Union Bank of India (UBI) surged 7.32% to Rs 72.55 after the bank said that it has allotted Basel III Compliant Additional Tier (AT) 1 Bonds on 23 December aggregating to Rs 663 crore.
The bank stated that it has allotted unsecured, subordinated, non-convertible, perpetual, taxable, fully paid-up Basel III Compliant Additional Tier 1 Bonds in the nature of debentures eligible for inclusion in Tier 1 capital (bonds) series aggregating to Rs 663 crore on 23 December 2022.Union Bank of India is engaged in the business of treasury operations, corporate and wholesale banking, retail banking operations and other banking operations.
The bank's standalone net profit jumped 21.1% to Rs 1,847.70 crore on 11% rise in total income to Rs 22,957.95 crore in Q2 FY23 over Q2 FY22.
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