Union Bank Q4 2013 outperforms; shares gain

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Union Bank Q4 2013 outperforms; shares gain
Union Bank of India: Quotes, News
BSE 144.50BSE Quote3.3 (2.28%)
NSE 144.65NSE Quote3.1 (2.14%)
Union Bank of India on Thursday reported net profit at Rs 789 crore for the quarter ended March 31, 2013 (Q4) against Rs 733 crore in Q4 of previous year.

The bank's net interest income rose by 8.7% to Rs 1,979 crore on year-on-year (yoy) basis. The board has recommended a dividend of 80% or Rs 8 per share for the financial year 2012-13.

 The gross non performing assets (NPA) stood at 2.98% against 3.36% and net NPA to 1.61% from 1.70% on sequential basis.

Shares of the bank were seen trading at Rs 250 higher by 4.64% on BSE at 1.20 pm IST.


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