Union Bank

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Union Bank of India on Tuesday approved raising of up to Rs 8,000 crore, which would include the issuance of equities worth Rs 3,000 crore. In a BSE filing, Union Bank said the board has approved raising of debt capital through Basel III-compliant additional Tier 1 bonds and/or Tier 2 not exceeding Rs 5,000 crore. Besides, the board has approved raising Rs 3,000 crore equity capital in tranches within the overall limit of Rs 8,000 crore, through Public Issue (i.e. Further Public Offer) and/or rights issue and/or private placements, including Qualified Institutions Placements and/or Preferential Allotment. "The board of directors, in its meeting held on May 26, 2026, considered and approved the plan of the bank to raise capital by an amount not exceeding Rs 8,000 crore," the filing said. Shares of Union Bank of India were trading at Rs 167.25, down 1.01 per cent over the previous close on BSE.

Stock drops 7% amid sequentially higher provisions

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Union Bank of India posted a 9 per cent rise in December-quarter net profit as provisions dropped sharply, even as net interest margins declined and deposit growth moderated

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Union Bank of India has reduced rates on select retail loans from December 18, cutting home loans by 30 bps, vehicle loans by 40 bps and personal loans by up to 160 bps

State-run Union Bank of India on Thursday reported a 10 per cent decline in September quarter profit at Rs 4,249 crore, driven by a decline in core income and also recoveries from written-off accounts. Its newly appointed Managing Director and Chief Executive Asheesh Pandey said the lender will be "balancing" between topline growth and protecting bottomline from hereon. On the speculation about another round of consolidation among state-run lenders, and if the bank will merge with one of its peers, Pandey declined comment. Without denying any speculation, he said things are "evolving". During the quarter, it reported a 2.6 per cent dip in the core net interest income at Rs 8,812 crore due to a softer loan growth of less than 5 per cent and also a narrowing of the net interest margin to 2.67 per cent from 2.90 per cent in the year-ago period. Pandey did not share a specific target on the loan growth for FY26, but added that it still aspires to grow the book at 8-10 per cent on the b

Union Bank of India (UBI), the fifth-largest public sector bank in India with a global business mix of ₹22.1 trillion as of Q1FY26, continues to demonstrate strong operational stability

The government has appointed Asheesh Pandey as managing director (MD) and CEO of Union Bank of India and Kalyan Kumar as head of Central Bank of India for a period of three years. The Appointments Committee of the Cabinet headed by the Prime Minister approved these appointments for an initial period of three years, sources said. Pandey, currently Executive Director of Bank of Maharashtra, has been appointed as MD and CEO of Union Bank of India for a period of three years with effect from date of assumption of charge of the office. Kumar, Executive Director of Punjab National Bank (PNB), will succeed M V Rao as MD and CEO of Central Bank of India after his superannuation in July. The Financial Services Institutions Bureau (FSIB) on May 30 recommended Pandey and Kumar for the post of MD and CEO of Union Bank of India (UBI) and Central Bank of India, respectively. FSIB is headed by former Department of Personnel and Training Secretary Bhanu Pratap Sharma. Other members of the headhu

NaBFID will consult stakeholders and submit a report to the Department of Financial Services in 15 days after a meeting chaired by DFS Secretary M Nagaraju with top banks and DFIs

With muted demand from large corporates, state-owned banks are shifting focus to mid-sized firms, which offer higher yields and stronger margins despite competition from bond markets

Applications are being accepted for 250 Specialist Officer Posts at Union Bank of India. By Aug 25, 2025, applicants may submit their applications online at unionbankofindia.co.in

Union Bank of India waives charges for non-maintenance of minimum balance in general savings accounts, effective from September quarter-end, to support inclusivity

Around 12 PM, the Nifty PSU Bank index was up 0.45 per cent, as compared to a 0.43 per cent decline in the Nifty 50

The decision in this regard was taken in the board meeting held on Wednesday, Union Bank of India said in a regulatory filing

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In an unusual step, the Centre cancels Pankaj Dwivedi's appointment as Union Bank ED without citing a reason, following reports of a pending sexual harassment chargesheet