Mumbai: State owned lender Union Bank of India declared their Q2 results with a colourful number. The bank made a net profit of Rs 3,511 crore for the July-September FY24 quarter, which marks a 90 percent jump compared to Rs 1,848 crore clocked in the year-ago period.
The net interest income (NII) for the quarter stood at Rs 9,126 crore, an increase of 10 percent, compared to Rs 8,305 crore reported in the corresponding quarter of the previous fiscal.
The bank’s gross non-performing asset (NPA) stood at 6.38 percent, down from 8.45 percent recorded in the same quarter last year. On the other hand, net NPA for the quarter stood at 1.30 percent, improving from 2.64 percent on a year-on-year basis.