Union Bank of India, is an Indian government owned bank. It ha its headquarter in Mumbai, Maharashtra, India. It was founded in 1919 by Seth Sitaram Poddar. As on FY 2022, it has 8,873 Branches and 11,232 ATMs. It mainly deals with Consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, wealth management. The shares are traded on both BSE and NSE.
Key Financial Highlights
| In Rs Crores | Q4 FY 22 | Q4 FY 21 |
| Interest Income | 17,174 | 15,475 |
| Net Interest Income | 6,769 | 5,403 |
| Operating Profit | 5,520 | 4,959 |
| Profit After Tax | 1,440 | 1,330 |
Standalone Highlights
Net Profit of the Bank grew by 80.05% year over year.
The CASA deposits is up by 12.40% year over year.
The Advances grew by 7.00% (QoQ) and 9.60% (YoY),
Management Updates
The dividend declared of Rs.1.90 per equity share.
Gross NPA declined by 263 bps on YoY basis to 11.11%.
Net NPA declined by 94 bps on YoY basis to 3.68%.
CET1 ratio improved to 10.63%.
Union Bank along with NPCI to launch credit card for MSME borrowers.