Union Bank of India has informed the Exchange regarding Cessation of Mr Avinash Vasant Prabhu as Chief Financial Officer of the company w.e.f. February 01, 2026.

CFO resignedKey managerial personnel resignedManagement Changes View source PDF Explain this filing

UNIONBANK · price

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Price reactionminutes from the announcement price · days from the prior close

-1.8%Reaction day

₹182.20

prior close

₹183.00

announcement price

After-mkt

timing

Nifty 100market · index membership as recorded later (tracked since Jun 2026)+0.3%-2.1% vs market

Public Sector Bank peers, median of 11sector-1.3%-0.4% vs sector

On the reaction day the stock moved 2.1 pts less than Nifty 100 and 0.4 pts less than its Public Sector Bank peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

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10m

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15m

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30m

-0.7

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-1.8+0.3-2.1-1.3-0.4

Next day

-1.2-0.2-1.0+0.4-1.6

-6.0-1.1-4.9-3.4-2.6

-4.2+1.4-5.6-2.4-1.7

-3.4+1.7-5.1-1.4-2.0

-3.0+1.2-4.2-1.5-1.5

-1.2+2.1-3.3+0.4-1.6

15d

+3.7+0.6+3.2+1.3+2.4

+9.1-1.5+10.6+3.0+6.1

-10.0-11.8+1.8-18.4+8.4

-8.2-3.2-5.0-8.7+0.5

UpDownMarket · Nifty 100Sector · Public Sector Bank peers, median of 11Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Union Bank of India has informed the stock exchange that Mr. Avinash Vasant Prabhu will cease to be the Chief Financial Officer of the bank with effect from February 01, 2026. As the CFO, he was responsible for managing the bank's finances, financial reporting, and compliance. The bank has not yet announced a replacement for the role. This is a key managerial personnel change at a major public sector bank.

Likely market impact

CFO exits at large PSU banks often lead to short-term uncertainty around financial reporting continuity, though they rarely derail operations. Investors should watch for the successor announcement and any upcoming quarterly results for stability signals.