Union Bank of India has raised additional capital to the extent of Rs 2,000 crore by issue of Basel III compliant Unsecured Redeemable Non-Convertible Tier II Bonds (Series XVII-A). Recently, the bank had 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 had 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.
The board of directors at its meeting held on October 30, 2013 had 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.
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