Union Bank of India posted an impressive financial performance for Q3 FY25, with net profit surging 28.24% YoY to ₹3,590 crore, compared to ₹2,799 crore in the same quarter last year. This growth was attributed to higher net interest income (NII) and improved asset quality.
The bank’s NII grew marginally by 0.79% YoY to ₹9,240 crore from ₹9,168 crore, while non-interest income saw a robust increase of 17.02% YoY, reaching ₹4,417 crore.
Asset quality also improved significantly, with Gross Non-Performing Assets (GNPA) declining by 15.51% YoY to ₹36,554 crore, and Net NPA reducing by 19.07% YoY to ₹7,568 crore. GNPA as a percentage of total advances improved to 3.85%, and Net NPA stood at 0.82%.
Key operational highlights included a 5.94% YoY growth in global advances to ₹9,49,164 crore and a 3.76% increase in deposits to ₹12,16,562 crore. Operating profit grew by 2.94% YoY to ₹7,492 crore, with Return on Assets (ROA) improving by 23 bps YoY to 1.30% and Return on Equity (ROE) rising by 50 bps to 17.75%.
As of 9:50 AM, Union Bank of India shares were trading 3.18% higher at ₹108.95 on the NSE, reflecting positive investor sentiment following the strong quarterly results.
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