Union Bank of India to Raise ₹20,000 Crore for Infrastructure and Affordable Housing

Union Bank of India has announced plans to raise up to ₹20,000 crore through long-term bonds to support infrastructure and affordable housing projects. The decision was made during a meeting of the bank’s Board of Directors.

In addition to this, the public sector bank also plans to issue green and sustainable bonds worth up to ₹5,000 crore. These bonds are aimed at financing environmentally friendly and sustainable projects.

Strong Financial Performance in Q3 FY25

Union Bank of India recently reported a 28% increase in net profit, reaching ₹4,604 crore for the third quarter ending December 2024. This growth was driven by higher core income.

In comparison, the bank had posted a net profit of ₹3,590 crore in the same quarter last year.

The total income of the bank also saw an increase, rising to ₹31,375 crore in Q3 FY25, compared to ₹29,137 crore in the corresponding period of the previous year. The financial results were disclosed in a regulatory filing.

Union Bank of India continues to strengthen its financial position and expand its funding options to support key sectors such as infrastructure and affordable housing.