Latest News | Union Bank of India Plans to Raise Up to Rs 20,000 Cr

Mumbai, Jan 29 (PTI) Union Bank of India on Wednesday said it plans to raise long-term bonds worth up to Rs 20,000 crore to finance infrastructure and affordable housing.

The public sector lender also plans to issue green/sustainable bonds of up to Rs 5,000 crore, it said, announcing the outcome of the meeting of its Board of Directors.

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On Monday, the bank reported a 28 per cent increase in net profit to Rs 4,604 crore for the third quarter ended December 2024, helped by improved core income.

The Mumbai-based bank had earned a net profit of Rs 3,590 crore in the same quarter a year ago.

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Its total income rose to Rs 31,375 crore in the reporting quarter from Rs 29,137 crore a year ago, Union Bank of India said in a regulatory filing.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)