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Union Bank of India’s chief digital officer (CDO) Rajnish Khare quit after a nearly 18-month stint. Khare had joined the bank on November 2, 2022, and his last date of service would be April 12, 2024. Anil Kuril, chief general manager and chief technology officer, will be given the additional responsibility of heading the digitisation department of the bank.

Union Bank CDO quits within just 18 months

Tight liquidity, elevated credit-to-deposit ratio, and higher interest rates are likely to temper the credit expansion of banks in the coming fiscal year, according to A Manimekhalai, MD and CEO, Union Bank of Indi

Union Bank chief sees 11-12% credit growth sector-wide in FY25

Recent weakening of macroeconomic factors, including the sharp rise in commodity prices as well as elevated servicing costs, is likely to pressurize the servicing ability of relatively more vulnerable borrowers.

The issuer has made timely interest payments.

 Ms. A. Manimekhalai, MD & CEO

Union Bank and other amalgamating banks had received sizeable equity capital support from the GoI during FY2018-FY2021, which, in turn, supported a meaningful reduction in the bank’s NPAs over the last few years.

The bank’s capital improved as on June 30, 2022, supported by an improvement in the internal capital generation, resulted in decline in NPAs.

Union Bank’s deposit franchise remains strong and draws support from its extensive network of 8,729 branches as on June 30, 2022.

Union Bank’s overall profitability has seen a gradual improvement despite the Covid-19 pandemic induced headwinds. 

9.50%Union Bank Of India (P) Call : 15 Sep 2026

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INE692A08029

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Union Bank CDO quits within just 18 months

Union Bank chief sees 11-12% credit growth sector-wide in FY25

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