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United Bank to offer insurance products after merger with Andhra Bank and Corporation Bank
Union Bank of India's MD & CEO Rajkiran Rai gets a two year extension. His tenure was to end on June 30, 2020 (today). Extension likely granted to ensure smooth merger of Union Bank with Corporation Bank & Andhra Bank.
#4QWithCNBCTV18 Banks Q4FY20 loss at Rs516cr vs Rs9742crQOQ 1st time in 18qtrs, PSU bks gained mkt share in loans GNPA at 8.26% vs 9.02%QOQ (Morat helped) Pvt bks reported PAT of Rs5457cr vs loss of Rs1829cr QOQ Results not known: LVB, Corp Bk, Andhra Bk, ALBK, OBC & United Bk
#4QWithCNBCTV18 @pnbindia Corp loan growth aids best NIM in 5qtrs 30% of retail & MSME loans under moratorium +ve Dom NIM best in 5qtrs at 2.6% Adv at +9.7%QOQ; corp bk at +28.5%QOQ Slippages at Rs5020cr, -32.1%QOQ 23% of slippages came from debits in existing NPAs (Q3 was 8.3%)
Last three quarters of both banks that are merged with union bank of india were profitable. To be precise.. Andhra bank recorded it's highest profit in many quarters .. that was around 150 cr and so did corporation bank.. recording highest profit in many quarters.. around 400 cr
Union Bank becomes 5th largest PSB post merger with Andhra Bank, Corporation Bank #Finance
Union Bank says integration with Andhra & Corporation Bank almost done, no issue in the merger
Oriental Bank of Commerce and United Bank of India will merge into Punjab National Bank (PNB); Syndicate Bank into Canara Bank; Andhra Bank and Corporation Bank into Union Bank of India; and Allahabad Bank into Indian Bank. (2/2)
Corporation Bank CEO PV Bharathi bids adieu to banking career
P V Bharathi, Corporation Bank bid adieu to banking career, 114-year history together
#UnionBank CEO Rajkiran Rai says- Amalgamation of Union Bank of India, Andhra Bank and Corporation Bank, is expected to reap cost benefits of over Rs 2,500 cr through rationalisation of branches and savings on technology on the combined entity.
PSU Banks: The Reserve Bank of India has approved the amalgamation of Oriental Bank of Commerce and United Bank of India into Punjab National Bank, Syndicate Bank into Canara Bank, Andhra Bank and Corporation Bank into Union Bank of India and Allahabad Bank into Indian Bank.
Union Bank: Branches of Andhra Bank and Corporation Bank will operate as branches of Union Bank of India from April 1, 2020.
Andhra Bank and Corporation Bank branches to operate as Union Bank branches from April 1
All branches of Andhra Bank & Corporation Bank will function as branches of Union Bank of India from April 1, 2020. Customers, incl. depositors of Andhra Bank & Corporation Bank, will be treated as customers of UBI w.e.f April 1, 2020. Press Release: 2019-2020/2137
Branches of Andhra Bank and Corporation Bank to operate as branches of Union Bank of India from April 1, 2020. This & info on other banks👇 @syndicatebank @canarabank @bank_andhra @CorporationBan2 @UnionBankTweets @AllBank1865 @OBCIndOfficial @UnitedBankTweet @pnbindia
Just in | #RBI says the following amalgamations will come into force on 1st April 2020: * Syndicate Bank into Canara Bank * Andhra Bank & Corporation Bank into Union Bank of India * Allahabad Bank into Indian Bank * OBC and United Bank into PNB @CNBCTV18Live @RBI
Just in | #RBI says the following amalgamation will come into force on 1st April 2020: * Syndicate Bank into Canara Bank Scheme * Andhra Bank & Corporation Bank into Union Bank of India * Allahabad Bank into Indian Bank * OBC and United Bank into PNB @CNBCTV18Live @RBI
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