Page 6 - Union Bank Of India

Union Bank of India reduces lending rates by 75 bps in line with RBI cut

The new rate will be applicable for all floating-rate personal or retail loans (such as housing and automobiles) and floating-rate loans to micro, small and medium enterprises

Covid-19 crisis: UBI sets up emergency funding window for corporates, MSMEs

All MSME/agriculture borrowers are eligible for a loan up to Rs 10 crore and others up to Rs 50 crore

Union Bank Q3 PBT up over three fold to Rs 582 cr on dip in NPA provision

Better number also aided by NII, which saw an uptick of 25.7%

Budget 2020: How will the FM tackle the economic challenge before India?

A K Bhattacharya answers questions about Budget 2020

Baroda, Union MFs bank on mergers to increase their market share

AUM of both companies declined in September quarter

Financial sector needs to rebuild trust, says YES Bank CEO Ravneet Gill

Edited excerpts from a discussion at the Business Standard Banking Round Table held in Mumbai

Sebi grants exemption to govt from making open offer to UBI shareholders

The Sebi order for exemption comes following an application filed by the bank in November on behalf of its promoter

PNB, Union Bank get in-principal nod from govt for proposed merger

According to this, United Bank of India and Oriental Bank of Commerce will be merged with Punjab National Bank, making the proposed entity the second largest public sector bank (PSB).

Will step up recoveries, increase provisions in H2: Union Bank of India CEO

The outstanding NPAs in large corporate category have declined while that of MSME rose marginally, says CEO Rajkiran Rai

Branch rationalisation to HR challenge: Brokerage view on PSB consolidation

Unlike private banks, most PSBs, analysts say, do not have clear specialisations and end up competing against each other

Government creates banking behemoths to boost India's flagging economy

News of the mergers comes minutes before official data is expected to confirm a fifth-straight quarter of slowing economic growth

Public sector banks merger: Modi govt to announce big bang plan soon

Finance ministry has called a meeting with chief executives of ten public sector banks on Friday

DHFL resolution: Banks may convert debt into equity, says Union Bank

DHFL has become the poster-boy of the NBFC crisis that afflicted the financial sector after the infra-lender IL&FS went belly up last September

150,000 bankers to discuss how to make India $5-trillion economy by 2024

To contain high bad loans in the MUDRA scheme, the managers suggested that a national portal be floated to verify the borrower and whether multiple lending has happened

UBI mulls special loan offers for start-ups, brainstorms on $5-trn GDP goal

The PSB has organised a meeting of all branch heads wherein collective consultative and ideation process was undertaken to align banking with national priorities

Union Bank's move to send eviction notice to flat owners illegal: Experts

The state-run bank had on August 5 asked around 200 families living in Gardenia Gateway society in Sector 75 of Noida to evict premises by August 20

Union Bank of India Q1 net profit rises 73% as provisions decline

The net interest income of the lender saw a 4 per cent decline at Rs 2,519 crore in this quarter

Union Bank Q3 net at Rs 153.2 cr; other income up, NPA provisions decline

It had posted a net loss of Rs 124.98 crore in October-December 2017 (Q3Fy18)

United Bank of India net loss widens to Rs 8.8 billion; gross NPA rises

The gross NPA as a percentage of total lending stood at 22.69%, while net NPA stood at 14.36%

Union Bank Q2 profit jumps to Rs 1.39 bn, beats analysts estimates

Analysts on an average had expected a loss of Rs 937 million, according to Refinitiv data