The asset quality both at the gross and the net level of the bank worsened. The gross non performing assets were placed at 5.53 per cent of loans against 4.96 per cent in the previous quarter. The net non performing assets were placed at 3.08 per cent from 2.71 per cent in the previous quarter.
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.
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