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As on : 07-Oct-2026
Hot Pursuit
07-Oct-2026     13:25

Union Bank of India secures credit rating reaffirmations from S&P Global and Standard & Poor's

Union Bank of India announced reaffirmations of its credit ratings from both S&P Global Ratings and Standard & Poor's, with S&P Global Ratings affirming the Issuer Credit Ratings at BBB/Stable/A-2 and the SACP at bbb-, while Standard & Poor's affirmed the Issuer Credit at BBB/Stable/A-2 and SACP at bbb-. The ratings reflect an improved capital position and the likelihood of government support, though a downgrade is possible if India's sovereign rating weakens or Union Bank's SACP deteriorates; the board approved raising equity of INR 30 billion in fiscal 2027 and additional Tier 1 and Tier 2 instruments totaling INR 50 billion, and also set aside INR 8 billion in standard asset provisions.

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