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Friday, November 6, 2015

Union Bank net zooms 77% at Rs. 658 cr

Union Bank of India today reported a massive jump of 77 per cent in its net profit to Rs. 658 crore for the September quarter.

The bank had reported net profit of Rs. 371 crore in the July—September quarter of the previous fiscal.

Global business grew by 7.4 per cent to Rs. 5,84,687 crore as on September 30 of the current fiscal, while deposits soared by 10.2 per cent to Rs. 3,30,665 crore, Union Bank said in a statement.

Advances grew by 3.9 per cent to Rs. 2,54,022 crore.

Net interest income for July—September quarter of 2015—16 increased by 0.8 per cent to Rs. 2,102 crore from Rs. 2,085 crore in the same quarter of last fiscal.

Source : Thehindubusinessline


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