Union Bank Ltd Q1FY19 revenue has increased 3.6% yoy to Rs9,908.8cr. Its NII for the quarter came at Rs2,626.1cr, an increase of 17.1% yoy. The bank has reported a net profit of Rs129cr, up 10.7% yoy, against Rs116cr last year. The net profit was in-line with estimates due to higher NII. Its GNPA for Q1FY19 stood at 16% against 15.7% qoq, an increase of 30bps. NNPA for the quarter came at 8.7% against 8.42% qoq, an increase of 28bps.
The total advances of the bank for the quarter stood at Rs3.18 lakh cr, up 7.9% yoy.
Its RAM share of total advances stood at 53.3% as of Q1FY19.
Deposits for the quarter were up 8% yoy to Rs4.05 lakh cr. Its CASA portfolio is up 6.9% yoy to Rs1.38 lakh cr, while CASA ratio came at 33.3% for Q1FY19.
Its LD ratio came at 83.2% for the quarter as against 83.8% qoq.
For the quarter, it has reported 5.53% and 4.9% domestic cost of deposits and cost of funds, respectively. The domestic and Global NIM for the quarter stood at 2.34% and 2.26%, respectively.
Union Bank of India ended at Rs85.45, down 3.65 points, or 4.1%, from its previous close of Rs89.10 on the BSE.
The scrip opened at Rs90 and touched a high and low of Rs90 and Rs84.55, respectively. A total of 1,07,33,377 (NSE+BSE) shares were traded on the counter. The stock traded below its 200 DMA.
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