Union Bank’s Q3FY24 Quarter Results

Union Bank’s revenue grew 21% YoY
  • 20 Jan 2024
  • Union Bank reported 2.9% quarter-on-quarter (QoQ) increase in its consolidated revenues for the quarter ended December (Q3FY24). On a year-on-year (YoY) basis, it witnessed a growth of 21%.
  • Its expenses for the quarter were up by 3.6% QoQ and 24.9% YoY.
  • The net profit grew 1.5% QoQ and 60.2% YoY.
  • The earnings per share (EPS) of Union Bank stood at Rs 4.9 during Q3FY24.
  • The bank’s capital adequacy ratio (CAR) stood at 15.01% in Dec 2023 quarter.
  • Net non-performing assets (NPAs) were at 1.08% of net advances as of Dec 2023.

Union Bank’s Financial Statements for Q3FY24:

(Rs, crores) Q3FY23 Q2FY24 Q3FY24 QoQ (%) YoY (%)
Total income24,635.428,952.529,802.02.9%21.0%
Total expenses17,988.021,687.522,467.13.6%24.9%
Profit before tax3,576.45,492.35,554.31.1%55.3%
Profit after tax2,263.73,571.83,625.41.5%60.2%
Earnings per share3.35.14.9

Data Source: BSE, Company announcements

The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results

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