'Union Bank of India has reported 14% growth in net profit
at Rs 3678.85 crore for the quarter ended June 2024 (Q1FY2025). The bank has
posted healthy 6% growth in net interest income (NII), while the core fee
income of the bank improved 34% in Q1FY2025. The Net Interest Margin (NIM) of
the bank eased to 3.05% in Q1FY2025 compared to 3.13% in the corresponding
quarter of previous year.
On business front, the bank as has posted 10% growth in business
with 11% increase in loan book. The asset quality of the bank has continued to
improve in Q1FY2025. The credit to deposit ratio increased to 74.5% at end June
2024 from 72.6% at end June 2023. However, the CASA ratio of the bank has
declined to 32.6% at end June 2024 from 34.1% at end June 2023.
Asset quality improves: The bank has continued
to improve asset quality in Q1FY2025.
The fresh slippages of loans stood at Rs 2318 crore in Q1FY2025
co...
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