Union Bank of India reports 38% rise in Q3 net profit

31 Jan 2013 Evaluate

Union Bank of India has reported results for third quarter ended December 31, 2012.

The bank has reported 37.67% rise in its net profit at Rs 302.40 crore for the quarter as compared to Rs 219.66 crore for the same quarter in the previous year. Total income of the bank has increased by 16.19% at Rs 6959.37 crore for quarter under review as compared to Rs 5989.48 crore for the quarter ended December 31, 2011.

The bank’s gross NPA for the December 31, 2012 quarter of the current fiscal stood at 3.36%, higher as compared to 3.33% in the same quarter of the previous year. However, bank’s Net NPA remained lower at 1.70% in the quarter under review as against 1.80% in Q3FY12.

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