Union Bank of India in South Africa

Union Bank of India Enhances Global Footprint Amidst Strategic Partnerships

October 23, 2025

Union Bank of India (UBI), a prominent public sector bank, has been actively expanding its international presence through strategic collaborations and technological advancements. Notably, UBI has become the first major Indian bank to join the Partnership for Carbon Accounting Financials (PCAF), underscoring its commitment to climate risk management and sustainable banking practices. (financialexpress.com)

In the African continent, UBI’s initiatives have been part of a broader trend of Indian financial institutions strengthening their ties with African markets. For instance, the State Bank of India (SBI) and the Export-Import Bank of India (EXIM Bank) have been instrumental in supporting African trade growth. SBI now caters to more than 40 nations on the African continent, assisting Indian corporates with their bank guarantee requirements. (outlookbusiness.com)

While there have been challenges, such as the South African Reserve Bank imposing penalties on some Indian banks for compliance issues, these instances highlight the importance of adhering to local regulations. UBI’s proactive approach in joining global initiatives like PCAF positions it favorably in the international banking landscape. (timesofindia.indiatimes.com)

As UBI continues to forge international partnerships and embrace sustainable banking practices, its role in the global financial ecosystem is set to expand, contributing to the growth and diversification of India’s banking sector.