Union Bank of India (UNIONBANK)

FIR Registered Against Union Bank Officials; No Objection to Share Sale Filed - 18 May, 2024

The Central Bureau of Investigation has registered an FIR against Union Bank of India officials for violating norms during demonetisation. Meanwhile, the bank filed an affidavit conveying no objection to a share sale by IL&FS Transportation Networks.

Anand Rathi Recommends Buying Union Bank of India - 15 May, 2024

Anand Rathi's research report recommends buying Union Bank of India with a target price of Rs. 166, citing stable margins, strong non-interest income, and improved asset quality and PCR. The bank is expected to deliver a sustainable ~1% RoA in the medium term.

Canara Bank Shares May Be More Profitable Than Union Bank - 14 May, 2024

Stock market experts suggest that while both Canara Bank and Union Bank shares look attractive from a valuation perspective, Canara Bank may be more profitable due to its lower cost of funding. Meanwhile, Union Bank has announced an equity dividend of Rs 3.00 per share in the past 12 months, with a current yield of 2.24%. Technical analysis suggests potential increase for Canara Bank shares, but weakness for Union Bank shares.

Union Bank Reports Strong Q4 Results Despite Share Price Drop - 13 May, 2024

Despite an 8% drop in share price following the release of its latest quarterly report, Union Bank of India reported a 19% YoY increase in net profit for Q4 FY24, with NII rising by 14.4%. The bank's board recommended a dividend of ₹3.60 per equity share for FY24. Kotak Institutional Equities retained their ADD rating with FV of Rs 155 (unchanged) as asset quality continued to improve.

Union Bank of India Reports Strong FY 2024 Earnings - 12 May, 2024

Union Bank of India reported a strong FY 2024 with revenue up by 35% and net income up by 62%. The bank's profit margin also increased to 29%, driven by higher revenue. Looking ahead, the bank is forecasted to grow its revenue by 12% p.a. on average during the next two years.

Union Bank Reports Strong Financials and Targets Growth - 11 May, 2024

State-owned Union Bank of India reported strong financial results for Q4FY24 and fiscal year 2023-24, with plans to target growth in credit and deposits for FY25. The bank also expressed confidence in managing the impact of RBI's new project finance guidelines.

Union Bank of India Reports Strong Q4 Results - 10 May, 2024

Union Bank of India's Q4 FY24 results show a 19% YoY increase in net profit, with analysts expecting steady growth. The bank also recommends a dividend of ₹3.60 per equity share.

Union Bank of India Inaugurates New Zonal Office in Bangalore - 26 Apr, 2024

Union Bank of India's MD and CEO, A. Manimekhalai, inaugurated the new zonal office premises at Malleswaram, Bangalore. The bank has 607 administrative units across nine different regions in Karnataka.

FII/FPI increases stake in Union Bank of India - 24 Apr, 2024

Foreign institutional investors have increased their holding in Union Bank of India from 3.97% to 6.75%. The bank reported a Net Interest Margin of 3.08%, CASA Ratio of 34.40%, and Total Income growth of 20.97% YoY, accompanied by increasing profits.