Union Bank of India has raised ₹3,000cr via bonds
21 Mar 2026

Union Bank of India has raised ₹3,000 crore through the issue of senior, rated, listed, unsecured, redeemable, taxable, transferable long-term bonds on a private placement basis.

The bonds have a coupon rate of 7.16% per annum and consist of 300,000 bonds worth ₹1 lakh each.

The issue opened and closed yesterday.

Issue was oversubscribed by qualified institutional buyers
Oversubscription

The bond issue was oversubscribed by qualified institutional buyers, receiving bids worth ₹9,379.82 crore.

This is 3.12 times the base issue size of ₹3,000 crore and the bank accepted bids of around ₹3,000 crore at the cut-off rate.

The allotment of bonds is expected to take place on March 24, 2026.

Union Bank's asset quality improved sequentially
Financial overview

Union Bank's slippages at the end of the December quarter stood at ₹1,853 crore, lower than ₹2,151 crore in September.

The lender's asset quality also improved sequentially with gross non-performing assets (GNPA) improving to 3.06% from 3.29% in September, and net NPA improving to 0.51% from 0.55%.

In absolute terms, GNPA improved to ₹31,121 crore at the end of the December quarter from ₹32,085 crore in September, while its net NPAs stood at ₹5,102 crore against last quarter's ₹5,209 crore.

Bank's performance in the December quarter
Profit increase

Union Bank of India's net profit for the December quarter stood at ₹5,017 crore, up 9% YoY from ₹4,604 crore in the same quarter last year. However, its net interest income or core income remained flat with a marginal 1% YoY rise to ₹9,328 crore.