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Union Bank of India Registers 18.5% Growth in Q1 Net Profit at Rs 6.64 bln in FY'15

Aug 2 -- State-run lender Union Bank of India has reported 18.5% increase in its net profit at Rs 6.64 billion in the first three months of the present fiscal as compared to Rs 5.6 billion in the year ago period.

Total income increased to Rs 85.47 billion at the end of the April-June quarter in the 2015 fiscal as compared to Rs 76.13 billion, a year ago.

Net interest income grew by 10.8% at Rs 21.17 billion as on June 30, 2014 as compared to Rs 19.1 billion as on June 30, 2013.

The gross non-performance assets (NPA) ratio of the bank was recorded at 4.27% at the end of the first three months of the 2015 fiscal as compared to 3.5% in the year ago period.

Net NPA stood at 2.48% at the end of the June quarter in the current financial year.

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