Page 2 - United Bank Of India

Government creates banking behemoths to boost India's flagging economy

News of the mergers comes minutes before official data is expected to confirm a fifth-straight quarter of slowing economic growth

Amalgamating 10 govt banks into 4 entities in mega consolidation move: FM

After today's mergers, the count of government-owned banks will come down to 12 from 27 in 2017

United Bank of India to link retail loan rate with repo rate; to lower MCLR

Few months back, SBI had linked savings account deposits and short-term loans with the repo rate

United Bank of India reports Rs 105 cr profit in Q1 as NPAs decline

The Kolkata-headquartered lender had registered a net loss of Rs 388.68 crore during the April-June quarter of the previous fiscal year

Back in the black, United Bank of India aims PCA framework exit by Q2FY20

On Monday, the bank posted a net profit of Rs 95.18 crore for Q4 of FY19, against a net loss of Rs 261 crore in the same period of the last financial year

United Bank of India, after successive loss, posts Rs 95 cr profit for Q4

The gross NPA of the bank as a percentage of total lending in the last quarter stood at 16.48 per cent in the last quarter, against 24.10 per cent in the same period of the previous financial year

United Bank of India cuts MCLR by 5 basis points, effective Thursday

One-year marginal cost of funds-based lending rate (MCLR) has been reduced to 8.80 per cent from 8.85 per cent

United Bank is not a candidate for merger, says MD & CEO A K Pradhan

'The government is sincerely looking that banks should come out of the PCA', said United Bank MD & CEO A K Pradhan

United Bank of India's turnaround plan hinges upon BPSL resolution

In case the resolution of BPSL doesn't take place in this quarter, the bank would need to provide Rs 300 crore of additional provisioning

De-risking Bharat through UBI

Stripped of political hyperbole, that is exactly what rural India- in other words, Bharat as is evocatively called - yearns for.

IBC process: UBI seeks monitoring mechanism for resolution professionals

According to data from the IBBI, as on December 20 for about 1,374 cases, a public announcement for the Corporate Insolvency Resolution Process (CIRP) has been done

United Bank of India gets Rs 21.59 bn as part of govt capital infusion plan

Earlier this month, Finance Minister Arun Jaitley said the government would put an additional Rs 410 billion in PSBs over and above what was announced earlier

United Bank of India hikes deposit rates across select maturities by 0.25%

The interest rate for fixed deposits between 1-3 years will increase to 6.25 per cent from 6 per cent

United Bank of India bets on resolution of 30 accounts referred to NCLT

UBI has experienced deterioration in its asset quality in the March quarter of FY18

United Bank firms up employee share purchase plan, awaits Sebi nod

Issue expected to get support from unions of both employees and officers

Issued bank guarantees of Rs 1.55 bn to NSIC against 100% margin: UBI

NSIC sought confirmation for further BGs amounting to Rs 180 million which, according to UBI, are non-existent in its records

Money laundering: ED files another case in alleged Rs 1.73-bn fraud at UBI

The case has been registered under the Prevention of Money Laundering Act

CBI registers disproportionate assets case against ex-CMD of United Bank

She joined United Bank of India on April 23, 2013 as Chairman-cum-Managing Director, a position she held till February 20, 2014

United Bank of India steps up turnaround efforts in face of new PCA curbs

Under increasing pressure from Reserve Bank of India to improve its financials, United Bank of India has stepped- up efforts towards turnaround by March 2018. Reserve Bank of India recently imposed additional restrictions on United Bank of India under the Prompt Corrective Action (PCA) framework. Now, as a part of the intensified turnaroud effort, the bank is looking to close 8 to 10 branches and about 20-25 ATMs. It is looking to sell Rs 1500 crore worth loan to ARCs this quarter. Also, according to P Bajaj, chairman of United Bank of India, if NPA cases under National Company Law Tribunal (NCLT) do not resolve, the bank will also vet the option of selling those to loans to ARCs. To meet the regulatory capital requirement, it is planning to raise close to Rs 1000 crore as QIP and awaiting government capitalization."As a part of the earlier signed MoU, we have already enforced conditions spelled out by RBI. We have been giving only investment grade loans, reducing cost of operation, ..

United Bank of India plans to raise Rs 1,190 cr via Basel III bonds

United Bank of India stock closed 0.58% up at Rs 17.45 on BSE.