Union Bank of India to get capital infusion of Rs 1,154-crore

15 Mar 2013 Evaluate

State-run, Union Bank of India (UBI) is likely to get the capital infusion of Rs 1,154-crore before this month-end by the Union Government. The lender had asked for Rs 900 crore and the Government have approved infusion of Rs 1,154 crore. Union Bank had a capital adequacy ratio of 10.78%, as on December 31, 2012.

The bank has reported 37.67% rise in its net profit at Rs 302.40 crore for third quarter ended December 31, 2012 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.

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