Union Bank of India has completed the acquisition of 49% shareholding of Union KBC Asset Management Company and Union KBC Trustee Company from KBC Participations Renta S.A. and its affiliates (KBC Asset Management NV) on September 20, 2016. Further, with this aforesaid acquisition the Union KBC Asset Management Company and Union KBC Trustee Company have become wholly owned subsidiaries of the Bank.
Union Bank of India is one of the largest government-owned banks of India. The Bank had 4,196 branches in India as on 31 March 2016 and to add to it 4 overseas branches.