United Bank Of India

A bank mentioned in the Second Schedule of the Reserve Bank of India Act is known as 'Scheduled Commercial Bank'. These six banks merged with other public sector banks (PSBs) with effect from April 1.

Moody’s cuts long-term deposit ratings of 4 PSBs: What does it mean for the banks?

Moody’s downgraded long-term local and foreign currency deposit ratings of BoB, BoI, Canara Bank and UBI to Ba1 from Baa3 and their baseline credit assessments to b1 from ba3

PNB gets stock exchanges' nod to trade over 266 crore shares post merger with 2 other PSBs

With the amalgamation coming to effect from the beginning of the current fiscal on April 1, 2020, PNB has now become the second largest bank in India.

Punjab National Bank announces share exchange ratio for merger with Oriental Bank, United Bank

The bank also said the board has fixed March 25 as the date for issuing and allotting its equity shares to the shareholders of the two other banks.

New name, logo of merged entity of UBI, PNB, OBC to be unveiled soon: Official

The new entity will be the second-largest bank in the country after State Bank of India (SBI) with a total business volume of Rs 18 lakh crore, he said.

United Bank clocks Rs 114cr profit in Q3 as bad loan provisioning dwindles

Net interest margin increased to 2.98 per cent during the quarter, the bank said, adding it showed an improvement of 98 basis points over 2 per cent in the third quarter of 2018-19.

United Bank of India to allot shares to govt for Rs 1,666 cr infusion

The lender will issue 1,64,13,79,310 shares to the government at a price of Rs 10.15 per share against capital infusion of Rs 1,666 crore, the bank said in a regulatory filing.

United Bank of India Q2 net profit of Rs 124 cr as bad loans fall substantially

The lender's total income rose to Rs 3,013.74 crore in the September 2019 quarter, compared with Rs 2,600.47 crore earned in the corresponding period of the previous financial year, the bank said in a regulatory filing on Wednesday.

United Bank locked at 20% upper circuit after robust Q2 show

Pre-provision operating profit jumped quite sharply by 190 percent to Rs 598.57 crore YoY in Q2FY20.

United Bank posts Rs 124 cr profit in Q2 on lower provisions, improved asset quality

Provisions and contingencies fell sharply to Rs 436.4 crore in the September quarter against Rs 571.6 crore in the June quarter and Rs 1,481 crore in Q2FY19.

September Qtr earnings: 10 stocks which are likely to report losses in Q2FY20

Pharma, Agri inputs, FMCG including, Food & beverages, IT, Paper & packaging are some of the sectors which are expected to do better comparatively

34 functional teams to smoothen merger of UBI, PNB, OBC

The merger is scheduled to come into force from April 1 next year.

Govt appoints Mallikarjuna Rao as MD and CEO of PNB

Rao, 57, currently the Managing Director and Chief Executive Officer of Allahabad Bank, has been appointed to the new post up to September 18, 2021.

RBI slaps fines on 11 banks for delay in reporting fraud

PNB and Oriental Bank of Commerce, in an exchange filing on August 3, said that the penalty was relating to the account of Kingfisher Airlines.

United Bank of India posts Rs 105 cr profit in Q1 as NPAs decline

Total income in the first quarter rose to Rs 3,003.13 crore from Rs 2,549.71 crore in the year-ago quarter, United Bank of India said in a regulatory filing.

United Bank of India back in black after 7 quarters of losses

The total business of the bank crossed Rs 2 lakh crore at the end of March 2019.

RBI imposes Rs 8 crore fine on 3 banks for non-compliance in Swift operations

Karur Vysya said that the RBI has imposed a monetary penalty of Rs 1 crore on the bank for non-compliance with the directions issued on Swift operations.

NPA levels should be below 9% by March quarter: United Bank of India Chairman

In terms of slippages numbers, he added that it was around 4.46 percent.

United Bank of India Q3 loss widens to Rs 1,139 cr

The Kolkata-based lender had posted a loss of Rs 637.53 crore in the corresponding quarter a year ago.

UBI, Srei Equipment Finance enter pact for MSME sector finance

United Bank CEO Ashok Kumar Pradhan hailed the agreement as a 'saviour' for the MSME units 'starved' of low-cost funds to compete globally and upscale themselves.

Govt infuses Rs 2159 cr in United Bank of India

The government had earlier announced an infusion of Rs 65,000 crore in PSBs in 2018-19, of which Rs 23,000 crore has already been disbursed, while Rs 42,000 crore is remaining.