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Union Bank of India reports 73% fall in Q2 net profit

05 Nov 2016 Evaluate

Union Bank of India has reported results for second quarter ended September 30, 2016. 

The Bank has reported 73.16% fall in its net profit at Rs 176.67 crore for the quarter under review as compared to Rs 658.16 crore for the same quarter in the previous year. Total income of the Bank increased by 2.71% at Rs 9347.58 crore for the quarter under review from Rs 9100.90 crore for the corresponding quarter previous year.  

The Bank’s gross NPA for the July- September quarter of the current fiscal increased to 10.73%, as compared to 6.12 % in the same quarter of the previous year. Besides, Bank’s Net NPA stood at 6.39% in Q2FY17.

Peers
Company Name CMP
State Bank Of India 961.70
PNB 116.10
Bank Of Baroda 230.00
Canara Bank 118.60
Union Bank Of India 172.00
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