Union Bank of India shares react to Q4 results; slippages rise but write-offs decline
Published on 09/05/2025 07:23 AM
Union Bank of India shares react to Q4 results; slippages rise but write-offs declineUnion Bank's asset quality saw improvement from the previous quarter, with Gross NPA at 3.6% from 3.85% in the December quarter, while net NPA stood at 0.82% from 0.63% compared to the December quarter.By Jomy Jos Pullokaran May 9, 2025, 7:23:31 AM IST (Updated)2 Min ReadState-owned Union Bank of India Ltd. will be reacting to its quarterly results on Friday, May 9. The results were reported after market hours on Thursday.
The lender's net profit went up by 51% from the same quarter last year to ₹4,984.9 crore. The profitability was also aided by a higher other income component, which stood at ₹5,509 crore, compared to ₹4,707 crore during the same quarter last year.
Net interest income (NII), which is the difference between the interest income a bank earns from its lending activities and the interest it pays to depositors, was up 0.8%, coming at ₹9,514 crore against ₹9,436.5 crore in the corresponding quarter of FY24.
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Union Bank's asset quality saw improvement from the previous quarter, with Gross NPA at 3.6% from 3.85% in the December quarter, while net NPA stood at 0.82% from 0.63% compared to the December quarter.
Provisions for non-performing assets saw a marginal increase from the December quarter to ₹1,675 crore from ₹1,477 crore.
Slippages for the quarter also saw an increase from the quarter to ₹2,483 crore from ₹1,820 crore in the December quarter. However, write-offs saw a decline during the quarter to ₹1,230 crore, compared to an amount of ₹4,059 crore that was written off during the December quarter.
The board has recommended a dividend of ₹4.75 per equity share of ₹10 each for the financial year 2024-25. The payment of dividends is subject to obtaining the necessary statutory approvals and the approval of the shareholders of the bank at the ensuing 23rd Annual General Meeting (AGM).
The results came after the close of the market hours. Shares of Union Bank of India Ltd ended at ₹115.45, down by ₹3.05, or 2.57% on the BSE.
Also Read: Union Bank admits ordering 2 lakh copies of KV Subramanian’s book, flags procurement 'lapses'Continue ReadingFirst Published: May 8, 2025 10:01 PM ISTCheck out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!TagsearningsResults Boardroomshare market todayUnion Bank of India