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Latest news about Union Bank of India

Union Bank of India Elevates Sarvesh Ranjan to Chief General Manager Position 2 hrs ago Today

Union Bank of India has elevated Shri Sarvesh Ranjan from General Manager to Chief General Manager effective February 01, 2026, following the superannuation of Shri Bhaskara Rao Kare. Ranjan, an engineering graduate with three decades of banking experience, currently oversees Central Reconciliation, Transaction Monitoring & AML functions. He has completed leadership programs from Switzerland and ISB Hyderabad, along with IT security certification from IDRBT.

Union Bank of India Completes ₹222.90 Crore Bond Redemption Through Call Option Exercise 2 days ago

Union Bank of India Appoints CA Dhirendra Jain as New CFO Effective February 01, 2026 3 days ago

Union Bank of India Appoints Ashish Mishra as Company Secretary and Compliance Officer 3 days ago

Union Bank Expects Low Credit Costs, Managing Opex Growth Through Efficiency Jan 16, 2026

More news about Union Bank of India

14Jan 26

Union Bank Management Expects Lower Provisions and Higher Q4 Loan Growth - Concall

Union Bank of India management has issued positive guidance during concall updates, confirming expectations for lower provisions going forward and higher loan disbursal growth in Q4 compared to current quarter. This dual guidance reflects management's confidence in improved asset quality trajectory and lending momentum expansion.

14Jan 26

Union Bank of India MD Confirms No Plans to Monetise Subsidiary Stakes

Union Bank of India's Managing Director has confirmed the bank has no plans to monetise its stake in any subsidiary companies. This strategic decision indicates the bank's commitment to maintaining its current subsidiary structure and retaining control over its various business operations rather than pursuing divestment opportunities.

14Jan 26

Union Bank Shares Surge 8.3% After Q3 Results Show Improved Asset Quality

Union Bank of India reported strong Q3 results with 9% year-on-year net profit growth to ₹5,017 crores and significant asset quality improvement, leading to an 8.3% surge in share price to ₹180. The bank's gross NPA ratio declined to 3.06% from 3.29% sequentially while slippages reduced to ₹1,853 crores from ₹2,151 crores, demonstrating effective risk management and operational efficiency.

14Jan 26

Union Bank of India Reports 7% Loan Growth, Below Earlier Guidance of 9-10%

Union Bank of India reported loan growth of 7%, falling short of its earlier guidance of 9-10%. The actual performance represents a variance of 2-3 percentage points below the bank's projected range, indicating slower credit expansion than anticipated.

14Jan 26

Union Bank Q3 Profit Rises 9.7% To Rs 5,073 Crore On Lower Provisions

Union Bank of India delivered strong Q3 results with 9.7% profit growth to Rs 5,073 crore, primarily driven by sharp decline in provisions and improved asset quality. The bank's strategic shift towards profitability over volume growth, including shedding Rs 40,000 crore of bulk deposits, resulted in better operational metrics despite modest credit and deposit growth.

14Jan 26

Union Bank of India Q3FY26 Results: Net Profit Jumps 9% to ₹5,017 Crore, NPA Ratio Improves

Union Bank of India delivered strong Q3FY26 results with net profit growing 9% to ₹5,017 crore driven by improved asset quality. The bank's gross NPA ratio improved to 3.06% from 3.85% YoY, while fresh slippages declined to ₹1,660 crore from ₹1,980 crore quarter-on-quarter, demonstrating effective credit risk management.

14Jan 26

Union Bank of India Q3FY26 Results: Net Profit Rises 9% to ₹5,017 Crores, NPAs Decline Significantly

Union Bank of India reported strong Q3FY26 results with net profit rising 9% YoY to ₹5,017 crores. The bank showed significant improvement in asset quality with gross NPAs declining to 3.06% from 3.85% and net NPAs dropping to 0.51% from 0.82%. For nine months FY26, net profit grew to ₹13,381 crores. The bank maintained robust capital adequacy at 16.49% and achieved provision coverage ratio of 95.13%, demonstrating effective risk management and positioning for sustained growth.

14Jan 26

Union Bank Q3: Net Profit Up 8.6%, Interest Income Declines 1.9% YoY

Union Bank of India delivered mixed third quarter results, achieving 8.6% net profit growth to ₹5,000 crores while facing a 1.9% decline in interest income to ₹26,440 crores year-on-year. The bank demonstrated strong asset quality improvement with Gross NPA declining to 3.06% from 3.29% and Net NPA reducing to 0.51% from 0.55% quarter-on-quarter, reflecting effective risk management amid revenue pressures.

12Jan 26

Union Bank of India Submits SEBI Compliance Certificate for Q3FY26 Dematerialisation Process

Union Bank of India filed its Q3FY26 compliance certificate under SEBI Regulation 74(5) on January 12, 2026, for the quarter ended December 31, 2025. The certificate confirms proper dematerialisation processes were followed, with KFin Technologies Limited as registrar providing verification that all securities were appropriately processed, physical certificates cancelled, and member registers updated according to regulatory requirements.

09Jan 26

Union Bank of India Completes ₹1,086 Crore Bond Redemption Through Call Option Exercise

Union Bank of India redeemed bonds worth ₹1,085.93 crores on January 09, 2026, by exercising its call option ahead of the January 11, 2026 maturity date. The full redemption covered 1,000 NCDs with ISIN INE692A08128, leaving no outstanding balance. The early payment was made due to non-business days, demonstrating the bank's proactive debt management and regulatory compliance under SEBI guidelines.

09Jan 26

Union Bank of India Schedules Q3FY26 Earnings Call for January 14, 2026

Union Bank of India has scheduled an earnings call for January 14, 2026, at 14:45 Hours IST to discuss Q3FY26 unaudited financial results with analysts and investors. The virtual call will feature senior management including MD & CEO Asheesh Pandey and four Executive Directors, with dial-in facilities available across multiple countries including India, USA, UK, Singapore, and Hong Kong.

09Jan 26

Union Bank of India Board Meeting Scheduled for January 14, 2026 to Consider Q3FY26 Financial Results

Union Bank of India has announced a Board of Directors meeting scheduled for January 14, 2026, to consider the bank's unaudited reviewed financial results for Q3FY26 ended December 31, 2025. The meeting will review both standalone and consolidated financial statements. In compliance with SEBI insider trading regulations, a trading window closure is in effect from January 1, 2026, until 48 hours after the results announcement.

09Jan 26

Union Bank of India Schedules Q3 Results Review for January 14

Union Bank of India has scheduled its third quarter results review for January 14, providing stakeholders with advance notice of this important financial disclosure event. The announcement reflects the bank's commitment to transparency and regular communication with investors and analysts regarding its quarterly performance.

02Jan 26

Union Bank of India Reports Global Deposits Growth of 3.36% to ₹12.20 Trillion

Union Bank of India has reported steady growth in its deposit portfolio with global deposits rising 3.36% year-over-year to ₹12.20 trillion. Domestic deposits also showed similar performance, growing 3.35% to ₹12.20 trillion, reflecting the bank's effective deposit mobilization strategies and customer confidence in its banking services.

02Jan 26

Union Bank of India Q3 Update | Gross advances rise 7.13%; RAM advances up 11.49%

Union Bank of India's Q3FY26 business update shows robust performance with gross advances growing 7.13% YoY to ₹10,16,805 crores and RAM advances surging 11.49%. The bank improved its CASA ratio to 33.95% and maintained strong deposit growth of 3.36% YoY, reflecting solid operational momentum across key business segments.

23Dec 25

Union Bank of India Completes ₹55.69 Crore Bond Interest Payment on Schedule

Union Bank of India completed its annual bond interest payment of ₹55.69 crores on December 23, 2025, for bonds with ISIN INE692A08227. The payment was made on schedule according to the record date of December 8, 2025, with applicable TDS deducted. This represents continued compliance with SEBI regulations and demonstrates the bank's commitment to timely debt servicing.

20Dec 25

Union Bank of India Completes ₹126 Crore Bond Interest Payment Under SEBI Regulation 57

Union Bank of India completed its annual bond interest payment of ₹126 crores on December 20, 2025, for bonds with ISIN INE692A08177. The payment was executed on schedule without delays, maintaining compliance with SEBI Regulation 57 requirements. The bank demonstrated operational efficiency and commitment to investor obligations through timely payment execution and proper regulatory reporting.

19Dec 25

Union Bank of India Receives $18.37 Million from Malaysia Joint Venture Liquidation

Union Bank of India has received an interim distribution of $18.37 million from the Members Voluntary Liquidation (MVL) of India International Bank Malaysia (IIBMB). This amount represents Union Bank's 25% share in the joint venture. The bank disclosed this information to stock exchanges in compliance with SEBI regulations. IIBMB was a collaborative venture between Union Bank of India, Bank of Baroda, and Indian Overseas Bank.

12Dec 25

Union Bank of India Credit Ratings Reaffirmed by CRISIL with Stable Outlook

CRISIL Ratings reaffirmed Union Bank of India's credit ratings on December 11, 2025, maintaining AA+/Stable for Additional Tier-1 bonds worth ₹7,100 crores and AAA/Stable for Tier-2 bonds worth ₹1,750 crores. The bank showed improved asset quality with GNPA declining to 3.30% from 3.60% in March 2025, strong capital adequacy at 17.10% CAR, and reported consolidated profit of ₹8,419 crores in H1 FY26 with 1.10% RoA.

05Dec 25

Union Bank Revises Bond Redemption Details for ₹1,000 Crore Series

Union Bank of India has issued a revised intimation for its ₹1,000 crore bond series call option exercise, updating key details including an increased coupon rate of 8.64% and adjusted redemption date of January 9, 2026. The revision ensures compliance with SEBI regulations and provides accurate information to bondholders ahead of the December 26, 2025 record date.

25Nov 25

Union Bank of India Welcomes New Executive Director Shri Amresh Prasad

Union Bank of India has appointed Shri Amresh Prasad as its new Executive Director, effective November 24, 2025. Prasad, previously the Chief General Manager at Punjab National Bank, brings over 32 years of banking experience. His appointment is for a three-year term or until reaching superannuation on October 31, 2028. Prasad's expertise spans corporate credit, credit review and monitoring, transaction monitoring, and branch operations. He holds a degree in Chemistry and is a Certified Associate of the Indian Institute of Bankers.

24Nov 25

Union Bank of India Completes Rs 174 Crore Bond Interest Payment with Minor Delay

Union Bank of India paid Rs 174.00 crore in bond interest on November 24, 2025, two days after the original due date of November 22, 2025. The delay was attributed to the due date falling on a non-business day. The payment was based on the beneficiary position as of the record date, November 7, 2025. The bank's total assets stood at Rs 1,499,860.00 crore as of March 2025, showing a 7.75% year-on-year increase.

20Nov 25

Union Bank of India Fined ₹1.35 Lakh by RBI for Currency Chest Deficiencies

Union Bank of India has been penalized ₹1,35,250 by the Reserve Bank of India for non-compliance with guidelines related to currency chests. The bank received the order on November 19, 2025, and stated that the impact on its operations is not significant. Union Bank has taken preventive measures to avoid future occurrences. Separately, the bank did not participate in the JM Financial Flagship India Conference on the same date due to exigencies.

07Nov 25

Union Bank of India Announces End of Chairman Srinivasan Varadarajan's Tenure

Shri Srinivasan Varadarajan, Non-Executive Chairman and Part Time Non-Official Director of Union Bank of India, has completed his tenure. His position will cease effective November 7, 2025. The bank has notified the BSE and NSE about this change in compliance with SEBI regulations.

06Nov 25

Union Bank of India Reports Q2 Net Profit of Rs 4,249 Crores, Focuses on Margin Protection

Union Bank of India posted a net profit of Rs 4,249 crores for Q2 FY26, up 3.25% quarter-on-quarter. The bank's operating profit reached Rs 6,814 crores. Asset quality improved with gross NPA reducing to 3.29% and net NPA to 0.55%. The bank's capital adequacy ratio stands at 17.07%. Union Bank is focusing on retail, agriculture, and MSME segments, targeting 58% portfolio mix from the current 55%. The bank expects 9-10% growth on both asset and liability sides in the future.

30Oct 25

Union Bank of India Reports 3.24% Business Growth with Improved Asset Quality

Union Bank of India experienced a 3.24% year-over-year growth in total business for the quarter ended September 30. Gross advances increased by 4.99%, while total deposits grew by 1.90%. The bank's asset quality improved significantly, with the gross non-performing assets ratio dropping to 3.29%. Despite declines in operating profit (-16.01%), net profit (-9.97%), and net interest income (-3.73%), the bank maintained profitability. Union Bank's Capital Adequacy Ratio stands at 17.07%, with a Common Equity Tier 1 ratio of 14.37%, indicating a strong capital position.

30Oct 25

Union Bank of India Reports Strong Q2 Performance with 8.14% Credit Growth and Improved Asset Quality

Union Bank of India announced its Q2 results for the period ended September 30, showing a net profit of ₹4,720.00 crores, up from ₹4,604.00 crores year-over-year. The bank achieved 8.14% growth in RAM (Retail, Agriculture, MSME) advances, reaching ₹5.54 lakh crores. Asset quality improved significantly with Gross NPA reducing to 3.29% from 4.38% and Net NPA decreasing to 0.55% from 1.03%. The bank maintained a strong Capital Adequacy Ratio of 17.07% and improved profitability metrics with Return on Assets at 1.16% and Return on Equity at 15.08%. The credit cost decreased to 0.22% from 1.09%, and the bank's deposit base reached ₹12.35 trillion with a CASA ratio of 32.56%.

29Oct 25

Government Mulls Merger of Union Bank and Bank of India to Create Banking Giant

The Indian government is reportedly considering a merger between Union Bank of India and Bank of India. If realized, this consolidation could create the second-largest bank in India, potentially enhancing operational efficiency, capital adequacy, and lending capacity. The merger could significantly alter the competitive landscape of the banking sector. However, challenges such as integrating diverse organizational cultures and harmonizing operational processes would need to be addressed. The decision is still under consideration, with stakeholders awaiting further developments.

03Oct 25

Union Bank of India Reports Mixed Results: Strong Retail Growth Amid Overall Slowdown

Union Bank of India's latest quarterly update reveals a 23.96% year-on-year growth in domestic retail advances. However, the bank faced challenges in overall business growth with total global business increasing by 3.24%, global deposits by 1.90%, and gross advances by 5.30% year-over-year. Deposits grew 1.90% annually but declined 0.40% sequentially. The RAM (Retail, Agri, MSME) segment saw a 9.30% growth. Following the results, the bank's shares declined by 2.10% to ₹135.90.

30Sept 25

Union Bank of India Welcomes Asheesh Pandey as New MD & CEO

Union Bank of India has appointed Asheesh Pandey as its new Managing Director and Chief Executive Officer for a three-year term. Pandey brings over 27 years of banking experience, including roles at Corporation Bank, Bank of Maharashtra, and previously as Chief General Manager and COO at Union Bank of India. He has expertise in corporate credit, treasury, digital lending, and has led significant digital transformation initiatives. Pandey holds a degree in Mechanical Engineering, a postgraduate management qualification, and has completed executive training programs at prestigious institutions.

16Sept 25

Union Bank of India Extends Terms for Executive Directors Nitesh Ranjan and Ramasubramanian S.

The Department of Financial Services, Ministry of Finance, has extended the terms of two Executive Directors at Union Bank of India. Shri Nitesh Ranjan's term has been extended for three years beyond March 9, 2026, while Shri Ramasubramanian S.'s term has been extended until his superannuation on June 30, 2027. The bank officially announced these changes to stock exchanges in compliance with SEBI regulations.

01Aug 25

Union Bank of India Declares Rs 4.75 Dividend, Approves Rs 6,000 Crore Capital Raising at 23rd AGM

Union Bank of India held its 23rd Annual General Meeting on August 1, 2025, via video conferencing. Key outcomes include approval of financial statements, declaration of Rs 4.75 per share dividend, and approval to raise Rs 6,000 crore in capital. New appointments were made, including Shri Suraj Srivastava as Independent Director and Shri Rohan Chand Thakur as Government Nominee Director. The Chairman addressed various aspects of the bank's operations and future outlook. All agenda items passed with majority votes. Separately, Shri Vipan Singh was promoted to Chief General Manager, replacing the superannuated Shri Chander Mohan Minocha.

31Jul 25

RBI Imposes ₹1.05 Lakh Penalty on Union Bank of India for Currency System Deficiencies

The Reserve Bank of India (RBI) has imposed a penalty of ₹1.05 lakh on Union Bank of India for deficiencies in its Currency Verification and Processing System. The bank received the order on July 30, 2025, and promptly disclosed it to stock exchanges. Union Bank stated that the penalty has no material impact on its financial operations and has implemented preventive measures to avoid future occurrences.

25Jul 25

Union Bank of India Reports 12% Net Profit Growth in Q1 Amid Margin Pressure

Union Bank of India reported a 12% year-on-year increase in net profit to Rs. 4,116.00 crores for the first quarter. Overall credit growth was 6.80%, with retail loans growing by 26.00% and MSME loans by 18.00%. The RAM segment expanded by 10.30%. Net Interest Margin declined by 11 basis points to 2.76% due to recent interest rate cuts. Return on Assets improved to 1.11% from 1.06%. The bank maintained a strong capital position with a Capital Adequacy Ratio of 18.30% and reduced bulk deposits by 7.00%. Treasury income stood at Rs. 1,418.00 crores. The bank expects a 20-25 basis points moderation in NIM for the full year but aims to maintain ROA above 1%.

25Jul 25

Union Bank of India Appoints Rohan Chand Thakur as New Government Nominee Director

Union Bank of India has appointed Shri Rohan Chand Thakur as the new Government Nominee Director, effective July 24, 2025, replacing Shri Sameer Shukla. Thakur, an IAS officer from the 2009 batch, brings over 15 years of governmental experience and an impressive educational background including degrees from St. Stephen's College, IIM Ahmedabad, and Harvard University. His appointment, made under Section 9(3)(b) of the Banking Companies Act, 1970, will be subject to shareholder approval at the upcoming Annual General Meeting on August 1, 2025.

21Jul 25

Union Bank's Q1 Profit Surges 11.7% to ₹4,100 Crore, Asset Quality Improves

Union Bank of India posted a net profit of ₹4,100.00 crore in Q1, up 11.7% year-on-year. Revenue grew 3.5% to ₹27,290.00 crore. The bank's asset quality improved with Gross Non-Performing Assets (GNPA) declining to 3.52% from 3.60% quarter-on-quarter, and Net Non-Performing Assets (NNPA) slightly decreasing to 0.62% from 0.63%. This performance demonstrates the bank's profitability and effective risk management strategies.

20Jul 25

Union Bank of India Reports Decline in Fresh Slippages, Hosts Post-Earnings Call

Union Bank of India (UBI) reported a decrease in fresh slippages to ₹2,199.00 crore, down from ₹2,480.00 crore in the previous quarter, indicating an improvement in asset quality. The bank conducted a post-earnings call to discuss its unaudited financial results, with the audio recording made available on its website. This information was disclosed in compliance with SEBI regulations.

19Jul 25

Union Bank of India Reports 12% Net Profit Growth Despite Declining Core Income

Union Bank of India's Q1 net profit increased by 12% to ₹4,115.00 crore, despite a decline in Net Interest Income to ₹9,112.00 crore. The bank's asset quality improved with gross NPA ratio decreasing to 3.52%. However, business growth was weak with gross advances growing by 7.00% and deposits by 3.60%, falling short of annual targets. The bank's shares closed at ₹146.50, showing a 20% year-to-date increase.

09Jul 25

Union Bank of India Reports Mixed Q1 Results with Declines in Key Metrics

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.

08Jul 25

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

Union Bank of India announced a 5% year-over-year growth in total business, reaching ₹21.09 lakh crore for Q1 FY24. Total deposits increased by 3.63% to ₹11.97 lakh crore, while global gross advances grew by 6.83% to ₹9.12 lakh crore. The bank's domestic retail advances showed impressive growth of 25.60%, reaching ₹1.82 lakh crore.

26Jun 25

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

Union Bank of India's board has approved a plan to raise up to Rs 6,000 crore through debt and equity instruments in the current financial year. The plan includes raising Rs 3,000 crore through equity methods and another Rs 3,000 crore via Basel III-compliant bonds. This initiative aims to strengthen the bank's capital base and is subject to government approval.

25Jun 25

Union Bank of India Unveils ₹60 Billion Capital Raising Plan

Union Bank of India has announced a ₹60 billion capital raising plan approved by its board. The plan includes ₹20 billion in Basel III Compliant AT1 Bonds, ₹10 billion in Tier 2 Bonds, and ₹30 billion in Equity Capital. This initiative aims to strengthen the bank's capital base, enhance lending capacity, and support growth objectives.

25Jun 25

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

Union Bank of India's board has approved a Rs 6,000 crore fundraising plan for the current financial year. The plan includes raising Rs 3,000 crore through equity share sales and another Rs 3,000 crore via Basel III-compliant bonds. This initiative aims to strengthen the bank's capital base and support growth. The plan still requires government approval before implementation.

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.