Union Bank of India Q2 2024 net profit increased 34% to ₹4,720 crore, driven by 9.63% advance growth.
Union Bank of India reported a 34% rise in net profit to ₹4,720 crore for Q2 2024, driven by a 9.63% increase in advances. Total income grew to ₹32,036 crore, despite a slight decline in net interest income to ₹9,047 crore. The bank's asset quality improved, with gross non-performing assets dropping to 4.36%. Meanwhile, City Union Bank saw a modest profit increase to ₹285 crore, with its gross NPA ratio declining to 3.54%.
October 21, 2024
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