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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)

India's Financial Services Secretary Says Govt Approves 482.39 Bln-Rupee Recap To 12 State Run Banks - Tweet
Wednesday, 20 Feb 2019 

Feb 20 (Reuters) - India's Financial Services Secretary Rajeev Kumar::INDIA'S FINANCIAL SERVICES SECRETARY RAJEEV KUMAR SAYS GOVERNMENT APPROVES 482.39 BILLION RUPEES RECAPITALISATION TO 12 STATE RUN BANKS -TWEET.INDIA'S FINANCIAL SERVICES SECRETARY SAYS GOVERNMENT APPROVES INFUSION OF TOTAL 159.82 BILLION RUPEES IN ALLAHABAD BANK AND CORPORATION BANK - TWEET.INDIA'S FINANCIAL SERVICES SECRETARY SAYS GOVERNMENT APPROVES INFUSION OF TOTAL 48.43 BILLION RUPEES IN BANK OF INDIA AND BANK OF MAHARASHTRA - TWEET.INDIA'S FINANCIAL SERVICES SECRETARY SAYS GOVERNMENT APPROVES INFUSION OF TOTAL 148.79 BILLION RUPEES IN PNB, UNION BANK, ANDHRA BANK, SYNDICATE BANK - TWEET.FINANCIAL SERVICES SECRETARY SAYS GOVERNMENT APPROVES INFUSION OF TOTAL 125.35 BILLION RUPEES IN CENTRAL BANK, UNITED BANK, UCO BANK, INDIAN OVERSEAS BANK - TWEET.  Full Article

Union Bank Of India Dec-Qtr Domestic NIM At 2.23 Pct
Monday, 21 Jan 2019 

Jan 21 (Reuters) - Union Bank of India Ltd ::DEC QUARTER DOMESTIC NIM 2.23 PERCENT VERSUS 2.34 YEAR AGO.DEC QUARTER SLIPPAGES 29.83 BILLION RUPEES VERSUS 26.67 BILLION RUPEES LAST QUARTER.  Full Article

Union Bank Of India Posts Dec-Qtr Profit
Monday, 21 Jan 2019 

Jan 21 (Reuters) - Union Bank of India Ltd ::DEC QUARTER NET PROFIT 1.53 BILLION RUPEES VERSUS LOSS OF 12.50 BILLION RUPEES LAST YEAR.CONSENSUS FORECAST FOR DEC QUARTER NET PROFIT WAS 3.24 BILLION RUPEES.DEC QUARTER INTEREST EARNED 84.78 BILLION RUPEES VERSUS 82.60 BILLION RUPEES LAST YEAR.DEC QUARTER PROVISIONS AND CONTINGENCIES 16.17 BILLION RUPEES VERSUS 32.54 BILLION RUPEES LAST YEAR.DEC QUARTER PROVISIONS FOR NPA 21.39 BILLION RUPEES VERSUS 25.21 BILLION RUPEES LAST YEAR.DEC QUARTER GROSS NPA 15.66 PERCENT VERSUS 15.74 PERCENT PREVIOUS QUARTER.DEC QUARTER NET NPA 8.27 PERCENT VERSUS 8.42 PERCENT PREVIOUS QUARTER.  Full Article

Union Bank Of India Sept-Qtr Global NIM At 2.18 Pct
Monday, 29 Oct 2018 

Oct 29 (Reuters) - Union Bank of India Ltd ::SEPT QUARTER GLOBAL NET INTEREST MARGIN AT 2.18 PERCENT.  Full Article

Union Bank Of India Posts March Qtr Loss
Thursday, 10 May 2018 

May 10 (Reuters) - Union Bank of India Ltd ::MARCH QUARTER NET LOSS 25.83 BILLION RUPEES VERSUS PROFIT OF 1.08 BILLION RUPEES LAST YEAR.MARCH QUARTER INTEREST EARNED 81.12 BILLION RUPEES VERSUS 83.25 BILLION RUPEES LAST YEAR.MARCH QUARTER PROVISIONS 56.68 BILLION RUPEES VERSUS 24.44 BILLION RUPEES LAST YEAR.MARCH QUARTER PROVISIONS FOR NPA 56.39 BILLION RUPEES VERSUS 15.05 BILLION RUPEES LAST YEAR.MARCH QUARTER GROSS NPA 15.73 PERCENT VERSUS 13.03 PERCENT PREVIOUS QUARTER.MARCH QUARTER NET NPA 8.42 PERCENT VERSUS 6.96 PERCENT PREVIOUS QUARTER.SAYS DIVERGENCE IN GROSS NPA AS OF MARCH 31, 2017 WAS 28.50 BILLION RUPEES.CONSENSUS FORECAST FOR MARCH QUARTER NET LOSS WAS 11.37 BILLION RUPEES.FY 2017 ADJUSTED NET LOSS AFTER TAX WAS 3.70 BILLION RUPEES, AFTER TAKING INTO ACCOUNT DIVERGENCE IN PROVISIONING.DIVERGENCE IN PROVISIONING AS OF MARCH 31, 2017 WAS 10.14 BILLION RUPEES.SAYS GLOBAL NIM FOR MARCH QUARTER WAS 1.9 PERCENT.SAYS DOMESTIC NIM FOR MARCH QUARTER WAS 1.99 PERCENT.SAYS SLIPPAGES FOR MARCH QUARTER WAS 100.43 BILLION RUPEES.  Full Article

Union Bank Of India ‍To Consider Raising Of Equity Capital ​
Tuesday, 30 Jan 2018 

Jan 30 (Reuters) - Union Bank Of India Ltd ::TO CONSIDER RAISING OF EQUITY CAPITAL ​.  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 gets ‍in-principle nod for foreign investment in Union Asset Management Co​
Thursday, 10 Aug 2017 

Aug 10 (Reuters) - Union Bank of India Ltd :Got ‍in-principle approval for investment by foreign investors in Union Asset Management Co Pvt Ltd​.  Full Article

Bank Of India looks to divest insurance JV stake worth about $160 mln

April 5 State-run Bank of India Ltd on Friday offered to sell a 25 percent stake in its joint venture company with Union Bank Of India Ltd and Japan's Dai-ichi Life Holdings Inc for up to 11.06 billion rupees ($159.87 million).