Union Bank expects gross NPA in FY14 at under 3 percent of total assets

MUMBAI (Reuters) - State-run lender Union Bank of India expects gross non-performing assets in the fiscal year ending March 2014 at under 3 percent of total assets, its chairman said on Thursday.

The bank's debt restructuring pipeline, which includes state power distribution companies, for the July-September quarter will be at 50 billion rupees, D. Sarkar told reporters.

Earlier on Thursday Union Bank reported a 9.37 percent rise in net profit for the April-June quarter.

(Reporting by Swati Pandey; Editing by Anand Basu)