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Union Bank of India Q4 profit rises 13 pct, misses estimates
May 8, 2017 / 1:31 PM / 7 months ago

Union Bank of India Q4 profit rises 13 pct, misses estimates

May 8 (Reuters) - Union Bank of India Ltd on Monday posted a 13 percent rise in its fourth-quarter net profit as the gross bad-loan ratio eased sequentially, but fell short of analysts’ expectations.

The country's sixth-biggest public sector lender by assets said net profit for the March quarter stood at 1.08 billion rupees ($16.79 million). (

Analysts on average had expected a fourth-quarter net profit of 1.89 billion rupees, according to Thomson Reuters data.

Gross bad loans as a percentage of total loans stood at 11.17 percent at the end of March, compared with 11.70 percent in the preceding quarter, and 8.70 percent a year earlier.

$1 = 64.3050 Indian rupees Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Subhranshu Sahu

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