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Union Bank of india Financial Results for the Quarter ended June 30, 2021
Key Highlights in Q1FY22
- Strong Financial Performance:
Operating Profit and Net Profit of the Bank improved by 31.45% and 254.93% respectively on YoY basis during Q1FY22. Net interest income of Bank grew by 9.53% on YoY basis during Q1FY22.
- Bank continues to demonstrate a strong liability franchise
The CASA deposits have increased by 11.23% YoY. We now have a total deposits base at Rs.9,08,528 Crores as at the end of Q1FY22. CASA ratio improved to 36.39% from 33.30% on YoY basis. - Credit in Retail, Agri and MSME (RAM) segments grown by 8.92% on YoY basis
Bank registered 10.61% growth in Retail, 12.70% growth in Agriculture and 3.33% growth in MSME advances on YoY basis. RAM advances as % of Domestic Advances improved by 451 bps on YoY basis to 56.08%. - Reduction in NPA:-
Gross NPA (%) reduced by 135 bps on YoY basis to 13.60% and Net NPA(%) reduced by 28 bps on YoY basis to 4.69% as on 30.06.2021. Credit Cost reduced by 135 bps QoQ for Q1FY22. - Cost to Income ratio of the Bank improved by 320 bps on YoY basis
Cost to Income ratio of the Bank improved by 320 bps on YoY basis from 48.71% during Q1FY21 to 46.51% during Q1FY22. - Improved capital ratios
CRAR improved from 11.62% as on 30.06.2020 to 13.32% as on 30.06.2021. CET1 ratio improved to 9.77% as on 30.06.2021 from 8.40% as on 30.06.2020.