The Board of Directors of Union Bank of India, today, approved the accounts of the Bank for the quarter and half year ended September 30, 2015.
- Global Business up 7.4% (y-o-y) to Rs. 584687 crore as on September 30, 2015
- Savings deposit grew at 8.9% while share of high cost deposits declined to 2.2% (Sept 2015) from 10.1% (Sept 2014).
- Advances to productive sectors of economy, i.e. retail, agriculture, and MSMEs, which we together call as ‘RAM’ sectors, grew by 10.2%. RAM sectors now contribute more than 51% of domestic loan book
- Non-interest Income for the quarter (Q2/FY16) up 18.2% compared to a year ago.
- Operating expenses growth during Q2/FY16 contained at 0.6%
- Net Profit for Q2/ FY16 increased to Rs. 658 crore from Rs. 371 crore in Q2/FY15.
- Return on average assets for Q2/FY16 increased to 0.68%, up by 13 bps over 0.55% in Q1/FY16.
- Return on Equity for Q2/FY16 also increased to 12.80% from 11.02% in Q1/FY16.
- Capital Adequacy Ratio (Basel III) stood at 10.26%(excluding quarterly/half yearly profit). Tier I CRAR is 7.67%, within which CET1 is 7.42%.