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Union Bank of India Q4FY17: Standalone net profit rises 12.6% YoY
May 12, 2017
- Union Banks’ NII for the quarter came in at Rs. 2387 crore up 14.5% YoY.
- Gross NPA for the quarter stood at 11.17% as against 8.7% in the corresponding quarter of last year. Gross NPA during the quarter stood at Rs. 33712.28 crore as against Rs. 24170.89 crore in corresponding quarter of last year. Capital adequacy ratio for the period was 11.79%.
- Provision for the period jumped by 56.2% YoY to Rs. 2,444.
- The company reported a 12.6% YoY increase in net profit to reach at Rs. 108 crore.
- Looking at full year numbers, we see that NII remained flat at Rs. 32660 crores versus 32199 crores in FY16. Net profit during FY17 declined substantially 59% YoY to Rs. 555.2 crore.
