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Union Bank of India has announced its Q4FY12 along with FY12 result on 9th May 2012.
On the quarterly basis, the bank’s total income increased by 10.92% QoQ and 13.59% YoY to INR2631.98 crores mainly, because of 9.33% and 25.78% YoY growth in its Net Interest Income (NII) and other income respectively. Profit After Tax (PAT) increased by 292.48% QoQ and 29.39% YoY to INR773.19 crores mainly, because of 46.83% QoQ decline in Provision and Contingencies to INR517.15 crores. For the whole year of FY12, the bank’s total income increased by 11.77% YoY to INR9239.36 crores whereas, Profit After Tax (PAT) down by 15.13% YoY to INR1756.05 crores due to higher provisioning by 88.31% YoY to INR2541.42 crores.
The Bank has reported a growth in advances by 14.52% QoQ and 18.48% YoY to INR178882.08 crores and a growth in deposits by 8.55% QoQ and 10.08% YoY to INR222868.95 crores. On the assets front, the bank has improved its assets quality, NNPA and GNPA stood at 1.70% and 3.01%, decreased by 18 and 32bps sequentially. Moreover, Capital Adequacy Ratio (CAR) stood at 11.85%, which is 2.85% higher than the regulator’s stipulated norm of 9%. Provision Coverage Ratio (PCR) stood at 62.22%.
The Board of Directors have recommended a dividend of 80% i.e. Rs.8 per equity share of Rs.10 each for the year ended 31st March 2012.
Union Bank of India Q4FY12 Result-[INR-Crores]
|
Consolidated
| |||||||
DESCRIPTION
|
Q4'12
|
Q3'12
|
Q4'11
|
QoQ%
|
YoY%
|
FY12
|
FY11
|
YoY%
|
Interest Earned
|
5743.41
|
5374.71
|
4615.26
|
6.86
|
24.44
|
21152.48
|
16460.94
|
28.50
|
Interest Expended
|
3866.81
|
3593.85
|
2898.74
|
7.60
|
33.40
|
14229.73
|
10234.31
|
39.04
|
NII
|
1876.60
|
1780.86
|
1716.52
|
5.38
|
9.33
|
6922.75
|
6226.63
|
11.18
|
Other Income
|
755.38
|
592.11
|
600.55
|
27.57
|
25.78
|
2316.61
|
2039.72
|
13.57
|
Total Income
|
2631.98
|
2372.97
|
2317.07
|
10.92
|
13.59
|
9239.36
|
8266.35
|
11.77
|
Operating Expenses
|
1033.19
|
1088.87
|
1447.53
|
-5.11
|
-28.62
|
4016.27
|
3974.28
|
1.06
|
Operating Profit before Prov.& Cont.
|
1598.79
|
1284.10
|
869.54
|
24.51
|
83.87
|
5223.09
|
4292.07
|
21.69
|
Provisions and Contingencies
|
517.15
|
972.67
|
153.26
|
-46.83
|
237.43
|
2541.42
|
1349.59
|
88.31
|
PBT
|
1081.64
|
311.43
|
716.28
|
247.31
|
51.01
|
2681.67
|
2942.48
|
-8.86
|
Tax
|
308.45
|
114.43
|
118.71
|
169.55
|
159.83
|
925.62
|
873.45
|
5.97
|
Profit After Tax
|
773.19
|
197.00
|
597.57
|
292.48
|
29.39
|
1756.05
|
2069.03
|
-15.13
|
Adj Calculated EPS
|
14.74
|
3.76
|
11.38
|
292.02
|
29.53
|
33.79
|
39.46
|
-14.37
|
Advances
|
178882.08
|
156202.00
|
150986.08
|
14.52
|
18.48
|
178882.08
|
150986.08
|
18.48
|
Deposits
|
222868.95
|
205317.00
|
202461.29
|
8.55
|
10.08
|
222868.95
|
202461.29
|
10.08
|
Q4'12
|
Q3'12
|
Q4'11
|
QoQ (bps)
|
YoY(bps)
|
FY12
|
FY11
|
YoY(bps)
| |
Capital Adequacy Ratio Basel II
|
11.85%
|
11.72%
|
12.95%
|
13
|
-110
|
11.85%
|
12.95%
|
-110
|
% of Net NPAs
|
1.70%
|
1.88%
|
1.19%
|
-18
|
51
|
1.70%
|
1.19%
|
51
|
% of Gross NPAs
|
3.01%
|
3.33%
|
2.37%
|
-32
|
64
|
3.01%
|
2.37%
|
64
|
Provisions Coverage%
|
62.22%
|
63.14%
|
67.58%
|
-92
|
-536
|
62.22%
|
67.58%
|
-536
|
C/D ratio
|
80.26%
|
76.08%
|
74.58%
|
418
|
569
|
80.26%
|
74.58%
|
568
|
C/I Ratio
|
39.26%
|
45.89%
|
62.47%
|
-663
|
-2322
|
43.47%
|
48.08%
|
-461
|
OI/TI
|
60.74%
|
54.11%
|
37.53%
|
663
|
2322
|
56.53%
|
51.92%
|
461
|
Regards,
Team Microsec Research
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