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


Union Bank Of India's December quarter profit rose 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 recorded a 49% increase in net profit to Rs 1,085 crore in the third quarter of the current financial year.

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

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

In terms of asset quality, the bank’s total loss of assets (NPA) fell to 11.62% of total advances at the end of December 2022, compared with 13.49% at the end of the month. December 2020.

However, the net NPA increased to 4.09%, up from 3.27% at the end of December 2020.



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