Page 3 - Union Bank Of India

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

Bombay HC directs Anil Ambani to approach RBI over Union Bank order

The Bombay High Court on Friday raised concerns over the "cut, copy, paste manner" in which banks pass orders declaring accounts as 'defaulter' or 'fraud', and asked industrialist Anil Ambani to approach the RBI against an order of the Union Bank of India declaring his loan account as 'fraud'. A division bench of Justices Revati Mohite Dere and Neela Gokhale was hearing a petition filed by Anil Ambani challenging the October 10, 2024 order passed by the Union Bank of India. He was not granted any hearing before the order was passed, he claimed, challenging two show-cause notices issued by the bank. He had also asked for copies of the documents on which the bank had relied before passing the order, but no documents were furnished, the petition claimed. During Friday's hearing, the court said it was repeatedly coming across cases where banks declare accounts as 'fraud' or 'willful defaulter' without following the guidelines laid down by the Reserve Bank of India. "There cannot be suc

Union Bank of India to raise up to Rs 20,000 cr to finance infra, housing

Union Bank of India on Wednesday said it plans to raise long-term bonds worth up to Rs 20,000 crore to finance infrastructure and affordable housing. The public sector lender also plans to issue green/sustainable bonds of up to Rs 5,000 crore, it said, announcing the outcome of the meeting of its Board of Directors. On Monday, the bank reported a 28 per cent increase in net profit to Rs 4,604 crore for the third quarter ended December 2024, helped by improved core income. The Mumbai-based bank had earned a net profit of Rs 3,590 crore in the same quarter a year ago. Its total income rose to Rs 31,375 crore in the reporting quarter from Rs 29,137 crore a year ago, Union Bank of India said in a regulatory filing.

Union Bank's credit to grow at lower end of guidance band: MD & CEO

RBI's liquidity infusion to reduce fund costs

Union Bank shares gain 7% after posting Q3 results; check details here

On Monday, after market hours, Union Bank of India reported a 28.24 per cent year-on-year (Y-o-Y) increase in its consolidated net profit in Q3FY25 at Rs 4,604 crore, up from Rs 3,610.1 a year ago

Union Bank Q3 results: Net profit up 28.24% on non-interest income boost

The bank, in a late-night statement, said its net interest income (NII) grew marginally by 0.79 per cent Y-o-Y to Rs 9,240 crore in Q3FY25, compared to Rs 9,168 crore in the same quarter of last year

Angel One, Kalyan Jewel among 5 F&O stocks with short positions in 3 days

Angel One, Kalyan Jewellers, Union Bank, CAMS and JSW Energy have seen open positions increase up to 53 per cent amid a fall in share price; shows NSE derivatives market data.

F&O Market: Union Bank, Dabur see short build-up as Nifty tumbles 300pts

Union Bank stock futures plunged nearly 8% on the back of 54% increase in OI. On the other hand, Dr. Lal Path Labs and Metropolis Health witnessed long build-up on Monday; shows derivatives data.