviewed after three years for a two-year extension

Union Banks it has completed IT integration of all branches of erstwhile Andhra Bank with itself

Shareholders of Union Bank of India approved the bank's proposal for raising up to Rs 6,800 crore equity capital to fund business growth

SPCPL, being in the construction and real estate sector, has been severely affected due to Coviod-19

Of the 12 PSBs, SBI reported the maximum 2,050 fraud cases involving Rs 2,325.88 crore during April-June 2020