Union Bank of India appoints executive director, redeems bonds

Union Bank of India has announced the appointment of Amresh Prasad as executive director, effective November 24, 2025. Prasad, previously chief general manager at Punjab National Bank, will serve for three years or until his superannuation on October 31, 2028. He brings over 32 years of banking experience, including corporate credit and transaction monitoring.

In a related development, Union Bank of India has also informed the exchange of its decision to exercise a call option for its XXVII series bonds (ISIN: INE692A08110) with an issue size of ₹500 crores and a coupon rate of 8.73%. The redemption payment date for these bonds is scheduled for December 15, 2025, with a record date of November 30, 2025.

Amresh Prasad has no existing relationships with other directors and is not debarred from holding his new office.