Page 8 - Union Bank Of India

Union Bank of India to allot Basel III bonds of Rs 2,000 cr next week

Union Bank of India on Thursday said it will allot Basel III compliant bonds next week on a private placement basis, for which it has accepted bids worth Rs 2,000 crore. The bank has considered the issuance of Basel III compliant debt instruments in the nature of debentures of Rs 500 crore, with green shoe option up to Rs 1,500 crore (maximum Rs 2,000 crore) on private placement basis, the bank said in a regulatory filing. The bonds are eligible for inclusion in additional tier I capital, it said. The bonds, with face value of Rs 1 crore each, are perpetual in nature and bear coupon of 8.70 per cent per annum. Perpetual bonds carry no maturity date, so they may be treated as equity, not as debt. The deemed date of allotment of bonds is November 22, 2021, the state-owned lender said. The bonds are rated 'AA'/stable by India Ratings & Research and Crisil.

Union Bank of India's consolidated net profit jumps 183% to Rs 1,510 crore

Union Bank of India on Tuesday reported a 183 per cent jump in its consolidated net profit to Rs 1,510 crore for the September 2021 quarter

Union Bank of India cuts home loan rate to its lowest at 6.4%

The minimum rate of interest now starts at 6.40 per cent, instead of 6.8 percent earlier

Union Bank of India at 52-week high, stock rallies 42% so far in October

Post merger of Andhra Bank and Corporation Bank, Union Bank has raised capital which has improved the capitalisation levels of the bank enhancing its ability to absorb asset quality pressures

Sensex snaps 4-day losing streak, ends 534 pts up; Nifty tad below 17,700

Stock market LIVE: Sectorally, all the indices were in the green, led by the Nifty Realty index (up 3.5 per cent)

Festive rate cut not a mispricing of risks: Union Bank of India MD & CEO

In a Q&A, Rajkiran Rai G says retail credit can't make up for tepid corporate demand

Union Bank of India net profit up 255% to Rs 1,181 crore in June quarter

Net interest income rose by 9.53 per cent year-on-year in Q1FY22 to Rs 7,013 crore

Union Bank of India Q1 standalone net profit zooms to Rs 1,181 crore

Union Bank of India reported over three-fold jump in standalone net profit at Rs 1,181 crore for June quarter 2021-22, helped by higher net interest income and improvement in asset quality.

Union Bank of India to raise up to Rs 1,150 cr by issuing bonds

Union Bank of India on Thursday said it has accepted bids to raise up to Rs 1,150 crore by issuing Basel III-compliant bonds.

Stocks to watch: Vodafone Idea, SpiceJet, Union Bank, Dish TV, auto stocks

Shares of auto companies will be in focus as firms will release their sales figures for the month of June

SBI, BoB: After stellar rally, can PSU banks still offer good returns?

If the stock of SBI fails to conquer the resistance of Rs 425-mark, some weakness is likely near the support of Rs 410 levels

Union Bank of India raises Rs 850 crore through bonds

State-owned Union Bank of India has raised Rs 850 crore by issuing Basel-III-compliant bonds on a private placement basis

Stocks to watch: Union Bank of India, Infosys, IndiGo, PNB, Surya Roshni

We expect domestic travels to reach February levels by year end, said IndiGo CEO Ronojoy Dutta

State-owned Union Bank of India fourth quarter profit at Rs 1,330 crore

It incurred a net loss of Rs 2,503.18 crore in the year-ago quarter.

Union Bank of India appoints A K Vinod as chief compliance officer

State-owned Union Bank of India on Tuesday said it has nominated A K Vinod as its chief compliance officer.

BS CEO Round Table: Six bank chiefs discuss paradigm shift in banking space

Leading names of India's banking industry join Tamal Bandyopadhyay at Business Standard's Unlock BFSI 2.0 to discuss the issues plaguing the sector

Union Bank of India net profit falls 37% to Rs 727 crore in Dec quarter

Net interest income for the reporting quarter rose 4.85 per cent to Rs 6,590 crore, from Rs 6,285 in Q3FY20.

Union Bank of India to raise Rs 205 cr by issuing Basel III compliant bonds

State-owned Union Bank oFrom the issue size of Rs 200 crore with green shoe option up to Rs 30f India on Wednesday said it will raise Rs 205 crore by issuing Basel III compliant bonds later this week.

Union AMC aims to double assets base to Rs 10,000 crore this year

The fund house has more branches, workforce, and num­ber of customers at its disposal thanks to the amalgamation of Andhra Bank and Corporation Bank with Union Bank of India (UBI) last year

PNB completes IT integration of all branches of two merged entities

State-owned Punjab National Bank (PNB) on Monday said it has completed IT integration of all branches of erstwhile United Bank of India with itself.