Union Bank of India Q3 net profit up 8.6% at Rs 580 cr
Union Bank of India has declared its results for the quarter ended December 2010. It has reported net profit of Rs 580 crore in Q3FY11 as against Rs 534 crore, a growth of 8.6% on year-on-year basis.
January 24, 2011 / 12:10 IST
Union Bank of India has declared its results for the quarter ended December 2010. It has reported net profit of Rs 580 crore in Q3FY11 as against Rs 534 crore, a growth of 8.6% on year-on-year basis.
Net interest income went up by 51.78% to Rs 1,616 crore from Rs 1064.7 crore.Other income increased to Rs 493.6 crore from Rs 440 crore. Gross non-performing assets went up to Rs 3,580 crore from Rs 2,092 crore (2.68% versus 1.96%). Net non-performed asset rose to Rs 1,597.4 crore from Rs 613.1 crore (1.15% versus 1.29%).Operating expenses were up by 38% to Rs 848.3 crore from Rs 615.2 crore. Provisions increased to Rs 400 crore from Rs 160 crore (YoY). (Adhoc provision of Rs 120 crore for second pension liability (Rs 360 crore provision made for 9MFY11)) Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
