20/7/2024, 5:11:02 pm

Union Bank Q1 results: Net profit rises 13.66% to ₹3,678.85 crore

Union Bank of India reported a 13.66% rise in net profit to ₹3,678.85 crore in Q1 FY2025, driven by a 6.47% increase in net interest income to ₹9,412 crore. The bank's interest income rose 12.29% to ₹26,364 crore, while net interest margin (NIM) fell 0.08 basis points to 3.05%. Despite a softer Q1, the bank expects 11-13% credit growth and 8-10% deposit growth, with an excess SLR of ₹65,000 crore.