UNIONBANK

May 8 (Reuters) - Union Bank of India Ltd UNBK.NS:

• UNION BANK OF INDIA Q4 NET PROFIT 49.85 BILLION RUPEES

• UNION BANK OF INDIA Q4 GROSS NPA 3.6%

• UNION BANK OF INDIA Q4 INTEREST EARNED 276.95 BILLION RUPEES

• UNION BANK OF INDIA Q4 PROVISIONS AND CONTINGENCIES 15.44 BILLION RUPEES

Source text: [ID:]

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April 22 (Reuters) - Union Bank of India Ltd UNBK.NS:

• RBI IMPOSES PENALTY OF 120,000 RUPEES ON UNION BANK

Source text: ID:nNSE1fbglj

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April 16 (Reuters) - Union Bank of India Ltd UNBK.NS:

• FINANCIAL INTELLIGENCE UNIT-INDIA IMPOSED PENALTY OF 3.7 MILLION RUPEES

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** Shares of Australian fintech firm Findi Ltd FND.AX rise 8.2% to A$4.760

** FND says it secured a 7-year contract with Union Bank of India UNBK.NS to deploy additional 900 ATMs across India

** Contract expected to deliver between A$75 million ($47.12 million) and A$80 million in revenue during its term

** Full deployment of ATMs will contribute an additional A$10 million-A$11 million of annualised revenue

** FND down 4% this year, including the day's moves

($1 = 1.5918 Australian dollars)

(Reporting by Sameer Manekar in Bengaluru)

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Jan 29 (Reuters) - Union Bank of India Ltd UNBK.NS:

• TO RAISE LONG TERM BONDS UP TO 200 BILLION RUPEES

• TO ISSUE GREEN/SUSTAINABLE BONDS UP TO 50 BILLION RUPEES

Source text: ID:nNSE1yz4Mg

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** Shares of Union Bank of India UNBK.NS rise as much as 7.2% to 113.14 rupees

** Lender reports 28.2% rise in Q3 net profit; gross non-performing assets ratio improves to 3.85% from 4.36% in Q2

** UNBK among top two gainers in Nifty PSU bank index .NIFTYPSU after RBI announced host of measures to inject liquidity into banking system on Monday

** Banking .NSEBANK, finance .NIFTYFIN and PSU bank indexes rise over 2% each

** Avg rating of 10 analysts equivalent of "strong buy", median PT is 149.50 rupees - LSEG data

** Stock rose 1.1% in 2024

($1 = 86.5150 Indian rupees)

(Reporting by Ashish Chandra in Bengaluru)

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Jan 27 (Reuters) - Union Bank of India Ltd UNBK.NS:

• UNION BANK OF INDIA DEC-QUARTER NET PROFIT 46.04 BILLION RUPEES

• UNION BANK OF INDIA Q3 GROSS NPA 3.85%

• UNION BANK OF INDIA Q3 INTEREST EARNED 269.58 BILLION RUPEES

• UNION BANK OF INDIA Q3 PROVISIONS AND CONTINGENCIES 15.99 BILLION RUPEES

Source text: [ID:]

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** Shares of Union Bank of India UNBK.NS fall as much as 7.5% to 114.8 rupees, before trimming some losses to trade down 6.7%

** UNBK is the top percentage loser on Nifty Public Sector Bank index .NIFTYPSU

** Co on Saturday said its total business and total deposits fell 0.24% and 2.04% q/q, respectively, as of Dec. 31

** Year-on-year, the two metrics grew 4.7% and 3.8%, respectively

** Stock below its 50-day, 100-day simple moving avgs

** ~31 mln shares traded, 2.6x its 30-day moving avg

** Avg rating of 10 analysts covering the stock is "strong buy" - data compiled by LSEG

** UNBK down 3.6% YTD, after gaining 1.1% in 2024

(Reporting by Anuran Sadhu in Bengaluru)

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Moves position of 'to India' in paragraph 7, no other changes

By Rishika Sadam and Siddhi Nayak

Nov 28 (Reuters) - Indian banks are reviewing their Adani exposure and whether they need to tighten due diligence, eight bankers said on Thursday, after the group's billionaire founder Gautam Adani was indicted by U.S. authorities over an alleged $265 million bribery scheme.

Adani Group's listed stocks, which at one point saw as much as $34 billion wiped off their market value, meanwhile recovered ground as some partners and investors rallied behind it.

State Bank of India SBI.NS will not stop lending to ongoing Adani projects that are nearing completion, two sources told Reuters, but will exercise caution when disbursing loans to ensure all terms and conditions are being met.

Bank of India BOI.NS, Union Bank UNBK.NS, ICICI Bank ICBK.NS, Canara Bank CNBK.NS, IDBI Bank IDBI.NS and RBL Bank RATB.NS, which have relatively smaller exposures to the Adani Group, are undertaking similar exercises, sources said.

A regulatory source aware of the development said from a banking system perspective that no entity was over-exposed to the Adani group and there was no cause for concern.

Earlier on Thursday, Israel said it wants Adani Group to continue to invest there, adding that the U.S. allegations were not "problematic" from its perspective.

"We wish Adani and all Indian companies continue to invest in Israel," Israel's Ambassador to India Reuven Azar told Reuters in an interview.

The Adani Group holds a 70% stake in Haifa port in northern Israel and is involved in projects with Israeli firms, including manufacturing military drones and commercial semiconductors.

Adani and seven others are accused by U.S. authorities of being part of a scheme to pay bribes to secure Indian power supply contracts. The Adani Group has denied the allegations.

The Indian ports-to-power conglomerate has also received public backing from Abu Dhabi's International Holding IHC.AD, which maintained its outlook on investments in the group.

"Our partnership with the Adani Group reflects our confidence in their contributions to the green energy and sustainability sectors," IHC said on Wednesday, adding that it "continues to evaluate relevant information and developments".

IHC, which is one of Adani's key foreign investors, boosted its stake in the group's Adani Enterprises ADEL.NS flagship to more than 5% last year after selling down investments in Adani Green Energy ADNA.NS and Adani Energy Solutions ADAI.NS.

Shares in Adani Green, the company at the centre of the bribery allegations, rose by 10% on Thursday, hitting the cap on gains in a single session for a second consecutive day, with Adani Energy also up the maximum 10%.

The total losses in the value of Adani Group's 10 listed companies have narrowed to $14.5 billion from about $34 billion, the low reached on Tuesday after the U.S. indictments.

FALLOUT

Global investors say worries of a wider spillover from the Adani allegations will hurt sentiment in India, but not the long-term outlook, as they wager one of the world's best-performing markets will get back on track next year.

Investors expect a stronger spotlight on governance and disclosure, and perhaps some volatility, but say the affair has not challenged the reasons they are in India in the first place - for exposure to a growing economy and a huge consumer market.

Indian Prime Minister Narendra Modi's government has not commented on the allegations against the Adani Group and has blocked opposition party demands for a debate on them.

Both houses of India's parliament were suspended temporarily within minutes of opening on Thursday as opposition lawmakers disrupted proceedings for the third day over the issue.

Many opposition parties accuse Modi and his Bharatiya Janata Party (BJP) of favouring Gautam Adani and blocking investigations against him, charges which both have denied.

The Adani Group, which is among India's biggest business empires, has been under scrutiny since January 2023 short seller Hindenburg Research accused it of stock manipulation, which the group has denied, and questioned its high debt levels.

Adani Green said on Wednesday that Adani had been charged by U.S. Securities and Exchange Commission (SEC) for alleged violations of securities law and faced potential fines but had not been charged under the U.S. Foreign Corrupt Practices Act.

The civil action launched by the SEC runs in parallel to U.S. federal prosecutors' indictment against Adani and others.

Repercussions from the indictment have mounted for the Adani Group over the past week, with credit ratings agencies cutting the outlook for some of the listed companies' bonds.

French oil major TotalEnergies TTEF.PA, said on Monday it would not make any more investments in the Adani Group until there was clarity over the allegations and consequences. Total has a 20% stake in Adani Green.

Kenya has scrapped a $2 billion procurement project that was to give Adani control of the country's main airport and it shelved a 30-year, $736-million public-private partnership, signed by Adani Energy with its energy ministry in October.

Closer to home, Sri Lanka said it would investigate all Adani-related projects in the island nation, while Bangladesh is investigating power generation contracts signed under the previous prime minister, one of which was with Adani Power.

(Reporting by Hadeel Al Sayegh in Dubai, Shilpa Jamkhandikar in Mumbai and Nigam Prusty in New Delhi; Writing by Scott Murdoch, Chris Thomas; Editing by Alexander Smith)

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Oct 22 (Reuters) - Union Bank of India Ltd UNBK.NS:

• UNION BANK OF INDIA EXEC: STRATEGICALLY NOT TAKING ON LOW-YIELDING CORPORATE LOANS TO PRESERVE NET INTEREST MARGINS

• UNION BANK OF INDIA EXEC: HAVE SMALL EXPOSURE WITH 2 OF 4 NBFCS UNDER RBI’S LATEST RESTRICTIONS; THEY HAVE DRAWN DOWN ALL CREDIT LINES

Source text for Eikon: [ID:]

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Oct 21 (Reuters) - Union Bank of India Ltd UNBK.NS:

• UNION BANK OF INDIA Q2 NET PROFIT 47.20 BILLION RUPEES; IBES EST. 37.81 BILLION RUPEES

• UNION BANK OF INDIA Q2 GROSS NPA 4.36%

• UNION BANK OF INDIA Q2 INTEREST EARNED 267.08 BILLION RUPEES

• UNION BANK OF INDIA Q2 PROVISIONS AND CONTINGENCIES 17.12 BILLION RUPEES

• UNION BANK OF INDIA Q2 NET NPA 0.98%

Source text for Eikon: [ID:]

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Oct 3 (Reuters) - Union Bank of India Ltd UNBK.NS:

• FINANCIAL INTELLIGENCE UNIT OF GOVERNMENT IMPOSED PENALTY OF 5.4 MILLION RUPEES

• FINANCIAL INTELLIGENCE UNIT IMPOSED PENALTY UNDER PMLA

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Sept 26 (Reuters) - Union Bank of India Ltd UNBK.NS:

• JOINT FORUM OF AIUBOF AND AIUBEA AGREED TO WITHDRAW STRIKE

• JOINT FORUM OF AIUBEF, AIUBSF, UBSA AND UBIEU, DELHI TO GO ON STRIKE ON SEPT 27

• IN EVENT OF STRIKE FUNCTIONING OF CO’S BRANCHES IN SOME LOCATIONS MAYBE AFFECTED

Source text for Eikon: ID:nNSE5gm3KD

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** Shares of Union Bank of India UNBK.NS rise 4.8% to 125.8 rupees

** Stock is top gainer on nifty PSU bank index .NIFTYPSU which is up +0.6%

** Investec upgrades UNBK to 'Buy' from 'Hold,' highlighting its strong liquidity, capitalization, and provisioning

** UNBK is trading near its historical average, offering solid margin of safety in both valuations and estimates - Investec

** Slower deposits growth for the system and regulatory headwinds (rate cuts, LCR, ECL) led to sector underperformance, it says

** Avg rating of analysts covering the stock is "buy"; median PT is at 165 rupees- LSEG data

** Of the seven stocks in the PSU bank index with broker coverage, UNBK is among 5 with this rating

** Stock up ~4.7% YTD vs an 18% rise in PSU bank index

(Reporting by Yagnoseni Das in Bengaluru)

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Aug 23 (Reuters) - Union Bank of India Ltd UNBK.NS:

• MONETARY PENALTY IMPOSED BY RBI NEGLIGIBLE CONSIDERING BUSINESS SIZE OF BANK

Source text for Eikon: [ID:]

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** Shares of Union Bank of India UNBK.NS rose as much as 2.1%; last up 1.5% to 137.69 rupees

** Co's Q1 profit rose 13.7% YoY, net interest margin expanded to 3.13% from 3.05% last year, and gross non-performing assets as a share of total assets reduced to 0.9% from 1.03% in Q4

** Larger rival HDFC Bank HDBK.NS beat Q1 profit estimates on Saturday; shares were up on Monday

** Nifty Bank index .NSEBANK, which UNBK is not a part of, is flat

** UNBK, HDBK both rated "buy" on avg - LSEG data

** UNBK and bank index up 15.7% and 8.3% YTD, respectively; HDBK down 3.9% YTD

(Reporting by Varun Vyas in Bengaluru)

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July 19 (Reuters) - Union Bank of India Ltd UNBK.NS:

• Q1 NET PROFIT 36.79 BILLION RUPEES

• Q1 INTEREST EARNED 263.64 BILLION RUPEES

• Q1 GROSS NPA 4.54% VERSUS 4.76% PREV QUARTER

• Q1 NET NPA 0.9% VERSUS 1.03% PREV QUARTER

Source text for Eikon: ID:nNSE23LKSD

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June 11 (Reuters) - Union Bank of India Ltd UNBK.NS:

• UNION BANK OF INDIA LTD - APPROVED CAPITAL PLAN OF BANK TO RAISE CAPITAL BY AN AMOUNT NOT EXCEEDING 100 BILLION RUPEES

• UNION BANK OF INDIA - APPROVED RAISING OF TIER 1 BONDS UPTO 20 BILLION RUPEES AND TIER 2 BONDS UPTO 20 BILLION RUPEES EACH

• UNION BANK OF INDIA LTD - APPROVED RAISING OF EQUITY CAPITAL NOT EXCEEDING 60 BILLION RUPEES IN TRANCHE(S)

Source text for Eikon: ID:nNSE76gstV

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June 6 (Reuters) - Union Bank of India Ltd UNBK.NS:

• BOARD MEETING INTIMATION FOR CONSIDERING CAPITAL PLAN OF BANK FOR FY 2024-25

Source text for Eikon: ID:nBSE3fn109

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May 10 (Reuters) - Union Bank of India Ltd UNBK.NS:

• UNION BANK OF INDIA LTD - Q4FY24 NIM AT 3.09%

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April 8 (Reuters) - Atlantaa Ltd ATLT.NS:

• UNIT ENTERED INTO ONE TIME SETTLEMENT WITH LENDERS OF CO

Source text for Eikon: ID:nNSE5YxmRX

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April 5 (Reuters) - Union Bank of India Ltd UNBK.NS:

• TOTAL DEPOSITS OF THE BANK GREW BY 9.29% YOY AS OF MARCH END

• TOTAL ADVANCES OF BANK GREW BY 11.72 % Y/Y AS OF MARCH 31

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April 3 (Reuters) - Union Bank of India Ltd UNBK.NS:

• UNION BANK OF INDIA LTD - DIFC DUBAI BRANCH HAS ARRANGED FOR SYNDICATED TERM LOAN OF USD 500 MN

• UNION BANK OF INDIA LTD - LOAN IN TWO TRANCHES WITH TENURE OF 3 YEARS AND 5 YEARS

Source text for Eikon: ID:nNSE1gl7Q2

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March 5 (Reuters) - Tata Power Company Ltd TTPW.NS:

• TATA POWER SOLAR SYSTEMS AND UNION BANK RENEWS PARTNERSHIP

• PARTNERSHIP TO BOOST ROOFTOP SOLAR ADOPTION AMONG RESIDENTIAL CONSUMERS

• PARTNERSHIP TO BENEFIT C&I CUSTOMERS ALSO ALONG-WITH ADDITIONAL BENEFITS

Source text for Eikon: ID:nNSE99X1ZS

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** Shares of Union Bank of India UNBK.NS up ~5 at 148.30 rupees

** The lender approved raising 30 bln rupees ($362 mln) via qualified institutional placement (QIP) of shares

** UNBK stock leads gains in the Nifty PSU Bank Index .NIFTYPSU, which is up ~1.5%

** UNBK has been outperforming the PSU bank index

** Since the start of 2023, stock up ~80% vs a ~50% rise in Nifty PSU Bank index

($1 = 82.8973 Indian rupees)

(Reporting by Nishit Navin in Bengaluru)

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Feb 20 (Reuters) - Union Bank of India Ltd UNBK.NS:

• UNION BANK OF INDIA LTD - APPROVED THE RAISING OF FUNDS FOR AN AMOUNT NOT EXCEEDING 30 BILLION RUPEES

• UNION BANK OF INDIA LTD - APPROVED THE FLOOR PRICE OF 142.78 RUPEES PER SHARE FOR THE ISSUE

• UNION BANK OF INDIA LTD- APPROVED THE RAISING OF FUNDS VIA THROUGH QUALIFIED INSTITUTIONS PLACEMENT

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Changes headline, recasts paragraph 1, and adds chart of historic weightage data of India and China in MSCI Global Standard index

By Bharath Rajeswaran

BENGALURU, Feb 13 (Reuters) - India has narrowed the gap with China in MSCI's Global Standard index, which tracks emerging market stocks for investors, after the latest revision.

Index provider MSCI raised India's weightage in the index to an all-time high of 18.2% on Tuesday, which could lead to inflows of about $1.2 billion, analysts said.

In comparison, China's weight in the index fell to 25.4% after the February revision, from 26.6% a year ago.

The convergence of weights between Indian and Chinese stocks has intensified since August 2020, when China's weightage was five times that of India's.

MSCI's revisions will come into effect after market close on Feb. 29. Indian shares had a 17.9% weight on the index ahead of the February review.

The gain for India can be attributed to a sustained rally in equities and relative underperformance of other emerging markets, especially China, Nuvama Alternative & Quantitative Research said in a note on Tuesday.

India could surpass a 20% weight on the MSCI index by early 2024, on consistent flows from domestic institutional investors and steady foreign portfolio investor participation, Nuvama said.

MSCI added five Indian stocks to its Global Standard index and did not move any out. In contrast, the index provider removed 66 Chinese stocks while adding five.

India's state-owned lenders Punjab National Bank PNBK.NS and Union Bank of India UNBK.NS were added to the large-cap category, while Bharat Heavy Electricals BHEL.NS and NMDC NMDC.NS were included in the mid-cap category. GMR Airports Infrastructure GMRI.NS was moved to the mid-cap category from small-caps.

India could witness up to $1.2 billion of passive foreign flows after the February review, Nuvama said.

About 27 small-cap stocks were added to the MSCI Domestic index, while six were either moved to other categories or removed.

Tata Motors TAMO.NS and Macrotech Developers MACE.NS were added to the domestic index under the large-cap category while Punjab National Bank, Canara Bank CNBK.NS and Embassy Office Park REIT EMBA.NS to the mid-caps.

Bharat Heavy Electricals BHEL.NS, Persistent Systems PERS.NS, MRF MRF.NS, Suzlon Energy SUZL.NS and Cummins India CUMM.NS were moved to the mid-cap index from small-caps.

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sherry Jacob-Phillips and Mrigank Dhaniwala)

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Feb 6 (Reuters) - Dynacons Systems and Solutions Ltd DSSL.NS:

• DYNACONS SYSTEMS AND SOLUTIONS LTD - DYNACONS BAGS ORDER WORTH 2.14 BILLION RUPEES FROM UNION BANK OF INDIA

Source text for Eikon: ID:nBSE1Y3F1t

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Jan 20 (Reuters) - Union Bank of India Ltd UNBK.NS:

• Q3 NET PROFIT 35.9 BILLION RUPEES

• Q3 GROSS NPA 4.83%

• Q3 INTEREST EARNED 253.63 BILLION RUPEES

• Q3 PROVISIONS AND CONTINGENCIES 17.48 BILLION RUPEES VERSUS 30.36 BILLION RUPEES

• Q3 PROVISIONS FOR NPA 12.26 BILLION RUPEES VERSUS 24.43 BILLION RUPEES

• Q3 NET NPA 1.08%

• SHARES UP 4.6% IN SATURDAY SESSION

• YR AGO Q3 PROFIT 22.45 BLN RUPEES

Source text for Eikon: [ID:]

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Jan 5 (Reuters) - Union Bank of India Ltd UNBK.NS:

• DOMESTIC ADVANCES AS OF DEC. 31 UP 10.7% Y/Y

• AS OF DEC 31 PROVISIONAL TOTAL DEPOSITS (GLOBAL) UP 10.1% Y/Y

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