Internet curiosity revenue slipped 1.1% YoY to Rs 9,406 crore in comparison with Rs 9,514 crore a 12 months in the past. Provisions noticed a pointy spike in the course of the quarter, growing to Rs 1,055 crore from Rs 322 crore within the December quarter, marking a virtually three-fold rise, in response to the corporate’s regulatory submitting.
Asset high quality confirmed enchancment in the course of the quarter. Gross NPA declined to 2.82% from 3.06% QoQ and three.60% in the identical quarter final 12 months, whereas internet NPA eased to 0.48% from 0.51% sequentially and 0.63% in Q4FY25, the lender stated.
Union Financial institution of India had earlier shared its enterprise replace for the quarter. International advances rose almost 10% year-on-year to Rs 10.78 lakh crore, whereas world deposits elevated 2.7% to Rs 13.06 lakh crore.
Alongside outcomes, the financial institution’s board advisable a dividend of Rs 5 per fairness share of face worth Rs 10 for the monetary 12 months 2025-26. The payout is topic to vital statutory approvals and shareholders’ approval on the upcoming twenty fourth Annual Basic Assembly. Particulars concerning the AGM date, together with the guide closure interval for the AGM and the dividend, will probably be introduced sooner or later.
Additionally learn: From AI to subsidies: Bernstein’s candid open letter to PM Modi flags 8 essential fault strains
Following the event, Union Financial institution of India shares crashed as a lot as 7.2% to their day’s low of Rs 180 on the BSE. The inventory is up 28% within the final six months and about 20% because the starting of the 12 months. At about 1:10 pm, shares of the lender pared marginal losses to commerce 5.5% decrease on the exchanges.(Disclaimer: Suggestions, strategies, views and opinions given by the consultants are their very own. These don’t signify the views of The Financial Occasions)
