About Union Bank of India 

The headquarters of Union Bank of India operates from Union Bank Bhavan in Nariman Point district of Mumbai. The bank delivers complete retail and MSME and corporate/wholesale and international banking services throughout India through digital platforms including VYOM app (400+ features) and Trade Nxt for digital trade services. The Bank operated 8,621 branches and 8,910 ATMs throughout India as of March 31, 2025 with rural and semi-urban areas accounting for 59% of its total branch network. The Bank operates two international branches in Sydney and Dubai DIFC while maintaining correspondent banking relationships and supporting cross-border operations through its UK subsidiary and Malaysian joint venture bank  . The Bank operates five subsidiaries which make up its total number of subsidiaries.

The Bank achieved its highest annual net profit during FY 2024-25 while maintaining a capital adequacy ratio of 18.02% and establishing 201 new branches throughout the year which demonstrated its growing market presence and operational strength. The Bank increased its position in India’s trade sector through export credit market share growth to 10.98% among scheduled commercial banks during FY 2024-25.

Union Bank of India Key Management

• Shri Srinivasan Varadarajan, Non-Executive Chairman
• Ms. A. Manimekhalai served as Managing Director & CEO until June 2nd 2025.
• Shri Nitesh Ranjan, Executive Director
• Shri Ramasubramanian S, Executive Director
• Shri Sanjay Rudra, Executive Director
• Shri Pankaj Dwivedi, Executive Director
• Shri Avinash Vasant Prabhu, Chief Financial Officer
• CS Mangesh Mandrekar, Company Secretary

Latest Updates on Union Bank of India 

• The Bank expanded its network by adding 201 new branches and 46 branch closures during FY 2024-25 which brought the total to 8,621 branches and 8,910 ATMs with 59% located in rural and semi-urban areas. The Bank operated two international branches located in Sydney and Dubai DIFC as of March 31, 2025.
• International banking: The overseas business segment reached Rs 74,918 crore while foreign branches maintained gross advances of Rs 36,919 crore and achieved a net profit of Rs 190 crore through its UK subsidiary and Malaysian joint venture operations.
• Trade and payments infrastructure: The Bank expanded its Trade Nxt digital trade services through a unified SWIFT back office system and extensive correspondent banking network which includes RMA ties with 794 banks across 93 countries and Nostro accounts with 34 banks in 15 different currencies.
• Digital banking momentum: The Bank achieved Rs 66,000 crore in digital business revenue during FY 2025 because customers increasingly used digital channels for their banking needs .
• Governance and board changes: The Shareholder Director (Independent Non-Executive) position was given to Shri Prakash Chandra Kandpal who will serve from July 27, 2024 until July 26, 2027.
• Credit ratings: S&P Global Ratings gave Union Bank of India an Issuer Credit Rating of BBB-/Positive/A-3 while Fitch Ratings assigned a Long Term Issuer Default Rating of BBB- and domestic agencies rated Tier 2/AT1 instruments in the AAA/AA+ range.
• Regional Rural Bank update: The Central Government announced the merger of multiple RRBs in Andhra Pradesh into Andhra Pradesh Grameena Bank with Union Bank of India as the sponsor bank starting May 1, 2025.
• The Bank received the HDM Awards for Best Workforce Planning 2024 (March 2025) together with multiple other recognition awards.