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Latest news about Union Bank of India

Union Bank of India Declares Rs 4.75 Dividend, Approves Rs 6,000 Crore Capital Raising at 23rd AGM Aug 01, 2025

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.

RBI Imposes ₹1.05 Lakh Penalty on Union Bank of India for Currency System Deficiencies Jul 31, 2025

Union Bank of India Reports 12% Net Profit Growth in Q1 Amid Margin Pressure Jul 25, 2025

Union Bank of India Appoints Rohan Chand Thakur as New Government Nominee Director Jul 25, 2025

Union Bank's Q1 Profit Surges 11.7% to ₹4,100 Crore, Asset Quality Improves Jul 21, 2025

More news about Union Bank of India

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.