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Latest news about Union Bank of India

Union Bank of India Reports Mixed Q1 Results with Declines in Key Metrics 1 day ago Yesterday

Union Bank of India's Q1 business update reveals a 2.40% quarter-on-quarter decrease in advances to ₹12.40 lakh crore. Global Total Deposits declined, with CASA deposits dropping by 5.00% QoQ to ₹4.03 lakh crore. Despite these sequential declines, both deposits and advances showed year-on-year growth. The bank's stock price fell by nearly 6.00% following the update.

Union Bank of India: Q1 Business Grows 5%, Retail Advances Surge 26% 1 day ago

Union Bank of India Unveils Rs 6,000 Crore Fundraising Plan Jun 26, 2025

Union Bank of India Unveils ₹60 Billion Capital Raising Plan Jun 25, 2025

Union Bank of India Unveils Rs 6,000 Crore Fundraising Plan Jun 25, 2025

More news about Union Bank of India

25Jun 25

Union Bank of India: Executive Director Demoted Amid Legal Controversy

Pankaj Dwivedi, former Executive Director at Union Bank of India, has been demoted to General Manager at Punjab & Sind Bank. This action follows a legal challenge in the Delhi High Court questioning the legitimacy of Dwivedi's appointment, citing lack of vigilance clearance. The case is ongoing, and the outcome could have implications for appointment processes in public sector banks.

23May 25

RBI Slaps ₹63.6 Lakh Fine on Union Bank for Regulatory Violations

The Reserve Bank of India (RBI) has imposed a penalty of ₹63.60 lakh on Union Bank of India for non-compliance with regulations. The bank failed to transfer unclaimed deposits to the Depositor Education and Awareness Fund within the required timeframe and accepted improper collateral for small agricultural loans. This action highlights the RBI's strict stance on regulatory compliance in the banking sector.

13May 25

Union Bank of India Unveils 'Union Wellness Deposit' with Health Insurance and Attractive Returns

Union Bank of India has introduced 'Union Wellness Deposit', a new term deposit scheme offering a 6.75% interest rate for a 375-day tenure, along with ₹5 lakh health insurance coverage and lifestyle benefits. The scheme requires a minimum investment of ₹10 lakh and allows a maximum of ₹3 crore, targeting resident individuals aged 18-75 years.

12May 25

Union Bank of India Reports Robust Q4 Performance: Net Profit Soars 50% YoY

Union Bank of India's Q4 FY24-25 results show impressive growth with net profit up 50.57% YoY to Rs 4,984.90 crore. Revenue increased 7.07% to Rs 33,254.30 crore, and operating profit grew 7.43% to Rs 18,778.30 crore. EPS rose 47.74% to Rs 6.53. The bank faces potential challenges including margin pressure due to anticipated RBI rate cuts and below-target loan growth of 8.62% for FY25. The bank remains cautious about FY25 guidance due to economic uncertainties.

09May 25

Union Bank of India: Q4 Profit Surges 50% on Strong Treasury Gains, Reports Robust FY23 Performance

Union Bank of India announced impressive Q4 FY23 results with a 50% year-over-year increase in net profit to ₹4,985.00 crore, driven by doubled treasury gains. Full-year net profit rose 32% to ₹17,987.00 crore. The bank's loan book grew 8.6% to ₹9.80 lakh crore, while deposits increased 7.2% to over ₹13.00 lakh crore. Asset quality improved with Gross Non-Performing Assets ratio at 3.60%.

08May 25

Union Bank of India: Q4 Profit Surges 51%, Dividend Declared

Union Bank of India announced strong Q4 FY2023-24 results with net profit soaring 51% YoY to ₹4,984.90 crore. Net Interest Income grew 0.8% to ₹9,514.00 crore. The bank's asset quality improved with GNPA ratio decreasing to 3.60% from 3.85% QoQ. A dividend of ₹4.75 per share was declared for FY2024-25.

07May 25

Union Bank of India Sets Date for Q4 and FY25 Results, Dividend Consideration

Union Bank of India will announce its Q4 and FY25 financial results on May 8, 2025. The board will also consider recommending a dividend for FY25. An earnings call is scheduled for May 9, 2025, at 12:00 PM. The bank has implemented a trading window closure for insiders until 48 hours after the results declaration.

07May 25

Union Bank of India Clarifies Book Purchase Controversy, Assures No Material Impact

Union Bank of India (UBI) has responded to concerns over a scrutinized book purchase, stating it does not significantly affect operations or finances. The bank acknowledged lapses in the procurement process and has initiated an internal examination. UBI emphasized transparency and reassured stakeholders of its stability, demonstrating commitment to corporate governance.

06May 25

Union Bank of India Clarifies Book Procurement Irregularities

Union Bank of India has acknowledged irregularities in its book procurement process, which are currently under examination. The bank assures that these issues do not materially impact its operations or financial standing. Union Bank is committed to transparency and is proactively addressing the concerns, demonstrating its dedication to maintaining trust and credibility in the banking sector.

06May 25

Union Bank Staff Union Raises Alarm Over 'Wasteful' Book Expenditure

The All India Union Bank Employees' Association (AIUBEA) has demanded an investigation into Union Bank of India's (UBI) alleged 'wasteful expenditure' on a book authored by former IMF Executive Director K.V. Subramanian. The union raised concerns about the bank's purchase of large quantities of the book and potential impropriety in its publicity involvement. This incident highlights issues of corporate governance and financial prudence in public sector banks. UBI's management has not yet responded to these allegations.

04Apr 25

Union Bank of India Reports Lower-Than-Expected Loan Growth for FY2025

Union Bank of India (UBI) announced an 8.62% year-over-year growth in total advances as of March 31, 2025, falling short of its 11-13% guidance. The bank's debt securities statement reveals various perpetual and dated bonds with coupon rates ranging from 7.74% to 9.50%, totaling Rs. 10,750 crore.

11Mar 25

Fitch Affirms Union Bank's 'BBB-' Rating, Upgrades Viability Rating to 'BB-'

Fitch Ratings has upgraded Union Bank of India's Viability Rating to 'BB-' from its previous level, while affirming its Long-Term Issuer Default Rating at 'BBB-' with a Stable outlook. This positive rating action reflects improvements in the bank's standalone credit profile and financial health. The upgrade suggests enhancements in areas such as asset quality, profitability, capital buffers, risk management, and operational efficiency.

28Feb 25

Bombay HC Slams Union Bank of India Over Anil Ambani's 'Fraud' Account Classification

The Bombay High Court has criticized Union Bank of India for classifying Anil Ambani's loan account as fraudulent without proper due diligence. The court directed Ambani to approach the RBI with a complaint. The bench expressed concern over a trend among banks to label accounts as 'fraud' or borrowers as 'wilful defaulters' without proper consideration. This development could lead to increased scrutiny of loan classification procedures in the Indian banking sector.