Friday, 11 May 2018

Union Bank of India Q4 loss at Rs 2,583.4 cr on sharp jump in provisions

Provision for bad loans jumped nearly 275 percent to Rs 5,639 crore. Government-owned Union Bank of India reported a loss of Rs 2,583.4 crore for the fourth quarter of FY18 due to near 275 percent jump in provisions for bad loans to Rs 5,639 crore. In March quarter a year back, close to Rs 420-crore in tax write-back had helped the bank report a net profit at Rs 108.22 crore. It had posted a net loss of Rs 1,250 crore in the December quarter due to a spike in bad loans and provisions towards accounts under insolvency.

To Get Free Trial 
Missed call @ 9582541010 
Call Us @ 8822117117 
Mail Us = 
Visit =

No comments:

Post a Comment