Union Bank of India gets nod to raise up to Rs 1,997 crore

31 Oct 2013 Evaluate

Union Bank of India has received an approval for raising equity capital not exceeding Rs 1,997 crore on preferential/QIP/Rights basis subject to approval of Government of India/RBI and various regulations and laws related thereto. The board of directors at its meeting held on October 30, 2013 has approved for the same.

The bank has reported a rise of 9.51% in its net profit at Rs 560.22 crore for first quarter ended June 30, 2013, as compared to Rs 511.59 crore for the same quarter in the previous year. Total income from operation of the bank has increased by 16.04% to Rs 7613.53 crore for the quarter under review as compared to Rs 6561.10 crore for the quarter ended June 30, 2012.

Union Bank Of India Share Price

119.20 2.60 (2.23%)
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