Union Bank of India

(UNIONBANK)

Karnataka High Court Rejects Union Bank's CBI Probe Plea - 14 Nov, 2024

The Karnataka High Court has rejected Union Bank of India's plea to transfer the investigation of the Karnataka Valmiki scam to the CBI, impacting the bank's efforts to ensure integrity in the banking system.

Karnataka HC Rejects UBI's CBI Transfer Request - 13 Nov, 2024

The Karnataka High Court dismissed Union Bank of India's petition to transfer the Valmiki scam investigation to the CBI, citing legal interpretations.

Union Bank Reports Strong Q2 FY25 Financials - 12 Nov, 2024

Union Bank of India reported robust Q2 FY25 results, with revenue up 13.33% YoY to Rs 32,812.12 crore and net profit soaring 33.01% YoY to Rs 4,750.93 crore. The bank's attractive valuations include a P/E ratio of 5.93 and a P/B ratio of 0.95, while its share price has increased 14.26% over the past year despite a slight YTD decline of 0.40%.

Union Bank Launches Nari Shakti Branches Amid Inflation Concerns - 10 Nov, 2024

Union Bank of India inaugurated five Nari Shakti branches to support women entrepreneurs. A report indicates CPI inflation may breach 6%, affecting monetary policy.

Union Bank Achieves Record Profits Under New Strategy - 08 Nov, 2024

Under A. Manimekhalai's leadership, Union Bank implemented the RACE strategy, achieving record net profits of Rs 13,648 crore in FY24 and significant growth in operating profit. The bank also launched Nari Shakti Loans, empowering women entrepreneurs with over Rs 7,000 crore sanctioned.

Union Bank Updates FD Rates and Q2 Performance - 03 Nov, 2024

Union Bank of India revised its fixed deposit interest rates, now offering up to 7.30%. Additionally, the bank reported a decline in NIM for Q2.

Union Bank Executive Advocates Early Closure for Branches - 01 Nov, 2024

Union Bank of India's executive director, Nitesh Ranjan, suggests closing branches by 6:30 PM and limiting work-related communication after hours to improve work-life balance.

Union Bank of India Sees Positive Movement - 30 Oct, 2024

Union Bank of India shares rose 1.98% to Rs 118.23, marking a third consecutive session of gains. Despite a 2.98% drop over the past month, the stock is up 16.37% year-on-year, outperforming the NIFTY and Nifty PSU Bank index. The stock's PE ratio stands at 5.78 based on TTM earnings.

Union Bank Alleges Major Loan Fraud by Corporate Power - 28 Oct, 2024

Union Bank of India claims that Corporate Power submitted falsified project cost statements to obtain loans, leading to a significant financial loss of Rs 4,037 crore, escalating to Rs 11,379 crore with interest.

Union Bank of India Reports Strong Q2 Earnings - 25 Oct, 2024

Union Bank of India shows strong financial performance with Q2 net income rising to ₹47.51 billion. Despite a volatile dividend history, earnings coverage remains solid with a payout ratio of 18.8%.

Union Bank Reports Strong Loan Demand and Margins - 24 Oct, 2024

Union Bank of India is experiencing robust demand for loans across various sectors, maintaining net interest margins within guidance. Motilal Oswal has a buy call with a target price of Rs 135, citing a mixed quarter but positive outlook on asset quality.

Union Bank Reports Growth Amid Regulatory Challenges - 23 Oct, 2024

Union Bank of India shows strong performance with a 34% net profit increase, while facing a Rs 54 lakh fine from FIU for PMLA violations. The bank maintains its loan growth guidance despite challenges in advances growth and asset quality improvements.

Union Bank Reports Profit Growth Amid Challenges - 22 Oct, 2024

Union Bank of India reported a 34.43% increase in net profit for Q2 FY25, despite challenges in corporate loan growth and a decline in net interest margin. The bank plans to raise up to Rs 10,000 crore in fresh capital to support future growth, while focusing on retail and MSME segments.

Union Bank Reports Strong Q2 Earnings Growth - 21 Oct, 2024

Union Bank of India reported a 34% increase in net profit to Rs 4,720 crore for Q2 FY25, driven by robust advances and improved asset quality. Total income rose to Rs 32,036 crore, while net interest income slightly declined. The bank's gross NPAs decreased to 4.36%, reflecting enhanced asset quality.