Operating profit improved by 12.35% to Rs 8,113 crore in Q2 FY25 from Rs 7,221 crore in Q2 FY24.
Total provisions stood at Rs 3,393 crore in Q2 FY25, down 8.52% YoY and up 17.36% QoQ.
Gross NPA of the bank amounted to Rs 40,499 crore as on 30 September 2024 as against Rs 54,012 crore as on 30 September 2024. Gross NPA ratio reduced by 202 basis points (bps) on YoY basis to 4.36% and net NPA ratio reduced by 32 bps on YoY basis to 0.98% as on 30 September 2024.
Deposits of the bank increased by 9.17% YoY to Rs 12,41,947 crore while global advances rose by 9.63% YoY to Rs 9,28,832 crore as on 30 September 2024.
The bank's return on assets & return on equity stood at 1.35% and 19.10%, respectively, during Q2 FY25.
CRAR improved from 16.69 % as on 30 September 2023 to 17.13% as on 30 September 2024. CET-1 ratio improved to 13.88% as on 30 September 2024 from 13.05% as on 30 September 2023.
Union Bank of India is engaged in the business of treasury operations, corporate and wholesale banking, retail banking operations and other banking operations. The Government of India held 74.76% stake in the bank. As on 30 June 2024, the bank has 8,473 branches including foreign branches and 9,342 ATMs.
Shares of Union Bank of India shed 0.85% to Rs 110.70 on the BSE.
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Valued Customer,
BOB Capital Markets Limited (BOBCaps) is firmly committed to the safety of your wealth. We would like to bring to your notice certain precautions that you certainly must take against potential tele-fraudsters/ unscrupulous and unregistered portfolio managers:
ALWAYS AVOID
Certain tele-fraudsters / unscrupulous and unregistered portfolio managers call customers or SMS them on the pretext of providing investment tips and lure them to invest through their bogus firms by promising huge profits. Such deceitful callers ask the customer to share his/her login credentials with passwords to allow trading in their accounts, assuring huge returns. Often trades done in the customer’s accounts are far from the best interest of the customers. Holdings of customers are often sold and with the funds, trades are then placed in illiquid securities at unrealistic prices. At times, the holdings of customers are sold at prices detrimental to the customer.
The so-called “portfolio manager” assures profits, which naturally does not materialize. Customers are deceived into providing access to their trading accounts, thereby allowing such fraudsters access to funds and securities available to execute trades, injurious to the customer’s interest.
We would like to caution you against such fraudulent calls and SMSes and urge you to be alert. Follow the golden rule:
Do not share your Login Credentials or Passwords with anybody
BOBCaps employees / representatives never ask for your password.
The following illicit activities by the persons named herein have come to the notice of Stock Exchanges: