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United Bank of India


BSE: 533171 | NSE: UNITEDBNK | ISIN: INE695A01019 
Market Cap: [Rs.Cr.] 2,156 | Face Value: [Rs.] 10
Industry: Banks - Public Sector

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Board Meet

14-May-13 
United Bank of India has informed BSE that a meeting of the Board of Directors of the Bank will be held on May 10, 2013, inter alia, to consider, approve and adopt the audited financial results of the Bank for the quarter ended March 31, 2013, and Financial Year 2012-13 and consider recommendation of final dividend for the financial year 2012 -13. With reference to the earlier announcement dated April 29, 2013 intimating about the Board Meeting, which was proposed on May 10, 2013, inter alia, to consider, approve and adopt the Audited Financial Results of the Bank for the quarter ended March 31, 2013 and the Financial Year 2012-13 and to consider recommendation of final dividend for the Financial Year 2012-13, United Bank of India has now informed BSE that due to certain exigency the aforesaid meeting is being postponed to May 14, 2013. (As per BSE Announcement Dated on 06.05.2013) (Revised) (As Per BSE Bulletin Dated On 06.05.2013) United Bank of India has informed BSE that the Board of Directors of the Company at its meeting held on May 14, 2013, inter alia, has recommended a final dividend @ 21% i.e. Rs. 2.10 per equity share of Rs.10/- each for the Financial Year 2012 - 13, subject to the approval of the shareholders of the Bank at the next Annual General Meeting. (As per BSE Announcement Dated on 14.05.2013) 
05-Feb-13 
Quarterly Results United Bank of India has informed BSE that the Board of Directors of the Company at its meeting held on February 05, 2013, inter alia, has approved Preferential Allotment of Equity Shares to the President of India acting on behalf of the Government of India under Chapter VII of the SEBI ICDR Regulations 2009, pursuant to the approval of the Ministry of Finance vide its letter dated January 30, 2013 to the Infusion of capital in the form of common equity in the Tier-1 capital of the Bank to the tune of Rs. 100 cr. subject to approval of the shareholders of the Bank. The Board has approved convening an Extra-ordinary General Meeting of shareholders of the Bank on March 12, 2013 at 10.30 A.M. at Bhasha Bhavan Auditorium, National Library, Belvedre Road, Kolkata - 700027 for obtaining the approval of the shareholders to the proposed Preferential Allotment by a special resolution under Regulation 72(1)(a) of SEBI ICDR Regulations. Accordingly, the Relevant Date fixed for the purpose of the aforesaid preferential allotments under Regulation 71 of the SEBI ICDR Regulation is February 08, 2013. (As per BSE Announcement Dated on 05.02.2013) 
21-Nov-12 
United Bank of India has informed BSE that the Board of Directors at its Meeting scheduled on November 21, 2012 shall discuss and deliberate inter-alia, upon raising of capital up to Rs. 750 crore through issuance of Perpetual Debt Instruments and/or Unsecured Subordinated Non-convertible Tier-ll Bonds, and up to 10 crore equity shares of Face Value of Rs. 10/- each at a premium to be decided subsequently, in the form of Rights Issue or Follow-on Public Offering. United Bank of India has informed BSE that the Board of Directors of the Company at its meeting held on November 21, 2012, inter alia, has approved: 1. Issue & allotment of Unsecured Perpetual Tier - I Bonds (Series I) in the nature of Promissory Notes of Rs.10 lakhs each for cash at par up to a maximum amount of Rs.250 crore with a Green Shoe option up to a maximum of Rs.250 crore (Total amount not exceeding Rs.500 crore) through Private Placement; 2. Create, issue & allot up to such numbers of Equity Shares of Rs.10/- each at a premium to be decided subsequently on Rights' basis to the existing shareholders of the Bank as on the Record Date to be fixed subsequently, as may be required to raise at least Rs.250 crore (Rupees Two Hundred and Fifty Crore) but not exceeding Rs. 300 crore (Rupees Three Hundred Crore) including premium. (As per BSE Announcement Dated on 22.11.2012)  
26-Oct-12 
Quarterly Results 
03-Aug-12 
Quarterly Results 

AGM

28-Jun-12
United Bank of India has informed BSE that the Register of Members & Share Transfer Books of the Bank will remain closed from June 16, 2012 to June 28, 2012 (both days inclusive) for the purpose of Payment of Dividend & Annual General Meeting (AGM) of the Bank to be held on June 28, 2012. United Bank of India has informed BSE that the 3rd Annual General Meeting (AGM) of the Bank will be held on June 28, 2012. (As Per BSE ANnouncement Website Dated on 25/06/2012) United Bank of India has informed BSE that the Bank has successfully held its third Annual General Meeting in Kolkata, Both the items on the Agenda i.e. Adoption of Accounts for 2011-12 and declaration of dividend have been passed unanimously. The had recommended 24% dividend of the Equity Shares of face value of Rs 10/- at its meeting held on May 05, 2012 which was declared at the Annual General Meeting. As earlier informed, the Bank will start distribution of dividend to the shareholders on and from July 03, 2012. United Bank of India has submitted to BSE the details of voting results of the Annual General Meeting held on June 28, 2012 (In terms of Clause 35A of the Listing Agreement). (As Per BSE Announcement Website Dated on 29/06/2012) 
29-Jul-11
United Bank of India has informed BSE that the Register of Members & Share Transfer Books of the Company will remain closed from July 16, 2011 to July 29, 2011 (both days inclusive) for the purpose of Payment of Final Dividend & Annual General Meeting (AGM) of the Company to be held on July 29, 2011. Further the payment of dividend recommended to the respective shareholders, if declred at the Annual General Meeting by the shareholders, shall commence on and from August 05, 2011. United Bank of India has informed BSE that the second Annual General Meeting (AGM) of the Bank will be held on July 29, 2011. (As Per BSE Announcement Dated on 04.07.2011) United Bank Of India has informed the Exchange that 'On July 29, 2011, the Bank has successfully held its second Annual General Meeting in Kolkata. Both the items on the agenda, i.e. Adoption of Accounts for 2010-11 and declaration of dividend have been passed unanimously. The Board recommended 22% dividend on the Equity Shares of Face Value of Rs.10/- at its meeting held on April 29, 2011.The Bank will start distribution of dividend to the shareholders on and from August 05, 2011.' (As Per NSE Bulletin Dated on 01/08/2011) 
09-Jul-10
AGM 09/07/2010 United Bank of India has informed BSE that the 1st Annual General Meeting (AGM) of the shareholders of the Bank will be held on July 09, 2010, inter alia, to transact the following business: 1. To discuss, approve and adopt the Balance Sheet, Profit & Loss Account of the Bank as at and for the year ended March 31, 2010, the Report of the Board of Directors on the working and activities of the Bank for the period covered by the Accounts and the Auditor's Report on the Balance Sheet and Accounts. 2. To declare Dividend on Equity Shares for the Financial Year 2009-10. 3. Accorded to the Board of the Bank for issuance from time to time or at one shot depending on the need at a particular point of time, unsecured subordinated non-convertible Innovative Perpetual Debt Instrument (IPDI) for inclusion in Tier I Capital and unsecured subordinated redeemable non-convertible bond (Tier II Bonds) in the form of Promissory Note for inclusion in Tier II Capital of the Bank up to Rs. 350 crore and Rs. 200 crore with or without green-shoe option respectively. (As Per BSE Announcement Website dated on 14.06.2010) Annual General Meeting of the Bank scheduled on July 09, 2010, for their approval. Further the Company has informed that, the dividend shall be paid by electronic transfer or through at-par dividend warrants to the shareholders on and from July 19, 2010, subject to the approval to the recommended dividend at the Annual General Meeting on July 09, 2010. (As Per BSE Announcement Dated on 25.06.2010) United Bank of India has informed BSE that the Final Dividend of 20% for the F.Y. 2009-10 has been unanimously approved by the shareholders of the Bank at the Bank's Annual General Meeting (AGM) held on July 09, 2010. Apart from this, the other items on the agenda have also been adopted and approved unanimously. (As Per BSE Announcement Dated on 09.07.2010) United Bank of India has informed BSE that Bank held its 1st Annual General Meeting (AGM) on July 09, 2010. The Bank has submitted to BSE the detailed proceedings of the said meeting. Outcome of AGM : 1. Adoption of the Balance Sheet of the Bank as at March 31, 2010, the Profit and Loss Account for the year ended March 31, 2010, the report of the Board of Directors on the working and activities of the Bank for the period covered by the Accounts and Auditor's Report on the Balance Sheet and Accounts. 2. Declaration of dividend at the rate of Rs. 2/- (Rupees two only) per equity share of Rs.10/- each on the Equity Capital of the Bank. 3. Authority to the Board of the Bank to raise from time to time or at one shot depending on the need at a particular point of time, unsecured subordinated non-convertible Innovative Perpetual Debt Instrument (IPDI) for inclusion in Tier I Capital and unsecured subordinated redeemable non-convertible bond (Tier II Bonds) in the form of Promissory Note for inclusion in Tier II Capital of the Bank up to Rs.350 crore and Rs.250 crore with or without green-shoe option respectively. (As Per BSE Announcement Website dated on 12.07.2010) 

EGM

12-Mar-13
United Bank of India has informed BSE that the Board of Directors of the Company at its meeting held on February 05, 2013, inter alia, has approved Preferential Allotment of Equity Shares to the President of India acting on behalf of the Government of India under Chapter VII of the SEBI ICDR Regulations 2009, pursuant to the approval of the Ministry of Finance vide its letter dated January 30, 2013 to the Infusion of capital in the form of common equity in the Tier-1 capital of the Bank to the tune of Rs. 100 cr. subject to approval of the shareholders of the Bank. The Board has approved convening an Extra-ordinary General Meeting of shareholders of the Bank on March 12, 2013 at 10.30 A.M. at Bhasha Bhavan Auditorium, National Library, Belvedre Road, Kolkata - 700027 for obtaining the approval of the shareholders to the proposed Preferential Allotment by a special resolution under Regulation 72(1)(a) of SEBI ICDR Regulations. Accordingly, the Relevant Date fixed for the purpose of the aforesaid preferential allotments under Regulation 71 of the SEBI ICDR Regulation is February 08, 2013. United Bank of India has informed BSE that the Extra Ordinary General Meeting (EGM) of the Bank will be held on March 12, 2013. (As per BSE Announcement Dated on 14.02.2013) United Bank of India has informed BSE regarding the details of Voting results at the Extra Ordinary General Meeting of the Bank held on March 12, 2013, under Clause 35A. (As per BSE Announcement Dated on 12.03.2013) 
27-Mar-12
United Bank of India has informed BSE that the Bank proposes to issue 16578299 fresh equity shares of Rs. 10/- each to Life Insurance Corporation of India and 21671011 fresh equity shares of Rs. 10/- each to President of India at a price of Rs. 79.74 per equity share by way of Preferential Allotment as per Chapter VII of the SEBI (Issue of Capital & Disclosure Requirements) Regulations 2009 (ICDR). Government vide its letter dated December 27, 2011 has communicated that the Bank's request to the Government to infuse Rs. 305 Crores in the Tier I capital of the Bank by way of preferential allotment of equity shares is being actively considered. LICI has communicated its in-principle approval to the preferential allotment vide its letter dated February 23, 2012. Shares shall be issued in dematerialised form and the entire share capital including the fresh issue shall be subject to lock-in as per the relevant provision of ICDR. The relevant date for the preferential allotment is February 24, 2012. The Bank has called the Extra Ordinary General Meeting on March 27, 2012 for the purpose of this issue. United Bank of India has informed BSE that an Extraordinary General Meeting (EGM) of the Bank will be held on March 27, 2012.inter alia, to transact the following business: 1. To create, offer, issue and allot up to 1,65,78,299 (One Crore Sixty Five Lakh Seventy Eight Thousand Two Hundred Ninety Nine) equity shares of Rs.10/- each (Rupees Ten only) for cash at Rs.79.74 per share in accordance with Regulation 76(1) of SEBI ICDR Regulations and aggregating up to Rs.132.20 Crore on preferential basis to Life Insurance Corporation of India and/or various Schemes of Life Insurance Corporation of India (LIC), and 2. To create, offer, issue and allot up to 2,16,71,011 (Two Crore Sixteen Lakhs Seventy One Thousand Eleven) equity shares of Rs. 10/- each (Rupees Ten only) for cash at Rs. 79.74 per share in accordance with Regulation 76 (4) of SEBI ICDR Regulations and aggregating up to Rs. 172.80 Crore on preferential basis to the President of India, acting on behalf of Government of India'. The Relevant Date for determination of the Issue Price is February 24,2012. (For more details kindly refer Corporate Announcements on www.bseindia.com). (As Per BSE Announcement Dated on 02.03.2012) United Bank of India has informed BSE that the Extra Ordinary General Meeting (EGM) of the Bank was held on March 27, 2012. (As Per BSE Announcement Website dated on 27.03.2012) 
23-Mar-11
United Bank of India has informed BSE that the Board of Directors of the Bank at its meeting held on February 19, 2011, inter alia, have considered, noted and approved : Preferential Allotment of Equity Shares to the Government of India in terms of Chapter VII of the SEBI (Issue of Capital & Disclosure. Requirements) Regulations 2009 pursuant to the Ministry of Finance, letter dated February 15, 2011 conveying Government's decision to infuse Rs. 308 Crore ( Rupees Three Hundred and Eight Crore only) by way of preferential allotment of Equity in favour of Government of India. Board decided to initiate necessary steps to raise capital by creating, offering, issuing and allotting such number of equity shares of face value of Rs. 10/- each for cash at such price as may be determined by the Board in accordance with Regulation 76 (1) of SEBI ICDR Regulations and aggregating to Rs. 308 Crore on preferential basis to Government of India. Board also decided that February 21, 2011 shall be considered as the 'Relevant Date' for the purpose of determination of the price at which the Preferential Allotment shall be made and fixed March 23, 2011 for the Extraordinary General Meeting of the Shareholders. United Bank of India has informed BSE that the Extra Ordinary General Meeting (EGM) of the Bank will be held on March 23, 2011. (As Per BSE Announcement Website dated on 25.02.2011) United Bank of India has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Bank held on March 23, 2011, inter alia, have passed the Special Resolution in connection with the private placement of 279,89,821 equity shares to its promoter, Government of India, pursuant to the Government's decision to infuse Rs. 308 crorein the Tier-I capital of the Bank. (As Per BSE Announcement Website dated on 23.03.2011) 
26-Nov-10
United Bank of India has informed BSE that an Extra-Ordinary General Meeting (EGM) of the Shareholders of the Company will be held on November 26, 2010, for the purpose of election of one director by the shareholder's other than Central Government, in terms of Section 9(3)(i)(I) of the Banking Companies (Acquisition & Transfer of Undertakings) Act 1970. United Bank of India has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on November 26, 2010, Sri. Saumen Majumder has been elected as the Director of the Bank from amongst the Shareholders of the Bank other than the Central Government pursuant to the provision of Section 9(3)(i) of The Banking Companies (Acquisition and Transfer of Undertakings) Act 1970. (As Per BSE Announcement Website dated on 29.11.2010) United Bank of India has submitted to BSE a copy of Proceedings of Extraordinary General Meeting (EGM) of the Bank held on November 26, 2010. (As Per BSE Announcement Dated on 02.12.2010) 

Peer Comparison

Company Market Cap
(Rs. in Cr.) 		P/E (TTM)
(x) 		P/BV (TTM)
(x) 		EV/EBIDTA
(x) 		ROE
(%) 		ROCE
(%) 		D/E
(x)
St Bk of India 165,849.91 11.16 1.91 14.68 15.7 0.0 0.00
Bank of Baroda 31,322.26 6.88 1.01 14.70 20.6 0.0 0.00
Punjab Natl.Bank 29,505.91 6.21 0.94 13.82 21.1 0.0 0.00
Canara Bank 19,465.42 6.78 0.85 12.24 17.0 0.0 0.00
Bank of India 19,360.79 7.04 0.90 14.07 15.0 0.0 0.00
Union Bank (I) 14,531.84 6.73 0.93 13.89 14.8 0.0 0.00
IDBI Bank 12,081.38 6.42 0.62 11.97 13.4 0.0 0.00
Syndicate Bank 7,846.42 3.91 0.82 13.82 17.9 0.0 0.00
Oriental Bank 7,763.73 5.85 0.64 12.18 10.7 0.0 0.00
Central Bank 7,275.50 7.17 0.79 13.64 5.0 0.0 0.00
Indian Bank 6,893.51 4.36 0.66 12.50 19.9 0.0 0.00
Allahabad Bank 6,415.38 5.41 0.61 12.98 21.6 0.0 0.00
Corporation Bank 6,401.58 4.46 0.67 12.23 19.5 0.0 0.00
UCO Bank 6,077.49 9.84 0.82 13.35 19.4 0.0 0.00
I O B 5,918.86 10.43 0.50 13.41 11.1 0.0 0.00

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Key Information

Key Executives:

Deepak Narang , Executive Director  

Sandeep Kumar , Nominee (Govt)  

Surekha Marandi , Nominee (RBI)  

Sunil Goyal , Director(PartTime NonOfficial)  

Company Head Office / Quarters:
11 Hemanta Basu Sarani,
,
Kolkata,
West Bengal-700001
Phone : 91-033-22487472
Fax : 91-033-22489391
E-mail : investors@unitedbank.co.in
Web : http://www.unitedbankofindia.com
Registrars:
Link Intime India Pvt Ltd
C-13 Pannalal Silk
Mills Cmpd LBS Marg
Bhandup West
Mumbai - 400 078

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