About Union Bank Share Price

Union Bank of India offers wholesale banking, retail banking, treasury operations, and other types of digital services in banking. As the fifth-biggest public sector bank in India, UBI commands an enviable market share of about 6% in deposits and 5.5% in net advances as of FY24. The bank boasts a diversified portfolio and also has an extensive network of 8,466 branches and 8,982 ATMs which underlines its wide reach and accessibility across the country. The Union Bank share price is influenced by a variety of factors, including market trends, economic conditions, and the bank's financial performance. Investors can monitor UBI or Union Bank Ltd share price on exchanges such as NSE and BSE.

The bank has shown a critical determination for digital transformation and invested heavily in IT infrastructure with further proposals of investments in the enhancement of core IT, security analytics, and digital. During FY24, the UBI provided ₹1,150 crore for IT infrastructure and intends to invest another ₹1,400 crore during FY25.

History of Union Bank of India

Union Bank of India is one of the oldest and major public sector banks in India. It has its historical roots going back to the year 1919. It had a vision to offer all types of banking services in both the urban and rural sectors. The bank has gradually emerged into its present form. It was nationalized in 1969 with other major banks, which proved to be a significant milestone in its history. One of the major events in recent times was the amalgamation of Andhra Bank and Corporation Bank in 2020, which increased its operational capability, customer base, and financial strength manifold. This strategic amalgamation positioned UBI among the top leading banks in the Indian banking sector.

Business Segment of Union Bank of India

Below are the different key business segments of Union Bank of India:

Corporate and Wholesale Banking: A vast array of product and service offerings to cater to corporate clients and large enterprises consists of working capital loans, term loans, and project financing. The bank's strategic orientation toward this segment gives way to the requirements of major businesses regarding financing needs and therefore brings considerably high revenue to the bank.

Retail Banking: Individual customers in large numbers would be the target, and there would be a few variants of retail loans such as home loans, vehicle loans, and personal loans. At any given Bank, their retail banking services are geared towards diverse customer needs that contribute to its significant share of revenue.

Treasury: UBI Treasury adds 27% to the bank's group. It includes the liquidity operation, investments, and foreign exchange activities of the bank. The bank uses expert risk management techniques in the optimization of liquidity and return on investment to maintain good stability.

Others Banking Operations: It is a catch-all category that includes app banking, internet banking, self-service banking, and ATM banking, among other forms of digital banking. These services are quite fundamental in terms of convenience and accessibility for the customers.

Financial Performance of Union Bank of India

Union Bank of India (UBI) net profit surged 14% year-on-year during the first quarter to ₹3,679 crore.
On the other hand, the net interest margin fell to 3.05% during the quarter under review from 3.13% during the corresponding quarter of the preceding year.
Provisions for NPAs were down about 17% YoY from ₹1,984 crore to ₹1,651 crore. However, the provision for standard advances increased manifold to ₹1,296 crore from ₹56 crore.
The bank also reported higher write-back in the provisions about non-performing investments of ₹300 crore from ₹107 crore earlier. Tax expenses were lower at ₹1,351 crore from ₹1,938 crore.
The gross NPA ratio stood at 4.54% at the end of June 2024 from 4.76% at the end of March 2024. The net NPA ratio improved to 0.90% against 1.03% reported earlier.
Total deposits increased by 8.52% YoY to ₹12,24,191 crore as of June 2024. Domestic deposits grew 7.48% YoY to ₹11,96,168 crore.
The share of low-cost current account and savings account CASA deposits declined to 33.40% of domestic deposits as of the end of June 2024 from 34.60% as of the end of June 2023.
Gross advances surged by 11.46% YoY to ₹9,12,214 crore. Of this, domestic advances increased by 10.76% to ₹8,78,797 crore, while overseas advances grew by 33.62% to ₹33,417 crore.

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Key Personnel of Union Bank of India

The company’s management team has played a key role in its success as reflected in Union Bank Ltd share price. Following is the list of directors along with their designations.

Mr. Srinivasan Varadarajan is the Part-Time Non-Official Director and Non-Executive Chairman.
Mr. A. Manimekhalai is the Managing Director & Chief Executive Officer.
Mr.Nitesh Ranjan is an Executive Director.
Mr.Ramasubramanian S is an Executive Director.
Mr.Sanjay Rudra is an Executive Director.
Mr.Pankaj Dwivedi is an Executive Director.
Mr. Sameer Shukla is the Government Nominee Director.
Mr. Prakash Baliarsingh is the RBI Nominee Director.
Mr. Suraj Srivastava is Part-time Non-Official Director.
Mr. Laxman S Uppar is Part-time Non-Official Director.
Mr. Priti Jay Rao is the Shareholder Director.
Mr. Prakash Chandra Kandpal is another Shareholder Director.

Union Bank of India

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