Who is the Owner of Union Bank Of India?

Union Bank of India is majority-owned by the Government of India and became significantly larger in April 2020, when it absorbed two other public sector banks — Andhra Bank and Corporation Bank — as part of India’s sweeping PSU bank consolidation.

That merger transformed Union Bank of India into the fifth-largest public sector bank in the country by branch network and business volume, unlike the smaller banks it absorbed, which ceased to exist independently.

Quick Facts

Ownership History

Key Ownership Highlights

• Union Bank of India is one of the “surviving” larger banks from the 2020 consolidation round, absorbing rather than being absorbed — a contrast with United Bank of India, which was merged into Punjab National Bank in the same round.
• The Andhra Bank and Corporation Bank merger significantly expanded Union Bank of India’s southern India footprint, since both acquired banks had strong regional presences there.
• Like all major Indian public sector banks, ownership remains majority government-held, with periodic minority stake dilution to raise capital.

FAQ

Is Union Bank of India government-owned?

Yes, it’s majority-owned by the Government of India.

Did Union Bank of India merge with other banks?

Yes. It absorbed Andhra Bank and Corporation Bank effective April 1, 2020, becoming the 5th-largest Indian public sector bank.

Related Reading

Union Bank of India absorbed both Andhra Bank and Corporation Bank in the same 2020 government-mandated merger.

Related Reading

Union Bank of India also absorbed Corporation Bank in the same 2020 merger that folded in Andhra Bank.