Union Bank of India advances as net NPA ratio drops on sequential basis in Q4

Union Bank of India rose 2.17% to Rs 143.30 at 13:13 IST on BSE as the bank's ratio of net non-performing assets to net advances declined to 2.71% as on 31 March 2015 compared with 2.95% as on 31 December 2014.

The Q4 result was announced during market hours today, 12 May 2015.

Meanwhile, the S&P BSE Sensex was down 566.87 points or 2.06% at 26,940.43.

On BSE, so far 15.24 lakh shares were traded in the counter as against average daily volume of 5.46 lakh shares in the past one quarter.

The stock hit a high of Rs 147.25 and a low of Rs 134.25 so far during the day. The stock had hit a 52-week high of Rs 259.60 on 9 June 2014. The stock had hit a 52-week low of Rs 129.80 on 8 May 2015.

The stock had underperformed the market over the past one month till 11 May 2015, sliding 13.02% compared with Sensex's 4.75% fall. The scrip had also underperformed the market in past one quarter, declining 21.95% as against Sensex's 3.6% fall.

The mid-cap PSU bank has equity capital of Rs 635.78 crore. Face value per share is Rs 10.

Union Bank of India's ratio of net non-performing assets (NPAs) to net advances stood at 2.71% as on 31 March 2015 compared with 2.95% as on 31 December 2014 and 2.33% as on 31 March 2014. The ratio of gross NPAs to gross advances stood at 4.96% as on 31 March 2015 as against 5.08% as on 31 December 2014 and 4.08% as on 31 March 2014.

Union Bank of India's net profit fell 23.34% to Rs 443.77 crore on 11.11% growth in total income to Rs 9383.71 crore in Q4 March 2015 over Q4 March 2014.

Net interest income rose 3.4% to Rs 2122 crore in Q4 March 2015 over Q4 March 2014.

The bank's domestic net interest margin (NIM) stood at 2.46% in Q4 March 2015 compared with 2.57% in Q3 December 2014 and 2.62% in Q4 March 2014. Global NIM was at 2.37% in Q4 March 2015 as against 2.5% in Q3 December 2014 and 2.55% in Q4 March 2014.

The bank's provisions and contingencies rose 9.71% to Rs 1009.94 crore in Q4 March 2015 over Q4 March 2014. Provision coverage ratio increased to 59.23% as on 31 March 2015, from 57.25% as on 31 December 2014 but declined from 59.89% as on 31 March 2014.

Union Bank of India's Capital Adequacy Ratio (CAR) as per Basel III stood at 10.22% as on 31 March 2015 as against 10.3% as on 31 December 2014 and 10.8% as on 31 March 2014.

The Government of India (GoI) held 60.47% in Union Bank of India (as per the shareholding pattern as on 31 March 2015).

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