Union Bank of India Q1 net profit up 36 pc

Jul 26, 2010 |

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Mumbai, July 26: Public sector lender Union Bank of India today reported a growth of 36.01 per cent in net profit for the first quarter ended June 30 to Rs 601.42 crore.

It had posted a net profit of Rs 442.19 crore for the corresponding quarter of the last fiscal, Union Bank of India said in a filing to the Bombay Stock Exchange.

The bank also reported an increase of 11.25 per cent in total income for the first quarter to Rs 4,120.66 crore against Rs 3,704 crore during the year-ago period.

Union Bank's gross non-performing assets (NPAs) increased to 2.19 per cent during the quarter ended June 30 from 1.95 per cent in the same quarter a year ago, it said.

Its net NPAs also went up to 0.94 per cent during the three-month period from 0.71 per cent during the first quarter of 2009-10.

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