Union Bank Q2 net up 77% at Rs 658 crore

Union Bank of India today reported a massive jump of 77% in its net profit to Rs 658 crore for the September quarter.

The bank had reported net profit of Rs 371 crore in the July-September quarter of the previous fiscal.

Global business grew by 7.4% to Rs 5,84,687 crore as on September 30 of the current fiscal, while deposits soared by 10.2% to Rs 3,30,665 crore, Union Bank said in a statement.

Advances grew by 3.9% to Rs 2,54,022 crore.

Net interest income for July-September quarter of 2015-16 increased by 0.8% to Rs 2,102 crore from Rs 2,085 crore in the same quarter of last fiscal.