 "Union Bank Q4 net drops 23% on higher provisioning")
The bank had clocked a net profit of Rs 578.91 crore in the January-March quarter of 2013-14 financial year.
Provisioning for bad loans rose to Rs 1,009 crore during fourth quarter of 2014-15, from Rs 920 crore in same quarter last year.
Also Read
Gross non-performing assets (NPA) of the bank rose to 4.96 per cent at the end of March from 4.08 per cent in a year ago period.
Total income increased to Rs 9,383.71 crore during the fourth quarter, from Rs 8,444.95 crore last year.
For the full 2014-15 fiscal, the bank reported a net profit of Rs 1,781.64 crore, up 5.04 per cent at over Rs 1,696.20 crore in the previous financial year.
Total income in 2014-15 increased to Rs 35,606.96 from Rs 32,170.93 crore in 2013-14 fiscal.
Share of Union Bank were trading at Rs 143.90, up 2.60 per cent on the BSE.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%