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NEW DELHI :
Shares of Union Bank of India on Monday rose nearly 6% after the corporate reported a standalone internet revenue of ₹333 crore within the quarter ended June. The inventory gained 5.74% to ₹32.20 on the BSE.
On the NSE, it jumped 5.74% to ₹32.20.
The state-run financial institution, which amalgamated Andhra Bank and Corporation Bank from April 1, on Friday reported a standalone internet revenue of ₹333 crore within the quarter ended June.
The amalgamated entity had booked a profit-after-tax of ₹381 crore in the identical interval of the earlier fiscal. The pre-amalgamated revenue within the June 2019 quarter was ₹224.43 crore.
“Overall the performance of the amalgamated entity was quite satisfactory. Amalgamation is proceeding as per the fixed timelines,” the financial institution’s managing director and CEO Rajkiran Rai G mentioned. He mentioned the financial institution noticed a considerable enchancment in its internet curiosity revenue and in addition on the working revenue facet.
Net curiosity revenue rose by 17.1% to ₹6,403 crore as in comparison with ₹5,468 crore.
Gross non-performing ratio improved to 14.95% in comparison with 15.59%. Net NPA ratio improved to 4.97% from 6.47%.
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