{"id":135150,"date":"2022-10-26T10:06:13","date_gmt":"2022-10-26T14:06:13","guid":{"rendered":"https:\/\/44.250.171.167\/?p=135150"},"modified":"2022-10-26T10:06:15","modified_gmt":"2022-10-26T14:06:15","slug":"union-bank-of-india-ltd-q2-fy23-earnings-conference-call-insights","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/union-bank-of-india-ltd-q2-fy23-earnings-conference-call-insights\/","title":{"rendered":"Union Bank of India Ltd Q2 FY23 Earnings Conference Call Insights"},"content":{"rendered":"<p><iframe loading=\"lazy\" title=\"UNIONBANK Stock | Union Bank of India Q2 FY23 Earnings Concall\" width=\"500\" height=\"375\" src=\"https:\/\/www.youtube.com\/embed\/SkSuLHWUnyA?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p><strong>Key highlights from Union Bank of India Ltd (<a href=\"https:\/\/44.250.171.167\/symbol\/UNIONBANK\/\">UNIONBANK<\/a>) Q2 FY23 Earnings Concall<\/strong><\/p>\n<p><strong>Q&amp;A Highlights:<\/strong><\/p>\n<ul>\n<li>[00:10:09] Ashok Ajmera from Ajcon Global asked that in 2Q23 how much provision is done for fraud accounts. P. K. Samal CFO replied that when an account is fraud, automatically 100% provision is made by default. However, per UNIONBANK policy the option is there to carry forward the provision to four quarters.<\/li>\n<\/ul>\n<ul>\n<li>[00:11:47] Ashok Ajmera with Ajcon Global enquired about the recovery target of INR10,000 crore. A. Manimekhalai MD answered that the guidance is INR15,000 crores for recovery and as on date the bank has done INR8,900 crores.<\/li>\n<\/ul>\n<ul>\n<li>[00:13:31] Ashok Ajmera of Ajcon Global enquired about the credit side growth, the sanctioned amount is much higher than the amount disbursed on the corporate books. A. Manimekhalai MD replied that as on date the bank has got unavailed limit of about INR21,000 crores. So sanctions to disbursal is almost like 60% to 70%. And 10-12% growth target is achievable going forward.<\/li>\n<\/ul>\n<ul>\n<li>[00:15:45] Jai Mundhra from \u00a0B&amp;K Securities asked about the intent behind RBI\u2019s circular of making bank name mandatory in the rating document to get rating benefits. Nitesh Ranjan ED said that it is for large exposure accounts. If there\u2019s a INR7,000 crore rating it could be for a consortium account. To obviate this RBIT is asking to mention the name of the bank for which the rating is ascribed for the amount.<\/li>\n<\/ul>\n<ul>\n<li>[00:18:56] Jai Mundhra from \u00a0B&amp;K Securities enquired about the reason for interest income going up from INR12,000 crore to INR13,800 and if there\u2019s any one-off. A. Manimekhalai MD answered that about INR700 crores has come from NPA recovery of INR13,800 and rest is all business as usual.<\/li>\n<\/ul>\n<ul>\n<li>[00:20:06] Jai Mundhra from B&amp;K Securities also asked about advances growth going forward. Nitesh Ranjan ED replied that the 20% growth of advance seen is YonY. Since the growth started post March, so the guidance is kept at 10-12% as March \u201922 advance was elevated.<\/li>\n<\/ul>\n<ul>\n<li>[00:22:01] Nitin Aggarwal from Motilal Oswal asked that since the bank has a 10% 1H growth already, how is the bank looking at key metrics like margins, asset quality and advances growth. Nitesh Ranjan ED clarified that the bank is keeping the guidance at the same number, as there are lot of geopolitical and other issues in the market.<\/li>\n<\/ul>\n<ul>\n<li>[00:23:36] Anand Laddha of HDFC Mutual asked about NIM outlook for 3Q23. A. Manimekhalai MD said that NIM is almost 3.15% for 2Q23 and the bank has kept the guidance to 3%. The RBI\u2019s 190 bp repo is factored into the repo linked rate. Also the MCLR of 65 has also been passed on. Going forward, UNIONBANK said it will see some increase in interest on advances.<\/li>\n<\/ul>\n<ul>\n<li>[00:26:06] Anand Laddha of HDFC Mutual enquired about the outlook for FY23 slippages. A. Manimekhalai MD replied that the slippages will be to the extent of 3%. Also, the stress is seen only in MSME book and retail.<\/li>\n<\/ul>\n<ul>\n<li>[00:27:18] Anand Laddha of HDFC Mutual asked about the recovery upgardes expected for FY23. A. Manimekhalai MD answered that the bank is looking at INR15,000 crores of upgradation and recovery for the whole year and slippages of INR13,000 and expects to achieve this in FY23.<\/li>\n<\/ul>\n<ul>\n<li>[00:28:36] \u00a0Anand Laddha of HDFC Mutual asked about the sector from where loan growth has come for the bank. \u00a0A. Manimekhalai MD said that the growth has come in the corporate sector with regard to infrastructure, funding has happened on NBFCs, and seen some growth on chemical, steel, pharma, cements and Textiles.<\/li>\n<\/ul>\n<ul>\n<li>[00:34:38] Suraj Das from B&amp;K Securities asked about the total outstanding accumulated losses in the DTA book. P. K. Samal CFO said that the bank does not create any DTA on losses.<\/li>\n<\/ul>\n<ul>\n<li>[00:36:34] Suraj Das from B&amp;K Securities enquired about the NPA on the ECLGS book. A. Manimekhalai MD replied that on the ECLGS book 3.5% is the NPA and same amount under stress.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Key highlights from Union Bank of India Ltd (UNIONBANK) Q2 FY23 Earnings Concall Q&amp;A Highlights: [00:10:09] Ashok Ajmera from Ajcon Global asked that in 2Q23 how much provision is done for fraud accounts. P. K. Samal CFO replied that when an account is fraud, automatically 100% provision is made by default. However, per UNIONBANK policy [&hellip;]<\/p>\n","protected":false},"author":1767,"featured_media":125416,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"Union Bank of India Ltd Q2 FY23 Earnings Conference Call Insights #UNIONBANK #Q2 #FY23 #Earnings #Stocks","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[9825,392,1],"tags":[151,10169,1792],"class_list":["post-135150","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-call-highlights","category-earnings","category-finance-stocks","tag-banking","tag-earnings","tag-financial-services"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":140241,"url":"https:\/\/alphastreet.com\/india\/state-bank-of-india-q3-fy23-earnings-conference-call-insights\/","url_meta":{"origin":135150,"position":0},"title":"State Bank of India Q3 FY23 Earnings Conference Call Insights","author":"Praveen","date":"February 6, 2023","format":false,"excerpt":"Key highlights from State Bank of India (SBIN) Q3 FY23 Earnings Concall Q&A Highlights: [00:11:08] Mahrukh Adajania from Nuvama enquired about write-offs being marginally higher in 3Q23. Dinesh Khara Chairman replied that write-offs is in the normal course of the business of about INR10,000 crores. Generally write-offs were taken towards\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":136317,"url":"https:\/\/alphastreet.com\/india\/union-bank-of-india-ltd-unionbank-q2-fy23-earnings-concall-transcript\/","url_meta":{"origin":135150,"position":1},"title":"Union Bank of India Ltd (UNIONBANK) Q2 FY23 Earnings Concall Transcript","author":"IRS_INDIA","date":"October 20, 2022","format":false,"excerpt":"Union Bank of India Ltd (NSE: UNIONBANK) Q2 FY23 Earnings Concall dated Oct. 20, 2022 Corporate Participants: Ranjita Suresh\u00a0--\u00a0Assistant General Manager, Investor Relations A. Manimekhalai\u00a0--\u00a0Managing Director and Chief Executive Officer P. K. Samal\u00a0--\u00a0Chief Financial Officer Unidentified Speaker\u00a0-- Nidhu Saxena\u00a0--\u00a0Executive Director Meda Venkata Balasubramanyam\u00a0--\u00a0Head-Treasury & IBD Arun Kumar Singh\u00a0--\u00a0RBI Nominee Director\u2026","rel":"","context":"In &quot;Earnings Call Transcripts&quot;","block_context":{"text":"Earnings Call Transcripts","link":"https:\/\/alphastreet.com\/india\/category\/transcripts\/"},"img":{"alt_text":"stock earnings conference call transcript","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/EarningsTranscript.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/EarningsTranscript.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/EarningsTranscript.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":129571,"url":"https:\/\/alphastreet.com\/india\/union-bank-of-india-ltd-unionbank-q4-fy22-earnings-concall-transcript\/","url_meta":{"origin":135150,"position":2},"title":"Union Bank of India Ltd. (UNIONBANK) Q4 FY22 Earnings Concall Transcript","author":"Staff Correspondent","date":"May 17, 2022","format":false,"excerpt":"Union Bank of India Ltd. (NSE: UNIONBANK) Q4 FY22 Earnings Concall dated May. 13, 2022 Corporate Participants: Ranjita Suresh\u00a0--\u00a0Assistant General Manager, Investor Relations Shri Rajkiran Rai G\u00a0--\u00a0Managing Director and Chief Executive Officer Ashok Chandra\u00a0--\u00a0Chief General Manager Analysts: Suraj Das\u00a0--\u00a0B&K Securities -- Analyst Unidentified Speaker\u00a0-- Nilesh Shah\u00a0--\u00a0Arrow Investments -- Analyst Dixit\u2026","rel":"","context":"In &quot;Earnings Call Transcripts&quot;","block_context":{"text":"Earnings Call Transcripts","link":"https:\/\/alphastreet.com\/india\/category\/transcripts\/"},"img":{"alt_text":"stock earnings conference call transcript","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/EarningsTranscript.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/EarningsTranscript.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/EarningsTranscript.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":145409,"url":"https:\/\/alphastreet.com\/india\/union-bank-of-india-ltd-unionbank-q4-fy23-earnings-concall-transcript\/","url_meta":{"origin":135150,"position":3},"title":"Union Bank of India Ltd (UNIONBANK) Q4 FY23 Earnings Concall Transcript","author":"IRS_INDIA","date":"May 8, 2023","format":false,"excerpt":"Union Bank of India Ltd (NSE:UNIONBANK) Q4 FY23 Earnings Concall dated May. 06, 2023. Corporate Participants: Sunil Jadli\u00a0--\u00a0Head of Investor Relations A. Manimekhalai\u00a0--\u00a0Managing Director and Chief Executive Officer Nitesh Ranjan\u00a0--\u00a0Executive Director Prafulla Kumar Samal\u00a0--\u00a0Chief Financial Officer Analysts: Jai Mundhra\u00a0--\u00a0ICICI Securities -- Analyst Ashok Ajmera\u00a0--\u00a0Ajcon Global -- Analyst Rakesh Kumar\u00a0--\u00a0B&K Securities\u2026","rel":"","context":"In &quot;Earnings Call Transcripts&quot;","block_context":{"text":"Earnings Call Transcripts","link":"https:\/\/alphastreet.com\/india\/category\/transcripts\/"},"img":{"alt_text":"Earnings Conference Call Transcript","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":166837,"url":"https:\/\/alphastreet.com\/india\/pnb-q3-2024-2025-call-highlights-stable-deposits-lower-credit-costs-and-digital-milestones\/","url_meta":{"origin":135150,"position":4},"title":"PNB Q3 2024-2025 Call Highlights: Stable Deposits, Lower Credit Costs and Digital Milestones!","author":"Praveen","date":"February 12, 2025","format":false,"excerpt":"Punjab National Bank, the second largest public sector bank in India in terms of business volumes, in its Q3 earnings call outlined the bank's stable growth path, targeting 13-14% credit growth with strong asset quality (97% provision coverage ratio). The bank saw lower other income in Q3 due to reduced\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/07\/CC_Image_8.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/07\/CC_Image_8.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/07\/CC_Image_8.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/07\/CC_Image_8.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":122662,"url":"https:\/\/alphastreet.com\/india\/punjab-national-bank-pnb-q4-fy21-earnings-concall-transcript\/","url_meta":{"origin":135150,"position":5},"title":"Punjab National Bank (PNB) Q4 FY21 Earnings Concall Transcript","author":"Sahil Anand","date":"June 7, 2021","format":false,"excerpt":"Punjab National Bank (NSE:PNB) Q4 FY21 earnings Concall dated Jun. 07, 2021 Corporate Participants: CH. S. S. Mallikarjuna Rao -- Managing Director and Chief Executive Officer Analysts: Bhavik Shah -- Batlivala & Karani Securities -- Analyst Sandeep Agarwal -- Naredi Investments -- Analyst Mahrukh Adajania -- Elara Securities -- Analyst\u2026","rel":"","context":"In &quot;Earnings Call Transcripts&quot;","block_context":{"text":"Earnings Call Transcripts","link":"https:\/\/alphastreet.com\/india\/category\/transcripts\/"},"img":{"alt_text":"stock earnings conference call transcript","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/EarningsTranscript.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/EarningsTranscript.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/EarningsTranscript.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/135150","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/1767"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=135150"}],"version-history":[{"count":0,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/135150\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/125416"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=135150"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=135150"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=135150"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}