New Delhi: Union Bank of India’s board of directors on Thursday approved raising up to $2 billion or nearly Rs 19,145.93 crore in foreign currency funds, according to an exchange filing. In a regulatory filing, the bank said its board had cleared a proposal to raise up to Rs 3,000 crore through equity issuance in one or more tranches. The board also approved raising up to Rs 5,000 crore through Basel III-compliant Additional Tier-I and Tier-II bonds, including instruments denominated in foreign currencies. Union Bank reported a net profit of Rs 5,332 crore for Q1 FY27, up 29.6 per cent from Rs 4,116 crore in previous year. Net interest income climbed nearly 10 per cent year‑on‑year to Rs 10,037 crore, while operating profit rose 15.8 per cent to Rs 8,003 crore.