Union Bank Q3 PBT up over three fold to Rs 582 cr on dip in NPA provision

Better number also aided by NII, which saw an uptick of 25.7%

Public sector lender Union Bank of India’s profit before tax (PBT) rose over three times to Rs 582.4 crore in the third quarter of the current financial year (Q3FY20) on a substantial rise in net interest income and dip in provisions for bad loans.

The Mumbai-based lender had posted PBT of Rs 133.25 crore in Q3FY19.

Net profit stood at Rs 574.58 crore in the quarter, as against Rs 153.21 crore in Q3FY19.

Its stock closed 4.2 per cent higher at Rs 50.95 per share on the BSE.

The bank said in a statement that its net interest income (NII)