Union Bank Posts Profit of Rs 5,503 Crore
Mumbai: The financial results for the March quarter, released by the public sector lender Union Bank of India (UBI), failed to impress the market. For this period, the bank reported a net profit of Rs 5,503 crore on a consolidated income of Rs 31,851.15 crore. Compared to the same period last year, the bank's net profit increased by 9.8%. However, excluding the profits contributed by its subsidiaries, the bank's standalone net profit grew by 6.6%, reaching Rs 5,316 crore.
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