Union Bank of India has reported results for fourth quarter and year ended March 31, 2015
The bank’s net profit slipped by 23.34% at Rs 443.77 crore for the quarter ended March 31, 2015 as compared to Rs 578.91 crore for the quarter ended March 31, 2014. Its total Income grew by 11.11% to Rs 9383.71 crore for the quarter under review from Rs 8444.95 crore for the corresponding quarter of the previous year.
For the year ended March 31, 2015, the bank’s net profit grew by 5.04% at Rs 1781.64 crore as compared to Rs 1696.20 crore for the previous year ended March 31, 2014. Its total income has increased by 10.68% to Rs 35606.96 crore for the year from Rs 32170.93 crore for the year ended March 31, 2014.
Union Bank of India has recommended dividend of 60% i.e. Rs. 6 per share and the same will be paid to the shareholders by July 06, 2015 subject to its approval in the ensuing Annual General Meeting of shareholders of the Bank.
