Union Bank of India is engaged in the Business of Banking Services, Government Business ,Merchant Banking, Agency Business Insurance, Mutual Funds, Wealth Management etc.
S&P Global Ratings assigned a 'BBB' long-term issue rating to Union Bank of India's (DIFC Branch) senior unsecured notes. These US dollar-denominated notes, totaling $600 million (approx. 5,000 Cr), consist of two tranches. This rating offers investors an assessment of the bank's debt instruments.
Fitch Ratings assigned a 'BBB-' rating with a Stable outlook to Union Bank of India's USD 600 million (approx. 4,980 Cr) senior unsecured notes. This new rating for instruments issued by its Dubai branch reflects a high likelihood of government support, considering the state's 75% ownership and the bank's significant...