Union Bank Q1 net seen down 0.6% at Rs 223.8 cr

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Union Bank Q1 net seen down 0.6% at Rs 223.8 cr

Union Bank of India is to come out with Q1FY09 numbers. According to CNBC-TV18 estimates, its net profit is expected to go down by 0.6% at Rs 223.8 crore for the quarter ended June 2008 as against Rs 225.1 crore in same period of last year.

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Union Bank of India is to come out with Q1FY09 numbers. According to CNBC-TV18 estimates, its net profit is expected to go down by 0.6% at Rs 223.8 crore for the quarter ended June 2008 as against Rs 225.1 crore in same period of last year.

Net interest income is seen going down by 13.1% at Rs 825.5 crore from Rs 949.6 crore.

Factors

Likely to post loan growth in line with sector

Higher MTM provision and lower treasury gains

Fee income and CASA will be key monitorable

NII will be flat given margin pressure