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Union Bank of India Ltd (UNBK.NS)

UNBK.NS on National Stock Exchange of India

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Latest Key Developments (Source: Significant Developments)

Union Bank Of India June-Qtr Domestic NIM 2.34 Pct
Friday, 10 Aug 2018 

Aug 10 (Reuters) - Union Bank of India Ltd ::JUNE QUARTER DOMESTIC NIM 2.34 PERCENT.JUNE QUARTER GLOBAL NIM 2.26 PERCENT.DURING JUNE QUARTER TOTAL SLIPPAGES 46.52 BILLION RUPEES.  Full Article

Union Bank Of India June Qtr Profit Rises
Friday, 10 Aug 2018 

Aug 10 (Reuters) - Union Bank of India Ltd ::JUNE QUARTER NET PROFIT 1.30 BILLION RUPEES VERSUS PROFIT OF 1.17 BILLION RUPEES LAST YEAR.CONSENSUS FORECAST FOR JUNE QUARTER NET LOSS WAS 10.27 BILLION RUPEES.JUNE QUARTER INTEREST EARNED 87.01 BILLION RUPEES VERSUS 81.53 BILLION RUPEES LAST YEAR.JUNE QUARTER PROVISIONS AND CONTINGENCIES 22.29 BILLION RUPEES VERSUS 17.04 BILLION RUPEES LAST YEAR.JUNE QUARTER PROVISIONS FOR NPA 18.03 BILLION RUPEES VERSUS 18.76 BILLION RUPEES LAST YEAR.JUNE QUARTER GROSS NPA 16 PERCENT VERSUS 15.73 PERCENT PREVIOUS QUARTER.JUNE QUARTER NET NPA 8.70 PERCENT VERSUS 8.42 PERCENT PREVIOUS QUARTER.SAYS PROVISION COVERAGE RATIO AS AT JUNE 30 IS 56.49 PERCENT.  Full Article

India's CBI Files Chargesheet Against Promoter Director Of Pvt Co, Others For Causing Alleged Loss To Union Bank Of India
Friday, 18 May 2018 

May 18 (Reuters) - Central Bureau of Investigation: :FILES CHARGESHEET AGAINST PROMOTER DIRECTOR OF PVT CO, OTHERS FOR CAUSING ALLEGED LOSS OF ABOUT INR 3.14 BILLION TO UNION BANK OF INDIA.  Full Article

Union Bank of India approves raising additional tier I capital for up to 23 bln rupees
Friday, 10 Nov 2017 

Nov 10 (Reuters) - Union Bank Of India Ltd :Approved raising additional tier I capital for amount upto 23 billion rupees in one or more tranches.  Full Article

Union Bank Of India sees return to profitability in Q4
Friday, 3 Nov 2017 

Nov 3 (Reuters) - Union Bank Of India Ltd's CEO Rajkiran Rai says::Have front loaded provisions of 15.56 billion rupees in Q2 for NCLT accounts.Domestic NIM at 2.19 percent in Q2.Have exposure to 18 accounts in RBI second list of potential bankruptcies.Needs 10.87 billion rupees provisioning for cos in second RBI list.Have 55 percent provision coverage for loans to cos in first list, 30 percent for second list.Total exposure to cos in second RBI list 47 billion rupees, exposure to cos in first list 74 billion rupees.Sees bad loan additions in Q3 and Q4 to be at similar levels as Q2.Capital requirement for FY 18 seen at 35-40 billion rupees.Expects to make profit in Q4.Aiming for 10 percent credit growth in FY 18.Expects net NPA to be below 6 percent by March.Sees provision coverage ratio to cross 60 percent by March.  Full Article

Union Bank Of India posts Sept-qtr loss
Friday, 3 Nov 2017 

Nov 3 (Reuters) - Union Bank Of India Ltd ::Sept quarter net loss 15.31 billion rupees versus net profit of 1.77 billion rupees last year.Sept quarter interest earned 82.22 billion rupees versus 82.08 billion rupees last year.Sept quarter gross NPA 12.35 percent versus 12.63 percent previous quarter.Sept quarter net NPA 6.70 percent versus 7.47 percent previous quarter.Sept quarter provisions for non performing assets 34.65 billion rupees versus 15.98 billion rupees last year.Sept quarter provisions & contigencies 35.55 billion rupees versus 16.20 billion rupees last year.Consensus forecast for sept quarter net profit was 2.21 billion rupees.  Full Article

Union Bank of India approves capital raising plan of 35 bln rupees
Friday, 4 Nov 2016 

Union Bank of India Ltd : Approved raising capital via public issue and/or rights issue and/or pvt placement, including QIP, allotment to India government, institutions . To meet any shortfall in equity capital raising via AT1 and Tier 2 capital within the capital requirement of 35 billion rupees . Exec says board approved capital raising plan of 35 bln rupees . Stressed assets ratio 12.75 pct as of end-Sept vs 12.86 pct as at June - statement . Q2 domestic NIM 2.43 pct . Exec says have SMA2 loans of 187.81 bln rupees . Exec says co sees 9-10 pct loan growth this FY Further company coverage: [UNBK.NS] ((ReutersIndia.snapping@thomsonreuters.com;)).  Full Article

UPDATE 2-Top Indian lender SBI eyes return to profitability in Q3

* Bad loans ease from three months earlier (Recasts with Chairman's comment)