Union Bank of India reported a net profit of Rs 518.78 crores for the quarter ending June 30, 2015, as against Rs 443.77 reported in the previous quarter.
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Asset quality worries continue to weigh down public sector banks which have been grappling with non performing assets. Another PSU bank, Punjab National Bank which also reported numbers managed to see a slight improvement in asset quality.
The shares of Union Bank of India were trading flat at Rs 154, following the results.