Union Bank of India gets nod to raise up to Rs 1,500 crore in 2012-13

Union Bank Of India | Bank - Public | BFSI | BSE: 532477 | NSE: UNIONBANK

24 Dec 2012 Evaluate

Union Bank of India has received an approval for raising additional capital funds not exceeding Rs 1,500 crore during the year 2012-13 by way of issue of Tier I and Tier II capital bonds as per eligibility. The board at its meeting held on December 22, 2012 has approved for the same.

The bank has posted a rise of 57.31% in its net profit at Rs 554.56 crore for the quarter ended September 30, 2012 as compared to Rs 352.52 crore for the same quarter in the previous year. Total income has increased by 18.61% at Rs 6655.66 crore for quarter under review as compared to Rs 5611.37 crore for the quarter ended September 30, 2011.

Peers

Company Name	CMP
State Bank Of India	984.50
PNB	116.80
Bank Of Baroda	232.40
Canara Bank	123.90
Union Bank Of India	177.45
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