Union Bank of india Financial Results for the Quarter ended June 30, 2021

Key Highlights in Q1FY22

1. 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.

2. 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.
3. 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%.
4. 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.
5. 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.
6. 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.