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Union Bank of India’s single profit up 8 per cent at Rs 1,440 crore

New Delhi. State-owned Union Financial institution of India on Friday mentioned its internet revenue on a standalone foundation rose eight per cent to Rs 1,440 crore within the January-March quarter of FY 2021-22.

Union Financial institution mentioned within the info despatched to the inventory exchanges that its internet revenue in the identical quarter of the monetary 12 months 2020-21 was Rs 1,330 crore. The entire earnings of the financial institution elevated to Rs 20,417.44 crore within the fourth quarter of FY 2021-22, which 19,804.91 crore in the identical interval a 12 months in the past.

The financial institution’s internet revenue on a standalone foundation rose 80 per cent to Rs 5,232 crore for the final monetary 12 months. Its internet revenue stood at Rs 2,906 crore within the monetary 12 months 2020-21. Nonetheless, within the monetary 12 months ended March 31, 2022, the financial institution’s whole earnings declined marginally to Rs 80,468.77 crore as in opposition to Rs 80,511.83 crore a 12 months in the past.

The financial institution’s gross non-performing belongings (NPAs) stood at 11.11 per cent of gross advances within the monetary 12 months 2021-22 as in opposition to 13.74 per cent in the identical interval a 12 months in the past. Which stood at Rs 89,788.20 crore in the identical interval of the monetary 12 months 2020-21.

The financial institution’s internet revenue on a consolidated foundation elevated by practically 23 per cent to Rs 1,557 crore within the March quarter of FY 2021-22 as in opposition to Rs 1,269 crore within the year-ago interval. Nonetheless, its internet earnings stood at Rs 20,681.40 crore. 19,353.85 crore. In the meantime, the Board of Administrators of Union Financial institution has really useful a dividend of Rs 1.90 per fairness share for the monetary 12 months 2021-22.

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