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Union Bank of India surges on launching digital initiatives

07 Jul 2015 Evaluate

Union Bank of India is currently trading at Rs. 167.15, up by 2.45 points or 1.49% from its previous closing of Rs. 164.70 on the BSE.

The scrip opened at Rs. 165.45 and has touched a high and low of Rs. 168.25 and Rs. 165.00 respectively. So far 136444 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 253.50 on 23-Jan-2015 and a 52 week low of Rs. 129.80 on 08-May-2015.

Last one week high and low of the scrip stood at Rs. 168.25 and Rs. 147.45 respectively. The current market cap of the company is Rs. 10560.29 crore.

The promoters holding in the company stood at 60.47% while Institutions and Non-Institutions held 26.85% and 12.68% respectively.

Union Bank of India (UBI), one of the largest public sector banks of India, has launched new digital initiatives such as IMPS (Immediate Payment Service) at branches and M-passbooks for its customers. UBI has become the first bank to launch IMPS through branches for its retail and corporate customers by integrating the platform to its core banking solution. This will enable customers to instantly transfer funds to any account from the branch. The limit has been set at up to Rs 2 lakh per day. Furthermore, the digital passbook or M-passbook feature will allow customers to view account statement on mobile.

The bank’s net profit slipped by 23.34% at Rs 443.77 crore for the quarter ended March 31, 2015 as compared to Rs 578.91 crore for the quarter ended March 31, 2014. Its total Income grew by 11.11% to Rs 9383.71 crore for the quarter under review from Rs 8444.95 crore for the corresponding quarter of the previous year.

Union Bank Of India Share Price

188.90 0.45 (0.24%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
SBI 1080.35
PNB 114.50
Canara Bank 142.35
Bank Of Baroda 280.00
Union Bank Of India 188.90
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