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Union Bank Q2 net up 57%
October 20, 2003 18:03 IST
The Union Bank of India posted a net profit of Rs 325.75 crore (Rs 3.257 billion) for the half year ended September 2003, registering a rise of 57 per cent over September 2002. This was an increase of Rs 118.48 crore (Rs 1.184 billion).
The operating profit of the bank for the half-year ended September 2003 was Rs 618 crore (Rs 6.18 billion), a growth of 23 per cent over September 2002.
Net NPAs of the bank fell to 4.39 per cent in September 2003 from 5.74 per cent in September 2002, while return on assets rose to 1.22 per cent from 0.88 per cent during the same period.
The bank's capital adequacy ratio grew from 11.44 per cent to 13.34 per cent.
The earning per share (EPS) went up to Rs 14.16 for the half-year ended September 2003 from Rs 9.00 for the half-year ended September 2002.
The bank showed a growth in its business mix by Rs 8,959 crore (Rs 89.59 billion) mark and touched Rs 74,414 crore (Rs 744.14 billion) as on September 30, 2003 as against Rs 65,455 crore (Rs 654.55 billion) as on September 30, 2002.
Deposits touched a level of Rs 46,761 crore (Rs 467.61 billion) as on September 30, 2003 as against deposits of Rs 41,760 crore (Rs 417.60 billion) as on the same date in 2002, registering a rise of 11.97 per cent.