Tuesday, November 01, 2005

Union Bank to go for public issue of 4.5cr shares


Union Bank of India will announce its second public issue of 4.5 crore shares in January next to cap its Capital Adequacy Ratio, CAR, report agencies.
The fixation of price band and other formalities is being worked out and the final figure of public issue will be announced later, UBI (Retail Banking) General Manager V S R Murthy said.
Reviewing the overall performance of the bank whose net profit stood at Rs 301 crore (Rs 3.01 billion) for the Q2, Murthy said UBI achieved a total business of Rs 1,16,171 crore (Rs 1,161.71 billion) as on September 30, 2005.
He said in the process of extending various concessions to its retail customers, the Bank has entered into tie-up with various leading automobile giants, builders, educational institutions and computer companies.

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