Bank of India

Union Bank of India posted for Q3FY16 a fall all around. Its net profit declined from Rs.302 crore to Rs.78 crore, a drop of over 74% (YoY). The NIM fell to 2.31% from 2.57% while NII dropped 6% to Rs.1997 crore. In terms of asset quality too there was a slip – Gross NPA was at 7.05% v/s 6.12% (QoQ) and Net NPA slipped from 2.95% to 3.39%. The provision coverage ratio actually came down from 57.85% to 55% sequentially.

Capital Adequacy ratio of the Bank under Basel III is 10.30% as on December 31, 2015. It does not include net profit of 9M/FY16.The Tier I CRAR is 7.70% within which Common Equity Tier 1 is 7.45% compared to regulatory minimum of 5.50%. CASA share in total deposits stands at 30.6% as compared to 28.6% in previous quarter and 28.7% a year ago. Domestic CASA ratio stood at 31.2% as against 29.0% (QoQ).

The Bank has 4134 branches including three overseas branches at the end of December 2015 with nearly 60% of branches are located in rural/semi-urban centres.