Union Bank Q1 Net Profits Rise; Asset Quality Deteriorates

Subscribe to GoodReturns
For Quick Alerts
For Daily Alerts

    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.

    Union Bank Q1 Net Profits Rise; Asset Quality Deteriorates
    Union Bank of India: Quotes, News
    BSE 96.00BSE Quote1.95 (2.03%)
    NSE 96.20NSE Quote2.05 (2.13%)
    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.

    Check share price of Union Bank and financials

    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.


    Read more about: union bank of india
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    Notification Settings X
    Time Settings
    Clear Notification X
    Do you want to clear all the notifications from your inbox?
    Settings X
    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more