 "union bank, andhra, corporation, banks")
Public sector lender Union Bank of India posted a net profit of Rs 517 crore in the September quarter as against loss of Rs 994 crore in the same period last year.
The figures for FY20 are aggregated numbers of Andhra Bank and Corporation Bank’s performance for the benefit of like to like comparison. These two banks were merged with Union Bank on April 1, 2020.
The bank's stock closed 1.45 per cent higher to Rs 24.5 per share on BSE.
The net interest income (NII) rose 6.05 per cent to Rs 6,293 crore, while the net interest margin (NIM)
