Union Bank of India has announced a key leadership change with the appointment of Mr. Ashish Mishra as Company Secretary and Compliance Officer, effective immediately. The appointment was communicated to stock exchanges through a regulatory filing under Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, dated January 28, 2026.

Leadership Transition Details

Mr. Ashish Mishra assumes the role previously held by Mr. Mangesh Mandrekar, who has been transferred from his position as Board Secretary and Company Secretary. The transition is part of the bank's internal organizational restructuring.

Professional Profile of New Appointee

Mr. Ashish Mishra brings extensive experience and qualifications to his new role. He holds multiple professional certifications and has demonstrated expertise across various banking functions over more than two decades.

Qualifications and Experience

Contact Information

The bank has provided complete contact details for the new Company Secretary and Compliance Officer to ensure seamless communication with stakeholders:

Mr. Ashish Mishra
Company Secretary & Compliance Officer
Email: ashish@unionbankofindia.bank.in
Board Secretariat, Investor Services Division
12th Floor, Union Bank Bhavan, Vidhan Bhavan Marg,
Nariman Point, Mumbai-400 021
Contact No.: 022-22896643

Regulatory Compliance

The appointment has been made in compliance with Regulation 6(1) read with Clause No. 7 of Para A of Part A of Schedule III of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. This ensures adherence to all regulatory requirements for key managerial personnel changes in listed companies.

The formal communication was signed by Mr. Mangesh Mandrekar in his capacity as Authorized Signatory, marking the official transition of responsibilities. The bank has informed both BSE Limited and National Stock Exchange of India Limited about this key personnel change as part of its disclosure obligations.

Union Bank of India has announced comprehensive strategic projections for its upcoming performance, highlighting expectations of low credit costs, controlled operational expenses, and stronger loan growth. The bank's management has outlined multiple initiatives aimed at enhancing performance across key operational and financial areas.

Credit Cost Management and Expectations

The bank expects to maintain low credit costs in the coming period, reflecting improved asset quality management and robust risk assessment frameworks. This projection indicates the bank's confidence in its lending practices and portfolio quality, suggesting effective credit risk management strategies are yielding positive results.

Operational Expense Control Through Efficiency Initiatives

Union Bank of India is actively managing operational expense growth through targeted efficiency initiatives. The bank's approach to controlling opex demonstrates management's commitment to maintaining cost discipline while supporting business expansion. These efficiency measures are designed to optimize operational performance without compromising service quality or growth objectives.

Loan Growth and NIM Enhancement Strategy

The bank anticipates significantly stronger loan growth in the next quarter, with management expressing confidence in achieving growth rates that align with industry standards. Additionally, Union Bank expects its Net Interest Margin to improve through deposit repricing strategies and leveraging rate cut benefits.

Comprehensive Performance Outlook

The bank's multi-faceted approach encompasses cost management, growth acceleration, and margin optimization. The combination of low credit cost expectations, controlled operational expenses, and stronger loan growth projections reflects Union Bank's strategic positioning for enhanced financial performance in the competitive banking landscape.

These developments demonstrate Union Bank of India's balanced approach to sustainable growth while maintaining operational efficiency and risk management standards.