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  1. #1
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    Default Union Bank Q4 net rises to Rs.773 crore

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    Union Bank of India reported a 29.4 per cent rise in net profit at Rs.773.19 crore for the fourth quarter ended March 31, 2012, against Rs.597.57 crore in the year-ago period. Total income increased to Rs.6,498.79 crore, up 24.6 per cent from Rs.5,215.81 crore a year ago, it said.

    During the full year ended March 31, 2012, the net profit declined by 15.14 per cent to Rs.1,755.75 crore from Rs.2,069.03 crore in 2010-11. Total income increased to Rs.23,468.79 crore from Rs.18,500.66 crore.

    D. Sarkar, Chairman and Managing Director, said the bank aimed to maintain the net interest margin (NIM) at above 3 per cent for the current fiscal and would be looking to grow credit and deposits at 19 per cent and 17 per cent, respectively.

    The low-cost current and savings account deposits constituted 31.28 per cent of the deposits as on March 31, 2012.
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  2. #2
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    Default Union Bank Q4 net up 29% to Rs 773 cr




    Public sector lender Union Bank of India on Wednesday reported 29.4 per cent rise in net profit to Rs 773.19 crore for the fourth quarter ended March 31, 2012.

    The lender had posted a net profit of 597.57 crore in the January-March quarter of 2010-11.

    Union Bank's total income in the fourth quarter increased to Rs 6,498.79 crore, up 24.6 per cent from Rs 5,215.81 crore a year ago, it said.

    During the full year ended March, 2012, the bank's net profit declined by 15.14 per cent to Rs 1,755.75 crore from Rs 2,069.03 crore in 2010-11.

    Meanwhile, total income during FY 2011-12 increased to Rs 23,468.79 crore, up from Rs 18,500.66 crore a year earlier.

 

 

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