Public sector lender Union Bank of India (UBI) has reported a decline of 32.4 per cent in its standalone net profit at Rs 104 crore for the third quarter ended December 31 2016 on healthy earnings from interest.
The bank had posted standalone net profit of Rs 78.54 crore in corresponding quarter of previous fiscal Union Bank of India said in a filing to the BSE.
The total income of the bank too grew by 8.9 per cent to Rs 9589.45 crore in Q3 FY17 from Rs 8802.06 crore in Q3 FY16.
During the quarter under review the bank’s gross non-performing assets grew 11.7 per cent of total loans compared with 7.05 per cent in the year-ago quarter. Net NPA of the bank too increased to 6.95 per cent against 4.07 per cent in the corresponding period last year.
NII the difference between interest earned on loans and interest paid on deposits rose 7 per cent at Rs 2136.62 crore versus Rs 1996.51 crore in the year ago period. Further non-interest income surged 50.1 per cent to Rs 1339.67 crore from Rs 892.69 crore in the same period a year ago.
Meanwhile shares of the Bank were trading at Rs 154.05 apiece down 7.62 per cent from previous close on BSE at 12:39 hours.
The bank had posted standalone net profit of Rs 78.54 crore in corresponding quarter of previous fiscal Union Bank of India said in a filing to the BSE.
The total income of the bank too grew by 8.9 per cent to Rs 9589.45 crore in Q3 FY17 from Rs 8802.06 crore in Q3 FY16.
During the quarter under review the bank’s gross non-performing assets grew 11.7 per cent of total loans compared with 7.05 per cent in the year-ago quarter. Net NPA of the bank too increased to 6.95 per cent against 4.07 per cent in the corresponding period last year.
NII the difference between interest earned on loans and interest paid on deposits rose 7 per cent at Rs 2136.62 crore versus Rs 1996.51 crore in the year ago period. Further non-interest income surged 50.1 per cent to Rs 1339.67 crore from Rs 892.69 crore in the same period a year ago.
Meanwhile shares of the Bank were trading at Rs 154.05 apiece down 7.62 per cent from previous close on BSE at 12:39 hours.
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