{"id":138864,"date":"2023-01-20T05:29:48","date_gmt":"2023-01-20T10:29:48","guid":{"rendered":"https:\/\/44.250.171.167\/?p=138864"},"modified":"2023-01-20T05:29:50","modified_gmt":"2023-01-20T10:29:50","slug":"union-bank-q3fy23-results-out-net-profit-soared-by-107","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/union-bank-q3fy23-results-out-net-profit-soared-by-107\/","title":{"rendered":"Union Bank Q3FY23 results out; Net profit soared by 107%"},"content":{"rendered":"\n<p>Union Bank of India reported more than double year-on-year growth in its net profit for the quarter that ended December 31, 2022, to INR 2,234 crore. The bank reported more than double net profit alongside healthy asset quality figures.<\/p>\n\n\n\n<p>The lender recorded a net profit of INR 2,234 crore, doubling from last year\u2019s figures of INR 1085 crore. The bank\u2019s operating profit jumped to INR 6,619 crore from last year\u2019s INR 5,098 crore. Union Bank\u2019s gross non-performing asset (GNPA) ratio stood at 7.93 percent, down from 11.62 percent last year. The lender\u2019s net NPA ratio stood at 2.14 percent down from 4.09 percent.<\/p>\n\n\n\n<p>The bank\u2019s corporate banking division, which incurred a loss of INR 144 crore for December 2021, posted a massive profit of INR 1,102 crore. Retail banking, which constitutes the bank\u2019s major operations, reported a profit of INR 1,742 crore, from last year\u2019s INR 1082 crore.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"766\" height=\"1024\" src=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/760760a8-6b97-4fb1-b756-c7c3831203d8-766x1024.png\" alt=\"\" class=\"wp-image-138865\" srcset=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/760760a8-6b97-4fb1-b756-c7c3831203d8-766x1024.png 766w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/760760a8-6b97-4fb1-b756-c7c3831203d8-224x300.png 224w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/760760a8-6b97-4fb1-b756-c7c3831203d8-768x1027.png 768w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/760760a8-6b97-4fb1-b756-c7c3831203d8-1149x1536.png 1149w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/760760a8-6b97-4fb1-b756-c7c3831203d8-1532x2048.png 1532w\" sizes=\"auto, (max-width: 766px) 100vw, 766px\" \/><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Union Bank of India reported more than double year-on-year growth in its net profit for the quarter that ended December 31, 2022, to INR 2,234 crore. The bank reported more than double net profit alongside healthy asset quality figures. The lender recorded a net profit of INR 2,234 crore, doubling from last year\u2019s figures of [&hellip;]<\/p>\n","protected":false},"author":1863,"featured_media":49407,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","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":[105,392,1],"tags":[10389,8200,10560],"class_list":["post-138864","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-infographics","category-earnings","category-finance-stocks","tag-corporate-loan","tag-retail-banking","tag-treasury"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/Trending-stocks.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":138869,"url":"https:\/\/alphastreet.com\/india\/union-banks-net-profit-grows-more-than-double-to-inr-2245-crores-while-gross-npa-drops-rapidly\/","url_meta":{"origin":138864,"position":0},"title":"Union Bank&#8217;s net profit grows more than double to INR 2,245 Crores while gross NPA drops rapidly","author":"Chirag Gupta","date":"January 20, 2023","format":false,"excerpt":"Government-owned Union Bank of India recorded strong Q3 earnings with profitability more than doubling year-on-year. The bank garnered a robust growth of 106.81% in net profit to \u20b92,245 crore in Q3FY23 compared to a profit of \u20b91,085 crore. The PAT climbed by 21.48% from \u20b91,848 crore in June 2022 quarter.\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"trending stocks high volatility","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/Trending-stocks.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/Trending-stocks.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/Trending-stocks.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":141344,"url":"https:\/\/alphastreet.com\/india\/yes-banks-profit-drops-in-third-quarter-to-inr-52-crores\/","url_meta":{"origin":138864,"position":1},"title":"Yes bank&#8217;s profit drops in third quarter to INR 52 crores","author":"Chirag Gupta","date":"February 13, 2023","format":false,"excerpt":"Private sector lender YES Bank today reported 80.66% on-year drop in its standalone December quarter net profit at INR 51.52 crore due to ageing related provisions. Its net interest income improved 11.7% YoY at INR 1,971 crore in Q3. Its net interest margin (NIM) in Q3 stood at 2.5% up\u2026","rel":"","context":"In &quot;Analysis&quot;","block_context":{"text":"Analysis","link":"https:\/\/alphastreet.com\/india\/category\/stock-analysis\/"},"img":{"alt_text":"earnings preview","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":135067,"url":"https:\/\/alphastreet.com\/india\/rbl-banks-reports-a-whopping-7-times-profit-growth-in-q2fy23\/","url_meta":{"origin":138864,"position":2},"title":"RBL Banks reports a whopping 7 times profit growth in Q2FY23","author":"Chirag Gupta","date":"October 24, 2022","format":false,"excerpt":"RBL Bank, a Midcap private sector lender reported a standalone profit of INR 201.55 crore for the September quarter of FY23, growing 6.5 times from the year-ago period on a low base. The profit in Q2FY22 was hit by higher provisions for bad loans, while the growth was almost flat\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"trending stocks high volatility","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/Trending-stocks.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/Trending-stocks.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/Trending-stocks.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":179590,"url":"https:\/\/alphastreet.com\/india\/tamilnad-mercantile-bank-reports-q3-net-profit-of-303-18-crore-rupees\/","url_meta":{"origin":138864,"position":3},"title":"Tamilnad Mercantile Bank reports Q3 net profit of 303.18 crore rupees","author":"Staff Correspondent","date":"February 4, 2026","format":false,"excerpt":"Tamilnad Mercantile Bank (TMB) shares were trading at 425.50 INR on the National Stock Exchange at 12:45 PM IST on Thursday, representing a 0.85% decrease from the previous close. The bank, listed on both the BSE and NSE, recorded a total trading volume of 185,000 shares during the mid-day session.\u2026","rel":"","context":"In &quot;Finance&quot;","block_context":{"text":"Finance","link":"https:\/\/alphastreet.com\/india\/category\/finance-stocks\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":139456,"url":"https:\/\/alphastreet.com\/india\/yes-bank-reported-80-drop-in-its-q3fy23-net-profit\/","url_meta":{"origin":138864,"position":4},"title":"Yes Bank reported 80% drop in its Q3FY23 net profit","author":"Chirag Gupta","date":"January 30, 2023","format":false,"excerpt":"Private sector lender YES Bank today reported 80.66% on-year drop in its standalone December quarter net profit at INR 51.52 crore due to ageing related provisions. Its net interest income improved 11.7% YoY at INR 1,971 crore in Q3. Its net interest margin (NIM) in Q3 stood at 2.5% up\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/91817c39-554c-43f1-b7bb-110cb3ae82d4-1.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/91817c39-554c-43f1-b7bb-110cb3ae82d4-1.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/91817c39-554c-43f1-b7bb-110cb3ae82d4-1.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/91817c39-554c-43f1-b7bb-110cb3ae82d4-1.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/91817c39-554c-43f1-b7bb-110cb3ae82d4-1.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/91817c39-554c-43f1-b7bb-110cb3ae82d4-1.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":141250,"url":"https:\/\/alphastreet.com\/india\/bandhan-bank-ltd-nse-bandhanbnk-q3-fy23-results-out-total-income-rises-17-yoy\/","url_meta":{"origin":138864,"position":5},"title":"Bandhan Bank Ltd. (NSE: BANDHANBNK): Q3 FY23 Results Out; Total Income rises 17% YoY","author":"Divyansh_Kasana","date":"February 13, 2023","format":false,"excerpt":"Bandhan Bank Ltd. (NSE:BANDHANBNK) is an Indian banking and financial services company based in Kolkata, India. It was established in 2015 as a subsidiary of Bandhan Financial Holdings, with the goal of providing a range of financial services to underserved and underbanked sections of society, particularly low-income households in rural\u2026","rel":"","context":"In &quot;Earnings&quot;","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/138864","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\/1863"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=138864"}],"version-history":[{"count":0,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/138864\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/49407"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=138864"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=138864"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=138864"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}