State-run lender Union Bank of India has sought Rs 3000 crore from the government via preferential allotment of shares.
The bank has reported a rise of 9.51% in its net profit at Rs 560.22 crore for first quarter ended June 30, 2013, as compared to Rs 511.59 crore for the same quarter in the previous year. Total income from operation of the bank has increased by 16.04% to Rs 7613.53 crore for the quarter under review as compared to Rs 6561.10 crore for the quarter ended June 30, 2012.
Gross non-performing assets (NPAs) improved to 3.50% in the April-June quarter as against 3.76% in the same quarter previous year while, net NPAs decreased to 1.96%.
