Last 192.10 INR
Change Today -0.60 / -0.31%
Volume 2.1M
UNBK On Other Exchanges
Natl India
As of 7:06 AM 07/28/14 All times are local (Market data is delayed by at least 15 minutes).

union bank of india (UNBK) Snapshot

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Day High
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52 Week High
06/9/14 - 259.65
52 Week Low
08/29/13 - 97.00
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union bank of india (UNBK) Details

Union Bank of India operates as a commercial bank in India. It operates in four segments: Treasury Operations, Corporate and Wholesale Banking, Retail Banking Operations, and Other Banking Operations. The company’s deposit products include savings accounts, capital gains deposit schemes, salary accounts, regular current accounts, cumulative recurring deposits, deposit reinvestment certificates, short deposit receipts, fixed deposits, monthly income schemes, long term deposits, tax saver deposits, capital gains exemption deposit schemes, demat accounts, and online trading accounts. It also provides various retail loans, including home, vehicle, and education loans, as well as loans against property, loans for senior citizens, reverse mortgage loans, personal loans, loans for medical practitioners, loans for pensioners, and loans for salary account holders. In addition, the company offers debit, credit, gift, and payroll cards; online bill and tax payment services, and fund transfer services; ATM, remittance, Internet banking, mobile banking, and SMS banking services; insurance and investment services; and cheque collection services. Further, it provides NRI deposits, loans, remittances, and investment services; export and import financing, foreign currency loans, international remittance, and treasury services; micro, small, and medium enterprises banking services, including various loans and cash management services; and products and services for agricultural/SSI/tertiary sector. Additionally, the company offers corporate banking services, such as trade finance, working capital, term loans, line of credit, corporate loans, infrastructure finance, and channel finance; and debt restructuring, loan syndication, structured finance, mergers and acquisition, and private equity services. As of March 31, 2014, it operated a network of 3871 branches, including 2 overseas branches; and 6429 ATMs. The company was founded in 1919 and is headquartered in Mumbai, India.

33,806 Employees
Last Reported Date: 05/31/14
Founded in 1919

union bank of india (UNBK) Top Compensated Officers

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Executives, Board Directors

union bank of india (UNBK) Key Developments

Government Plans To Merge Public Sector Banks

Government is looking to make a merger of public sector banks. Government has asked IDBI Bank Limited (BSE:500116) and United Bank of India (BSE:533171) to prepare a consolidation plan of their merger. Sources said that Finance Ministry and state run banks are looking at other merger option. Government want to give a booster to the weaker entities and is also keen on knowing the blueprint keeping in mind human resource issues, geographical spread and technology platforms while merger. Dena Bank Ltd. (NSEI:DENABANK) may be allowed to merge with Punjab National Bank (BSE:532461), while Oriental Bank of Commerce (BSE:500315) may be headed for integration with Bank of India (NSEI:BANKINDIA). Although the proposals are only at preliminary discussion stage, Bank of Baroda (NSEI:BANKBARODA), Canara Bank Limited (BSE:532483) and Union Bank of India (BSE:532477) have been identified as potential acquirers for the weaker entities. Dena Bank, Allahabad Bank (BSE:532480) and UCO Bank (NSEI:UCOBANK) are also waiting for a helping hand. Sources also said that the merger of IDBI and United Bank would make a perfect sense. MS Raghvan, Chairman and Managing Director of IDBI said, "Nothing has emerged." United Bank executive said there were discussions but bank had not been asked to prepare a blueprint. Arundhati Bhattacharya, Chairman of State Bank of India (BSE:500112) could not be reached for comment but in a recent interview she had backed the idea of merger of subsidiaries.

Union Bank of India Plans To Raise INR 13.9 Billion

Union Bank of India (BSE:532477) has proposed to raise INR 13.9 billion through Qualified Institutional Placement (QIP). The shareholders of Union Bank have approved the fund raising. Shares of Union Bank rallied up by 5.6% and was trading at INR 239 on June 30, 2014.

Union Bank of India, Board Meeting, Jun 27, 2014

Union Bank of India, Board Meeting, Jun 27, 2014. Agenda: To consider AGM.


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