Page 3 - Union Bank Of India

Supertech stares at insolvency amid heat of twin-tower demolition

Supertech fought a long and draining legal battle to protect its twin towers -- having over 900 flats and 21 shops -- against demolition, which had been ordered for violation of building bylaws

Micro details of Indian banks' macro story

So far, the story reads well. We'll need to wait a couple of years to see how many restructured loans turn bad and whether some banks fall victim to their obsession for growth

Supertech insolvency: NCLAT stays formation of committee of creditors

During the proceedings before the appellate tribunal, Supertech Ltd's counsel requested for adjourning the matter for a week to enable it to approach the bank for negotiations.

Union Bank launches super-app UnionNXT, digital project SMBHAV

Will invest Rs 1,000 cr in FY23; plans to rationalise metro branches as digitisation progresses

Union Bank of India to sell its 8% stake in ISARC to Dhansamridhi Finance

Union Bank of India on Wednesday said it will sell its 8 per cent stake in India SME Asset Reconstruction Company.

BBB recommends A Manimekhalai to MD & CEO post at Union Bank of India

Also calls for A K Choudhary's appointment as SBI managing director

Union Bank of India raises Rs 1,500 cr through Basel-III compliant bonds

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

Union Bank of India plans to raise Rs 1,500 crore through AT1 bond

The bank had capital adequacy ratio of 13.92 per cent with tier I of 11.75 per cent at end of December 2021

Union Bank, NPCI launch credit card for MSME borrowers to meet biz expenses

Additionally, they will also be benefitted in the form of accidental insurance coverage of up to Rs 10 lakh, domestic airport lounge access of two times per quarter, and other rewards

Union Bank of India looks to move to a new tax regime in FY23

Rajkiran Rai G, managing director (MD) & chief executive officer (CEO), Union Bank, sa­id the net profit is increasing as DTA is coming down every quarter.

Union Bank Q3 net up 49.3%; provisions & contingencies fall sharply

NII rises 8.9% to Rs 7,174 cr; gross NPAs declin to 11.62% in December 2021 from 13.49% a year ago

Nifty PSU Bank index soars 5%; SBI hits record high, up 3%; BOB zooms 10%

The Nifty PSU Bank index climbed to a fresh two-year high even as the NSE benchmark slipped a per cent.

BBB invites applications for position of Union Bank of India MD

The post of MD and CEO would fall vacant at Mumbai-based Union Bank of India upon retirement of Rajkiran Rai G in May 2022

Union Bank of India raises Rs 1,500 crore via Basel-III compliant bond

State-run Union Bank of India has raised Rs 1,500 crore by issuing Basel III compliant bonds on a private placement basis.

RBI imposes penalty of Rs 1 crore on Union Bank of India

This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers, says RBI

Union Bank of India, Capri Global Capital tie up for co-lending to MSMEs

The co-lending agreement aims to enhance last-mile finance and drive financial inclusion to MSMEs

Union Bank of India to allot Basel III bonds of Rs 2,000 cr next week

Union Bank of India on Thursday said it will allot Basel III compliant bonds next week on a private placement basis, for which it has accepted bids worth Rs 2,000 crore. The bank has considered the issuance of Basel III compliant debt instruments in the nature of debentures of Rs 500 crore, with green shoe option up to Rs 1,500 crore (maximum Rs 2,000 crore) on private placement basis, the bank said in a regulatory filing. The bonds are eligible for inclusion in additional tier I capital, it said. The bonds, with face value of Rs 1 crore each, are perpetual in nature and bear coupon of 8.70 per cent per annum. Perpetual bonds carry no maturity date, so they may be treated as equity, not as debt. The deemed date of allotment of bonds is November 22, 2021, the state-owned lender said. The bonds are rated 'AA'/stable by India Ratings & Research and Crisil.

Union Bank of India's consolidated net profit jumps 183% to Rs 1,510 crore

Union Bank of India on Tuesday reported a 183 per cent jump in its consolidated net profit to Rs 1,510 crore for the September 2021 quarter

Union Bank of India cuts home loan rate to its lowest at 6.4%

The minimum rate of interest now starts at 6.40 per cent, instead of 6.8 percent earlier

Union Bank of India at 52-week high, stock rallies 42% so far in October

Post merger of Andhra Bank and Corporation Bank, Union Bank has raised capital which has improved the capitalisation levels of the bank enhancing its ability to absorb asset quality pressures