Union Bank Of India’s December quarter profit climbs 49% to Rs 1,085 Crore

Union Bank of India’s third-quarter net profit jumped 49%

New Delhi:

State-owned lender Union Bank of India posted a 49% increase in net profit to Rs 1,085 crore for the third quarter of the current financial year.

The bank had made a net profit of Rs 727 crore in the corresponding quarter of the previous financial year.

Total revenue in the October-December quarter 2021-22 fell to Rs 19,453.74 crore from Rs 20,102.84 crore in the corresponding quarter of the previous fiscal year, Union Bank said. of India in a regulatory filing.

On the asset quality front, the bank’s gross non-performing assets (NPA) fell to 11.62% of gross advances at the end of the December 2022 quarter, from 13.49% at the end of December 2020. .

However, net NPAs rose to 4.09% from 3.27% at the end of December 2020.

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