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  • Union Bank Of India Announces Financial Results For The Quarter/Nine Months Ended

    Published on January 27, 2015

    union bankGlobal Business grew by 9.4% from Rs. 512870 crore as on December 31, 2013 to Rs. 561011 crore as on December 31, 2014.

    Domestic Deposits increased by 9.4% from Rs. 280837 crore as on December 31, 2013 to Rs. 307289 crore as on December 31, 2014. Global Deposits increased from Rs. 285125 crore as on December 31, 2013 to Rs. 312912 crore as on December 31, 2014, showing a growth of 9.8%.

    CASA deposits grew by 9.5% to Rs. 89910 crore as on December 31, 2014 from      Rs. 82112 crore in the previous year. CASA share in total deposits stands at 28.7%.  Domestic CASA ratio stood at 29.2%.

    Domestic Advances increased by 8.0% from Rs. 210495 crore as on December 31, 2013 to Rs. 227339 crore as on December 31, 2014. Global Advances increased from Rs. 227745 crore as on December 31, 2013 to Rs. 248099 crore as on December 31, 2014 recording a growth rate of 8.9%.

    Advances to productive sectors of economy, i.e. retail, agriculture, and micro, small, & medium enterprises (MSMEs), which we together call as RAM sectors, grew by 26.6%, from Rs. 89011 crore as on December 31, 2013 to  Rs. 112702 crore as on December 31, 2014.

    International Business grew by 22.5% from Rs. 21538 crore as on December 31, 2013 to Rs. 26383 crore as on December 31, 2014.

    Financial Performance for the quarter ended December 2014

    Domestic Net Interest Margin (NIM) stood at 2.57% for October-December 2014 as against 2.60% for July-September 2014. It was 2.64% a year ago. Global NIM for October-December 2014 was 2.50% as against 2.53% for July-September 2014 quarter. It was 2.50% a year ago.

    Net Interest Income for October-December 2014 up by 8.0% to Rs. 2120 crore from Rs. 1963 crore in October-December 2013.

    Non Interest Income for October-December 2014 stood at Rs. 877 crore, up 29.0% over a year ago.

    Net Profit for October-December 2014 stood at Rs. 302 crore, lower by 13.2% from Rs. 348 crore in October-December 2013.

    Return on average assets (annualised) stood at 0.34% for October-December 2014 as against 0.42% for July-September 2014 and October-December 2013.

    Yield on funds stood at 8.93% for October-December 2014 as against 9.09% for July-September 2014 and 9.04% for October-December 2013.

    Yield on investments stood 7.51% for October-December 2014 as against 7.48% for July-September 2014 and 7.61% for October-December 2013.

    Return on equity (annualised) stood at 6.60% in October-December 2014 as gainst 8.25% in July-September 2014 and 8.38 % in October-December 2013.

    Earnings per share (annualised) stood at Rs. 19.03 in October-December 2014 as against Rs. 23.52 in July-September 2014 and Rs. 23.18 in October-December 2013.

    Financial Performance for the nine-months ended December 2014

    Domestic Net Interest Margin (NIM) stood at 2.62% in April-December 2014 compared to 2.63% in April-December 2013. Global NIM for April-December 2014 was 2.54% as against 2.55% for April-December 2013.

    Net Interest Income for April-December 2014 up by 8.5% to Rs. 6322 crore from Rs. 5827 crore in April-December 2013.

    Non Interest Income for April-December 2014 stood at Rs. 2380 crore, up by 16.3%.

    Net Profit for April-December 2014 stood at Rs. 1338 crore, up 19.8% from Rs. 1117 crore in April-December 2013.

    Return on average assets (annualised) stood at 0.51% for April-December 2014 as against 0.46% for April-December 2013.

    Yield on funds stood at 9.04% for April-December 2014 as against 8.93% for April-December 2013.

    Yield on investments stood 7.52% for April-December 2014 as against 7.50% for   April-December 2013.

    Return on equity (annualised) stood at 9.74% in April-December 2014 as against 8.94% in Aprl-December 2013.

    Earnings per share (annualised) stood at Rs. 28.20 in April-December 2014 as against Rs. 24.89 in April-December 2013.

    Asset Quality

    Gross NPAs stood at 5.08% as on December 31, 2014 as against 4.69% as on September 30, 2014 and 3.85% as on December 31, 2013.

    Net NPA ratio is at 2.95% as on December 31, 2014 as against 2.71% as on September 30, 2014 and 2.26% as on December 31, 2013.

    Provision Coverage at 57.25% as on December 31, 2014 as against 57.97% as on September 30, 2014 and 59.97% in the previous year.

    Capital Adequacy

    Capital Adequacy ratio of the Bank under Basel III is 10.30% as on December 31, 2014.

    The Tier I CRAR is 7.32% within which Common Equity Tier 1 is 7.02% compared to regulatory minimum of 5.50%.

    source : Sachin Murdeshwar

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