Union Bank of India has received USD 18.37 million (USD 18,369,485.95) as part of an interim distribution of capital repatriation following the Member’s Voluntary Liquidation (MVL) of India International Bank Malaysia (IIBMB), according to an official regulatory filing made on Friday, December 19.
In its disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the bank informed exchanges that the amount was received from the liquidator of IIBMB. The Malaysia-based entity was a joint venture of three public sector banks — Bank of Baroda, Union Bank of India, and Indian Overseas Bank.
Union Bank of India holds a 25% stake in the joint venture, and the received amount represents its share from the interim capital distribution arising out of the liquidation process. The bank clarified that the receipt pertains specifically to capital repatriation and not operational income.
The disclosure was submitted to both BSE and NSE, where Union Bank of India’s shares are listed under the scrip code 532477 on BSE and UNIONBANK-EQ on NSE .
The filing was signed by Mangesh Mandrekar, Company Secretary, and stated that the update was being shared for the information of investors and stakeholders.
While the bank did not disclose how the proceeds would be utilised, such capital inflows typically strengthen liquidity and improve the capital position, especially when arising from overseas joint venture exits.
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