State-owned Union Bank of India has reported Q4 net profit of Rs 597 crore for the quarter ending March 31, 2011 as against Rs 594 crore in same quarter the previous year.
Net interest income increased 22.9% to Rs 1,716 crore from Rs 1,396 crore in the corresponding period of last year. Net interest margins stood at 3.44%.
Gross non-performing assets (NPA) declined at 2.37% as against 2.68% on quarter-on-quarter basis.
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