Page 5 - Union Bank Of India

Indian PSBs plan to exit Hong Kong as strict regulations, Covid woes pinch

State Bank of India (SBI) will likely be the only PSB in Hong Kong, alongside private sector banks ICICI and HDFC

A Manimekhalai appointed as MD of Union Bank; Saha takes charge of P&S Bank

The government has appointed A Manimekhalai as managing director of Union Bank of India and Swarup Kumar Saha as head of Punjab & Sind Bank. The notifications in this regard were issued by the Department of Financial Services earlier in the day, sources said. Canara Bank executive director Manimekhalai replaced Rajkiran Rai G, who retired on May 31 after a five-year stint. With her assuming the charge, Manimekhalai becomes the first woman managing director of Union Bank of India. Manimekhalai, a Master of Business Administration degree holder from Bangalore University, joined erstwhile Vijaya Bank as Officer in 1988. Prior to being elevated as ED of Canara Bank, she was General Manager of Vijaya Bank and headed the Bangalore north region. She was instrumental in devising and implementing strategic policies, covering core areas like strategic planning, setting organisational goals, growth strategies, action plans, compliance, internal control, etc, Union Bank of India said in a ...

Appointment of managing directors at three PSBs gets govt's approval

The appointments are in line with the recommendations made by the Banks Board Bureau

Union Bank to raise up to Rs 8,100 cr in capital for business expansion

The lender's board approved raising equity capital up to Rs 3,800 crore, within overall limit of Rs 8,100 crore, said the company in filing with BSE

Union Bank of India gets board approval to raise up to Rs 8,100 cr

State-owned Union Bank of India (UBI) on Thursday said its board of directors has approved raising up to Rs 8,100 crore by issuing equity shares through various modes. The board of directors, in its meeting held on May 26, considered and approved raising of equity capital not exceeding Rs 3,800 crore, within the overall limit of Rs 8,100 crore, the bank said in a regulatory filing. Besides, the lender got the approval for raising of additional tier I (AT I) and/or tier II bonds not exceeding Rs 4,300 crore within the overall limit of Rs 8,100 crore, it said. The equity funds are to be raised through various modes such as public issue of shares (follow on public offer) or rights issue or on a private placement basis. Likewise, the funds to be raised by issuing bonds can be raised through issuance of green or foreign currency denominated AT I/II bonds. UBI said it will seek approval from the shareholders for the proposed fund raising plan in its Annual General Meeting (AGM) schedul

Bank settlement proposal in NCLAT: Supertech management tells SC

The erstwhile management of realty firm Supertech on Wednesday informed the Supreme Court that it has submitted a settlement proposal with Union Bank of India

Union Bank of India reports 8% rise in fourth-quarter profit at Rs 1,440 cr

The lender had logged a net profit of Rs 1,330 crore in the same quarter of previous fiscal year

Union Bank of India becomes the first Public Sector Bank to join the Account Aggregator Ecosystem

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In talks with bank to settle dispute over dues: Ex-Supertech managers to SC

Embattled real estate major Supertech Ltd on Friday informed the Supreme Court that it is in talk with the financial creditor Union Bank of India to resolve the dispute over the payment of dues.

Supertech stares at insolvency amid heat of twin-tower demolition

Supertech fought a long and draining legal battle to protect its twin towers -- having over 900 flats and 21 shops -- against demolition, which had been ordered for violation of building bylaws

Micro details of Indian banks' macro story

So far, the story reads well. We'll need to wait a couple of years to see how many restructured loans turn bad and whether some banks fall victim to their obsession for growth

Supertech insolvency: NCLAT stays formation of committee of creditors

During the proceedings before the appellate tribunal, Supertech Ltd's counsel requested for adjourning the matter for a week to enable it to approach the bank for negotiations.

Union Bank launches super-app UnionNXT, digital project SMBHAV

Will invest Rs 1,000 cr in FY23; plans to rationalise metro branches as digitisation progresses

Union Bank of India to sell its 8% stake in ISARC to Dhansamridhi Finance

Union Bank of India on Wednesday said it will sell its 8 per cent stake in India SME Asset Reconstruction Company.

BBB recommends A Manimekhalai to MD & CEO post at Union Bank of India

Also calls for A K Choudhary's appointment as SBI managing director

Union Bank of India raises Rs 1,500 cr through Basel-III compliant bonds

The bank has allotted unsecured, subordinated, non-convertible, taxable, perpetual, fully paid-up Basel III compliant additional tier-I bonds in the nature of debentures, aggregating to Rs 1,500 crore

Union Bank of India plans to raise Rs 1,500 crore through AT1 bond

The bank had capital adequacy ratio of 13.92 per cent with tier I of 11.75 per cent at end of December 2021

Union Bank, NPCI launch credit card for MSME borrowers to meet biz expenses

Additionally, they will also be benefitted in the form of accidental insurance coverage of up to Rs 10 lakh, domestic airport lounge access of two times per quarter, and other rewards

Union Bank of India looks to move to a new tax regime in FY23

Rajkiran Rai G, managing director (MD) & chief executive officer (CEO), Union Bank, sa­id the net profit is increasing as DTA is coming down every quarter.

Union Bank Q3 net up 49.3%; provisions & contingencies fall sharply

NII rises 8.9% to Rs 7,174 cr; gross NPAs declin to 11.62% in December 2021 from 13.49% a year ago