Page 2 - Union Bank Of India

Union Bank Q1 net up 11.9% at Rs 4,116 crore driven by lower provisions

State-owned Union Bank of India on Saturday reported a 12 per cent rise in net profit to Rs 4,116 crore during the first quarter of this financial year. The Mumbai-based lender had earned a net profit of Rs 3,679 crore in the same quarter of the previous fiscal year. The total income rose to Rs 31,791 crore during the June 2025 quarter from Rs 30,874 crore in the year-ago period, Union Bank of India said in a regulatory filing. Interest earned by the bank improved to Rs 27,296 crore compared to Rs 26,364 crore in the June quarter of FY25. However, net interest income declined to Rs 9,113 crore during the quarter against Rs 9,412 crore a year ago. The bank's operating profit also dropped 11 per cent to Rs 6,909 crore from Rs 7,785 crore in the same quarter of the preceding fiscal. The bank's asset quality showed improvement as gross non-performing assets (NPAs) declined to 3.52 per cent of gross advances at the end of the June quarter from 4.54 per cent a year ago. Its gross adva

Union Bank shares crack 6% after Q1 business update; details here

Union Bank of India shares fell 6 per cent after it reported a sequential decline in several key operational metrics for the June quarter

Union Bank of India to garner ₹6,000 crore through equity, debt mix

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

PSU bank stocks rally on cheap valuation, Q4 boost; will the momentum last?

Despite private banks performing strongly in 2025 so far, the last three months have seen a sharp reversal, with PSU banks taking the lead.

Asheesh Pandey, Kalyan Kumar recommended to head UBI, Central Bank

FSIB interviews 23 candidates and recommends Asheesh Pandey for UBI and Kalyan Kumar for Central Bank; final nod awaits approval by Appointments Committee of the Cabinet

RBI fines Union Bank ₹63.6L, Lendbox ₹40L for regulatory breaches

The Reserve Bank of India (RBI) on Friday said it has imposed penalties on Union Bank of India and Transactree Technologies for non-compliance with certain regulatory norms. A penalty of Rs 63.6 lakh has been imposed on Union Bank of India for non-compliance with the certain provisions of Banking Regulation Act, 1949 and certain directions on 'Credit Flow to Agriculture -- Collateral free Agricultural Loans', the RBI said. In another statement, it said a penalty of Rs 40 lakh has been imposed on Transactree Technologies Pvt Ltd (also referred to as 'Lendbox') for non-compliance with certain provisions of the 'Non-Banking Financial Company -- Peer to Peer Lending Platform (Reserve Bank) Directions, 2017'. In both cases, the RBI said the penalties are based on deficiencies in regulatory compliance and not intended to pronounce upon the validity of any transaction or agreement entered into by the entities with its customers.

Canara, Union Bank announce special deposit schemes to boost growth

Amid muted deposit growth, Canara and Union Bank launch targeted deposit products offering higher interest, health insurance, and personalised support services

Union Bank Q4 results: Profit surges 50% but warns of margin pressure ahead

State-owned Union Bank of India's March quarter net profit jumped 50 per cent to Rs 4,985 crore, and a top official Friday said RBI's rate cuts will keep its net interest margins under pressure going forward. The bank had earned a net profit of Rs 3,311 crore in the same quarter previous fiscal. Total income rose to Rs 33,254 crore in the quarter as compared to Rs 31,058 crore in the same period a year ago. Speaking to reporters here, Managing Director and chief executive A Manimekhalai declined to comment on the controversy surrounding allegations of impropriety in the bulk purchase of a book by former chief economic advisor Krishnamurthy Subramanian by the bank. She also did not answer a specific question on whether the senior management's role is being investigated in the matter. In results released late last evening, the bank reported that the core net-interest income was almost flat at Rs 9,514 crore in the March quarter, while the 18 per cent growth in non-interest income a

Select banking stocks rebound; YES Bank, Union Bank surge up to 8%

At 11:27 am; Nifty PSU Bank, the sole gainer among sectoral indices, was up 1.32 per cent, as compared to 0.91 per cent decline in Nifty 50.

Q4 results today: L&T, Union Bank, Britannia, Zeel, Asian Paints on May 8

Q4 FY25 company results today: Titan, Kalyan Jewellers, IIFL Finance, and Rec will be among 74 companies to post earnings reports for the January-March quarter on May 8

Stocks to Watch on May 7, 2025: HPCL, Paytm, BSE, Tata Motors, Ather Energy

Stocks to Watch on May 7, 2025: From Ather Energy to Tata Motors, here is a list of stocks that will be in focus

Union Bank of India admits to lapses in procuring Subramanian's book

Union Bank of India has acknowledged lapses in procuring India@100 by K V Subramanian, prompting an internal probe, though it says no material financial impact has emerged

Union Bank staff body seeks probe into India@100 book purchase deal

Union Bank of India employees' union flags large-scale book purchases of India@100 by IMF official Subramanian, questions approval process and demands disclosure

Union Bank's ₹7.25 cr book purchase faces heat amid Subramanian's IMF exit

Public sector lender Union Bank purchased 189,450 paperback and 10,422 hardcover copies of Krishnamurthy V Subramanian's book 'India@100: Envisioning Tomorrow's Economic Powerhouse' for ₹7.25 crore

Financial Intelligence Unit imposes ₹37 lakh penalty on Union Bank of India

The Financial Intelligence Unit (FIU) has slapped a Rs 37 lakh penalty on Union Bank of India for discrepancies in reporting suspicious transactions for 2011-2014. In a regulatory filing on Wednesday, Union Bank said it "has taken necessary preventive measures to avoid recurrences of such non-compliances". Financial Intelligence Unit-India (FIU-IND) in its order dated April 15 imposed a penalty of Rs 37 lakh for "discrepancies observed in a matter for the year 2011 to 2014 in reporting of suspicious transaction". Shares of Union Bank were trading at Rs 124.70, up 1.88 per cent over previous close on BSE.

Union Bank of India to BoI: Large PSBs miss FY25 deposit growth targets

Credit grew faster than deposits

Union Bank of India Q4 loan growth at 8.6%, total advances at Rs 9.82 trn

State-owned Union Bank of India on Friday said it has posted a credit growth of 8.6 per cent to Rs 9.82 lakh crore during March 2025 quarter. Total advances were Rs 9.04 lakh crore at the end of March 2024, Union Bank of India said in a regulatory filing. The lender reported a 7.22 per cent rise in total deposits to Rs 13.09 lakh crore as against Rs 12.21 lakh crore at the end of the fourth quarter of the previous financial year. Total business of the bank rose 7.8 per cent to Rs 22.92 lakh crore as compared to Rs 21.26 lakh crore at March-end 2024. Meanwhile, J&K Bank reported a 10.3 per cent improvement in advances to Rs 1.06 lakh crore at the end of fourth quarter of FY25 as against Rs 96,981 crore in the same period a year ago. The Srinagar-based lender's deposits rose 10.2 per cent to Rs 1.48 lakh crore during the quarter from Rs 1.34 lakh crore in the year-ago period, J&K Bank said in a separate regulatory filing. Ujjivan Small Finance Bank clocked a 7.9 per cent rise in

Union Bank of India announces Q4 business update; shares tank 7%

Union Bank of India reported a 7.82 per cent increase in its total global business to ₹22.92 trillion for the March 2025 quarter compared to ₹21.26 trillion in the year-ago quarter

Union Bk, Jubilant FoodWorks must have stocks for your portfolio. Check why

Union Bank stock has been forming a 'Higher Top Higher Bottom' structure and has been a relative outperformer within the PSU Banking space in last couple of weeks, says Ruchit Jain of MOFSL.

Fitch upgrades viability rating for PNB and Union Bank of India

Both showed improved risk profile with better financial performance