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July 29th, 2016, 02:09 PM
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Join Date: Mar 2013
Re: Quarterly Profit of Union Bank of India

Union Bank of India reported a 78.34% fall in net benefit in the March quarter of 2016 as it set apart more cash to cover the danger of credit default and earned less premium and non-premium pay.

The bank reported a benefit of Rs.96.12 crore in the quarter, contrasted with Rs.443.77 crore a year back i.e 2015.

Net premium pay (NII), or the center wage a bank wins by giving advances, fell 1.71% to Rs.2,084.69 crore from Rs.2,121.05 crore a year ago same quarter.

The bank profited from an expense compose back of Rs.251.18 crore, which spared it from posting a net misfortune. In the year-back quarter, it paid Rs.198.58 crore in assessment.

Non-interest wage fell 12.8% to Rs.996.39 crore (2016) from Rs.1,143.07 crore (2015) in the same time frame a year ago.

Gross non-performing resources (NPAs) rose 85.49% to Rs.24,170.89 crore toward the end of the March quarter from Rs.13,030.87 crore a year prior. The bank reported gross NPA of Rs.18,495.16 a quarter prior.

Procurements and possibilities bounced 55% to Rs.1,564.67 crore (2016) from Rs.1,009.94 crore (2015) a year back. In the December quarter, the bank reported Rs.1,237.65 crore of procurements.


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