Union Bank of India Q1 Profit Up 18.5% at Rs 664 Crore
Union Bank of India today reported 18.5 per cent increase in net profit at Rs 664.11 crore for the first quarter ended June 2014.
The state-owned bank had a net profit of Rs 560.22 crore during the corresponding period of the previous fiscal.
Total income of the bank rose to Rs 8,547.56 crore as against Rs 7,613.53 crore in the same quarter a year ago, Union Bank of India said in a statement.
Net interest income increased by 10.8 per cent to Rs 2,117 crore against Rs 1,910 crore in the first quarter of the previous fiscal.
The gross non-performance assets (NPA) as a proportion of advances went up to 4.27 per cent against 3.50 per cent at the end of June last year. Net NPA also rose to 2.48 per cent from 1.96 per cent.
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