NE

News Elementor

NE

News Elementor

What's Hot

Union Bank Of India announces Q1 FY2022 Results

Table of Content

No headings found

Mumbai : Union Bank of India – a leading public sector bank of the country – reported 255% increase in its net profit to Rs 1,181 crore for the first quarter ended June 30, 2021 as compared to Rs 333 crore recorded during the quarter ended June 30, 2020. The robust growth in net profit is due to healthy growth in net interest income and other income. The operating profit grew by 31.5% on Y-o-Y to Rs 5,303 crore for the quarter.

Net Interest Income of Bank grew by 9.53% on YoY to Rs 7,013 crore during Q1FY22.

“Rajkiran Rai G,MD & CEO Union Bank of India said, “It was a Covid disrupted quarter with second wave impacting life and livelihood. Banking industry continued to anchor relief efforts through enhanced liquidity and credit measures. Encouragingly high frequency data signaled revival in activity as mirrored in googled mobility indicators, power consumption, rail freight and UPI transactions improving sequentially. With rise in vaccination, it augers well with business opportunities going forward.”

“We believe our operating profit will be sufficient for any provision requirement. Going forward the capital raising will only be for the growth purposes.”

Bank continues to demonstrate a strong liability franchise – The CASA deposits have increased by 11.23% YoY. The Bank’s total deposits base is at Rs.9,08,528 Crores as at the end of Q1FY22. CASA ratio improved to 36.39% from 33.30% on YoY basis. Credit in Retail, Agri and MSME (RAM) segments grown by 8.92% on YoY basis – Bank registered 10.61% growth in Retail, 12.70% growth in Agriculture and 3.33% growth in MSME advances on YoY basis. RAM advances as % of Domestic Advances improved by 451 bps on YoY basis to 56.08%. Reduction in NPA – Gross NPA percentage reduced by 135 bps on YoY basis to 13.60% and Net NPA percentage reduced by 28 bps on YoY basis to 4.69% as on 30.06.2021. Improved capital ratios – CRAR improved from 11.62% as on 30.06.2020 to 13.32% as on 30.06.2021.

-Odisha Age

newodishaage

defigosolutions@gmail.com https://odishaage.com

Recent News

Trending News

Editor's Picks

Air India London-Ahmedabad Flight Crash: Preliminary Report Raises More Questions Than Answers

Bhubaneswar:More than a month after one of India’s deadliest aviation disasters, the preliminary investigation report into the Air India London-Ahmedabad Boeing flight crash has been released by the Aircraft Accident Investigation Bureau (AAIB). The crash, which occurred on June 12, claimed the lives of all 260 people on board, leaving the nation in shock and...

Bhajanlal Commercial Pvt. Ltd. Bhajanlal Unveils the Vivo X200 FE in Eastern India: A Synergy of Innovation and Trust

Kolkata: In a striking reaffirmation of its market leadership, Bhajanlal Commercial Pvt. Ltd., Eastern India’s foremost name in premium consumer electronics, unveiled the Vivo X200 FE across its flagship outlets. More than just another product unveiling, the event underscored Bhajanlal’s role as a trusted catalyst in bringing world-class technology to Indian consumers. Bhajanlal: The Epitome of Trust, Scale...

Rising Crimes Against Women in Odisha Raise Alarms Over Safety and Governance

Bhubaneswar, July 29:A steady and deeply troubling rise in crimes against women in Odisha has sparked growing concern among citizens, rights activists, and political observers. Reports from multiple districts suggest that incidents of gang rape, molestation, and acid attacks have increased significantly over the past 2–3 years, raising serious questions about the efficacy of state...

A Timeless Ritual, Now in a New Look: Aroma Magic Relaunches Its Signature Essential Oils – Pure, Trusted, and Now More Elegant Than Ever

New Delhi: Blossom Kochhar Aroma Magic, the premier aromatherapy company in India, proudly announces the relaunch of its iconic range of Essential Oils, now presented in an all-new, elegant avatar.  While the look has evolved, the soul of the product remains unchanged—100% pure, therapeutic-grade essential oils, crafted with love, care, and nature’s finest extractions. Fifteen oils are now...

OPPO India Launches Reno14 Series with 3.5x Telephoto Camera, Wireless Charging, India First Media Tek Dimensity 8450, and much more

 The Reno14 Series comes with dedicated lossless 3.5x Telephoto Zoom for enhanced portraits. ●              The Reno14 Series has an ultra-durable aerospace-grade body with up to IP66, IP68 and IP69 certifications ●              The Reno14 Pro is the first phone in the world powered by the 4nm Media Tek Dimensity 8450 chipset ●              OPPO Pad SE also debuts alongside Reno14...

NE

News Elementor

Lorem Ipsum is simply dummy text of the printing and typesetting industry.

Popular Categories

Must Read

©2024- All Right Reserved. Designed and Developed by  Blaze Themes