The Board of Directors of Union Bank of India today approved the accounts of the Bank for the Quarter ended June 30, 2022.
Key Highlights in Q1FY23
Strong Financial Performance:
Net Profit of the Bank improved by 32.02% on YoY basis during Q1FY23. Net interest income of Bank grew by 8.11% on YoY basis during Q1FY23.
Bank continues to demonstrate a strong liability franchise
The CASA deposits have increased by 8.69 %YoY. Bank now have a total deposits base at Rs.9,92,774 Crores as at the end of Q1FY23.
Business growth gaining momentum
The Advances have increased by 12.95 % on YoY basis respectively, while Deposits have increased by 9.27 % YoY basis respectively. Bank now have a total Business at Rs.17,21,409 Crores as on June 30, 2022.
Credit in Retail, Agri and MSME (RAM) segments
Bank registered 11.13 % growth in Retail, 14.04 % growth in Agriculture and 11.26 % growth in MSME advances on YoY basis. RAM advances as a per cent of Domestic Advances stood at 54.88 %.
Reduction in NPA: -
Gross NPA (%) reduced by 338 bps on YoY basis to 10.22% and Net NPA(%) reduced by 138 bps on YoY basis to 3.31% as on 30.06.2022.
Improved capital ratios
CRAR improved from 13.32 % as on 30.06.2021 to 14.42% as on 30.06.2022. CET1 ratio improved to 10.68 % as on 30.06.2022 from 9.77% as on 30.06.2021.
No comments:
Post a Comment