Union Bank of India Friday announced a 57 percent jump in net profit for the
second quarter of the current financial year.
The bank has posted net profit of Rs.554 crore for the July-September quarter
of 2012-13 as compared to Rs.353 crore recorded during the corresponding
quarter of the previous year, registering an increase of 56.94 percent.
The bank's net interest income grew by 11.38 percent to Rs.1,850 crore during
the second quarter of the current financial year as compared to Rs.1,661 crore
recorded in the corresponding period of 2011-12.
Gross non-performing assets (NPA) of the bank declined to 3.66 percent as on
Sep 30, 2012 as compared to 3.76 percent recorded at the end of the previous
The net NPA stood at 2.06 percent at the end of the second quarter as against
2.20 percent recorded in the first quarter of 2012.
Union Bank share price rallied 6.22 percent to Rs.219.30 at the Bombay Stock
Exchange (BSE) Friday after the company announced its better-than-expected