State-owned Union Bank of India has announced its results for the quarter ended September 2010. It has reported net profit at Rs 303 crore as against Rs 505 crore, de-growth of 40% due to provisions.
The bank has made provisions at Rs 599 crore in Q2FY11 as against Rs 135 crore in Q2FY10, which made on back of prudential norms issued by central bank RBI.
Net interest income jumped 77.90% to Rs 1,536 crore from Rs 863.4 crores
Source: www.moneycontrol.com
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Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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