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Board of United Bank of India approves raising Additional Tier - 1 capital up to Rs 10000 crore

United Bank of India announced that the Board of Directors of the Bank at its meeting held on 11 February 2016, has approved the proposal for raising Additional Tier - 1 capital under BASEL-III norms up to Rs. 1000.00 crore . through issuance of Perpetual Debt Instruments in the form of subordinated, non-convertible, non-cumulative, listed, Basel-Ill compliant Additional Tier1 Bonds in the form of Debenture/ Promissory Notes of the face value of Rs. 10.00 lakh each on private placement basis for inclusion in the Additional Tier1 Capital of the Bank for the purpose of ascertaining the capital adequacy ratios.

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