Union Bank of India has intends to raise capital funds through issuance of Additional Tier 1 Bonds. CARE Rating has assigned ‘AA’ rating to the Bank’s proposal Basel III Compliant Tier 1 Perpetual Bonds of Rs 2000 crore.
The bank registered a fall of 13.33% in its net profit at Rs 302.42 crore for the quarter under review as compared to Rs 348.94 crore for the same quarter in the previous year. However, total income of the bank increased 8.39% at Rs 8921.00 crore for Q3FY15 as compared Rs 8230.17 crore for the corresponding quarter previous year.