Union Bank of India has reported results for the fourth quarter and year ended March 31, 2016.
The bank has posted a fall of 78.34% in its net profit after tax at Rs 96.12 crore for the quarter ended March 31, 2016 as compared to Rs 443.77 crore for the same quarter in the previous year. Total income of the bank has decreased by 5.32% at Rs 8884.41 crore for quarter under review as compared to Rs 9383.71 crore for the quarter ended March 31, 2015.
For the year ended March 31, 2016, the bank has posted a fall of 24.14% in its net profit after tax at Rs 1351.60 crore as compared to Rs 1781.64 crore for the same period in the previous year. However, total income of bank increased 0.63% at Rs 35830.54 crore for year under review as compared to Rs 35606.96 crore for the period ended March 31, 2015.
