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  • Union Bank of India
U
Union Bank of India Banks
₹ 130.76 -1.97 (-1.48%)
  • NSE
  • BSE

Overview

  • BSE Code 532477
  • NSE Symbol UNIONBANK
  • ISIN Demat INE692A01016
  • Book Value (₹) 140.84
  • Face Value (₹) 10.00
  • Market Cap (₹ Cr.) 1,11,450.64
  • P/E (TTM) 6.20
  • EPS (TTM) 23.56
  • Div Yield (%) 3.25

Performance

Today’s Low 130.55
Today’s High 133.89

130.76
52W Low 100.81
52W High 158.65

130.76
Open 132.82
Prev. Close 132.73
Volume 1,57,36,006.00

Corporate Actions

Union Bank of India - General Updates
Apr 22, 2025

Union Bank of India has informed the Exchange about disclosure under Regulation 30 of the SEBI (LODR) Regulations, 2015.

About Union Bank of India

Journey of Union Bank of India

Union Bank of India, founded on November 11, 1919, is headquartered in Mumbai. It was established under the guidance of Seth Sitaram Poddar. In 2002, the bank conducted a public issue of 18 Crore shares, which was oversubscribed by 5.22 times. These shares were subsequently listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). In 2008, Union Bank of India achieved a significant milestone by becoming the first large nationalised bank to establish 100% CBS (Core Banking Solution) networking. The bank also introduced a new logo and initiated a rebranding campaign during this time. U-Mobile, the bank's mobile banking facility, was launched the same year, making Union Bank of India the first public sector bank to offer such a service. Combined Andhra Bank and Corporation Bank became Union Bank of India on April 1, 2020. Currently, the bank is distinguished by a vast network of over 8,500 domestic branches and 10,100 ATMs and employs more than 75,300 individuals. It also operates 17,000+ BC Points. As of June 30, 2023, the bank's total business amounted to ₹19,46,509 crore, including deposits of ₹11,28,052 crore and advances of ₹8,18,457 crore. Union Bank of India has expanded its presence globally with branches in Hong Kong, Dubai International Financial Centre (UAE), and Sydney (Australia).  Union Bank of India has earned recognition for its achievements in technology, digital banking, financial inclusion, support for MSMEs, and the development of its human resources.

Business Segments of Union Bank of India

Union Bank of India operates within four distinct business segments:
  • Treasury Services:Within this segment, the bank manages its investment portfolio and engages in the trading of foreign exchange contracts and derivative contracts. Treasury Services offers products and services not only to the inter-bank market but also to corporate customers. This includes firms, companies, corporate bodies, institutions, provident funds trusts, Regional Rural Banks, Urban Cooperative Banks, and Non-Banking Financial Companies. The bank offers these entities with opportunities to invest in Government Securities, as permitted by the Reserve Bank of India for non-competitive bidding.
  • Retail Banking:The Retail Banking segment is dedicated to serving individual customers and small enterprises. It encompasses a wide range of services, including deposit accounts, loans, and credit card facilities. Furthermore, Retail Banking Operations also offer various financial products such as mutual funds and insurance coverage, which includes life, non-life, health, and general insurance.
  • Corporate/Wholesale Banking:This segment core priorityes on providing financial solutions to corporate and institutional clients. It includes services such as project finance, working capital finance, and trade finance. Within the Corporate and Wholesale Banking segment, a variety of services are offered, which may include trade financing, working capital funding, lines of credit, project financing, and channel financing. This segment is also involved in debt structuring and restructuring, loan syndication, structured finance, mergers and acquisition advisory, as well as private equity services.
  • Other Banking Operations:This segment encompasses several auxiliary banking services. It includes functions like remittances, treasury operations, and catering to the banking needs of Non-Resident Indians (NRIs). The Other Banking Operations segment offers comprehensive NRI banking services and a suite of treasury and remittance services.

Subsidiaries of Union Bank of India

Union Bank of India has several subsidiaries and joint ventures. Additionally, it maintains a representative office in Abu Dhabi (UAE) and a banking subsidiary in London (UK). The bank also participates in a banking joint venture in Malaysia, owns four para-banking subsidiaries domestically, and has two joint ventures and one associate entity - Chaitanya Godavari Gramin Bank. Here is a list of some of them:
  1. Union Bank of India (UK) Limited:This is a wholly-owned subsidiary of Union Bank of India, and it delivers banking services to customers in the UK.
  2. Union Asset Management Co. Pvt. Ltd.:This is a 100% owned subsidiary of Union Bank of India that offers asset management services and mutual funds to customers. The company is determined to establish itself as the fund house under the name of “Union Mutual Fund”, which offers the appropriate investment schemes to individuals at the opportune moment.
  3. UBI Services Limited.:This is a subsidiary of Union Bank of India that offers equity broking and trading activities encompassing equity shares and CD/CPs. The company is actively engaged in sourcing retail loans such as Housing, Mortgage, Education and vehicle loans, MSME loans, Gold Loans, and Credit Cards on behalf of the parent Bank from the market. The company also offers other non-core back-office support services.

Key Personnel of Union Bank of India

  1. Manimekhalai, Managing Director & CEO
Ms. A. Manimekhalai has assumed the role of Managing Director & CEO at Union Bank of India. With over 3 decades of banking experience, she began her career at  Vijaya Bank in 1988, gradually advancing to leadership positions in branches, regions, and corporate offices. She was instrumental in formulating and implementing strategic policies covering key areas such as planning, organizational goals, growth strategies, compliance, and internal control. Before joining Union Bank of India, Ms. A. Manimekhalai served as an Executive Director at Canara Bank, where she oversaw strategic planning, credit, inspections, marketing, and financial inclusion, playing a crucial role in the successful amalgamation of Canara Bank and Syndicate Bank. She also has extensive board experience with five other companies.

Management Outlook

Union Bank of India holds a strong position with several positive aspects in its management outlook:
  1. Government Support:The bank benefits from significant government backing, with the Government of India (GoI) as the largest shareholder, holding an 83.49% equity stake as of June 30, 2023. This support has played an essential part in enhancing the bank's financial stability.
  2. Solvency and Capitalisation:Union Bank of India exhibits a comfortable capitalisation level, with its core equity capital (CET I) and Tier I capital standing at 12.34% and 13.86%, respectively, as of June 30, 2023. The solvency profile is steadily improving, driven by high provision coverage on legacy NPAs and a decline in NPA generation.
  3. Deposit Franchise:The bank maintains a well-developed deposit franchise, supported by an extensive network of 8,561 branches as of June 30, 2023. The overall deposit base has grown steadily, and while CASA deposits remain lower than the public sector banks' average, the bank's widespread network and core deposit base continue to strengthen its liabilities profile.
  4. Earnings Improvement:Union Bank of India's profitability has shown sustained improvement, driven by factors like an improved net interest margin, controlled operating expenses, and non-interest income. With a lower pace of fresh NPA additions and high provision coverage on legacy NPAs, credit costs have been reduced, supporting profitability.
Founded: 1919
Chairman: SRINIVASAN VARADARAJAN
Address: 239 Vidhan Bhavan Marg, Nariman Point UnionBank Bhavan, Mumbai, Maharashtra, 400021,