United Bank of India is planning to raise up to Rs 200 crore amounting $37.8 million through Lower TIER-II bonds at a coupon rate of 9.20 percent. The bank has already underwritten the issue and the pay-in is scheduled for December 30.
United Bank of India’s business is principally divided into retail banking, corporate / wholesale banking, priority sector banking, treasury operations and other banking services such as agency functions for insurance and mutual fund distribution, pension and tax collection services.
