![[ L to R ]Mr. Rohan Ganapathy, Co-Chairman, CII National Committee on Space; Mr. Mallavarapu Apparao, Chairman, CII National Committee on Space; Ms. Jaya Choraria, Deputy Trade Commissioner for South Asia, UK; H.E. Mr. Antonio Bartoli, Ambassador of Italy to India; Dr. Pawan Goenka, Chairman, IN-SPACe; Dr V. Narayanan, Secretary, Department of Space; Chairman, Space Commission; and Chairman, ISRO; Mr. Shashwat Goenka, Vice President, CII; H.E. Mr. Philip Green OAM, High Commissioner of Australia to India; Mr. ISHII Yasuo, Senior Vice President, JAXA; Mr. Radha Krishnan A, Chairman and Managing Director, NSIL](https://24x7newsworld.com/wp-content/uploads/2026/09/Screenshot-2026-09-08-at-20-52-52-DSC_6125.JPG-JPEG-Image-6048-×-4024-pixels-—-Scaled-14_-360x180.avif){kind=tracking}
23rdJune, 2020 Mumbai
The Board of Directors of Union Bank of India today approved the accounts of the Bank for the quarter and financial year ended March31, 2020
Union Bank posted a standalone net loss of Rs 2,897.78 crore, down as compared with a loss of Rs 2,947.45 crore a year ago.
The amalgamation of Andhra Bank and Corporation Bank with Union Bank of lndia was effective April 1, 2020.
Key Highlights(FY 2019-20)Global Business 7.6%(YoY)Global Advances6.6%(YoY)Net Interest Income12.0%(YoY)Operating Profit22.1% (YoY)Domestic NIM2.36%Provision Coverage Ratio (PCR) 73.64%
Other Incomefor the Q4 FY20 increased by 58.6%as compared to Q4 FY19.ØOperating profit for Q4 FY20 increased by 53.3% as compared to Q4 FY19.ØPCR improved to 73.64% as on March 31, 2020 compared to 66.24% as on March 31, 2019.ØNet NPA ratio declined to 5.49% as on March 31, 2020
BusinessPerformance:Global Business grew by 7.6%Y-o-Yto `797589crore as on March31, 2020.Total Global Deposits grew by 8.4%Y-o-Y to `450668crore as on March 31, 2020.Global Gross Advances grew by 6.6%Y-o-Y to `346921croreas on March 31, 2020.CASA baseincreased by119bpsQ-o-Qto 35.59%as on March 31, 2020.Operational Performancefor the quarter ended March 2020:Net Interest Incomefor the Q4 FY20 increased by 10.6% to `2878crore as compared to `2602crore in Q4 FY19.Other Incomefor the Q4 FY20 increased by 58.6% to `2018 crore as compared to `1272crore in Q4 FY19.Operating profit for Q4 FY20 increased by 53.3%to `2653crore as compared to`1730crore in Q4 FY19.Yield on advancesimprovedto 7.57%for Q4 FY20 as against 7.51%for Q4 FY19. Cost of Deposit improvedto 5.46%for Q4 FY20as against 5.66%for Q4 FY19.Cost to income ratioimprovedto 45.82%for Q4 FY20 as against 55.33%for Q4 FY19. Financial Results for the quarter and financial yearended March31, 2020
2Operational Performance for the financialyearended March 2020:Net Interest Incomefor the FY20 increased by 12.0%to `11437crore as compared to `10215crore inFY19.GlobalNet Interest Margin (NIM) for FY20 improved to 2.29%as compared to 2.23%in FY19.Domestic Net Interest Margin (NIM) for FY20 improved to 2.36% as compared to 2.28%in FY19.Other Incomefor the FY20 increased by 17.6% to `5261 crore as compared to `4474crore in FY19.Operating profit for FY20increased by 22.1%to`9181crore as compared to`7521crore inFY19.Yield on advancesimprovedto 7.81%for FY 20 as against 7.71%for FY19. Cost to income ratio improved to 45.02%for FY20 as against 48.80%for FY19. Asset Quality:GNPA ratio declined to 14.15%as on March 31, 2020compared to 14.98%as on March31, 2019.Net NPA ratio declined to 5.49%as on March 31, 2020compared to6.85%as on March31, 2019.Provision Coverage Ratio (PCR)improved to73.64%as on March 31, 2020compared to66.24%as on March31, 2019
