7 Feb 2022 , 07:05 PM
Union Bank saw marginal growth in revenues from wholesale banking vertical. However, revenues from retail banking were marginally lower while treasury revenues fell sharply in Q3. The net interest income (NII) was up 8.88% at Rs7,174cr in the quarter while the non-interest income was down -15% yoy at Rs2,524cr.
Domestic advances were up 2.91% led by agriculture lending, MSME lending and retail lending in the quarter. Deposits grew by 6.24% yoy while CASA deposits grew by 11.06% on yoy basis. CASA ratio improved by 161 bps yoy to 36.99% as share of total deposits.
The provision coverage ratio (PCR) tapered yoy to 82.8% while the credit cost was also lower by 46 bps yoy at 1.40% in the Dec-21 quarter.
Operating margin or OPM was almost flat at a level of 25.16% in Dec-21 quarter. OPM was however, sharply lower sequentially compared to 27.98% in the sequential quarter.
Gross NPAs tapered lower from 13.49% to 11.62% in the quarter but remains high by absolute standards. Net NPA ratio was higher by 82 bps at 4.09% on lower provisioning. Capital adequacy at 13.85% remains a concern.
PAT margins improved sharply from 3.43% to 5.32% on a yoy basis. Net margins were lower on a sequential basis by 167 basis points.
Financial highlights for Dec-21 compared yoy and sequentially
Union Bank of India | |||||
Rs in Crore | Dec-21 | Dec-20 | YOY | Sep-21 | QOQ |
Total Income | ₹ 20,233 | ₹ 20,963 | -3.48% | ₹ 21,622 | -6.42% |
Operating Profit | ₹ 5,091 | ₹ 5,287 | -3.70% | ₹ 6,049 | -15.83% |
Net Profit | ₹ 1,077 | ₹ 719 | 49.76% | ₹ 1,511 | -28.68% |
Diluted EPS | ₹ 1.55 | ₹ 1.12 | ₹ 2.25 | ||
Operating Margins | 25.16% | 25.22% | 27.98% | ||
Net Margins | 5.32% | 3.43% | 6.99% | ||
Gross NPA Ratio | 11.62% | 13.49% | 12.64% | ||
Net NPA Ratio | 4.09% | 3.27% | 4.61% | ||
Return on Assets (Ann) | 0.39% | 0.28% | 0.56% | ||
Capital Adequacy | 13.85% | 12.94% | 13.57% |
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.