UBI profits 34.95 percent up for Q1

Mumbai, July 23: Leading public sector lender Union Bank of India (UBI) has posted a 34.95 per cent growth in the net profit for the quarter ended June 30.

Net Profits grew to Rs 225.1 crore from Rs 166.8 crore in the curresponding period last year.

Total income grew from Rs 1791.4 crore to Rs 2289.4 crore during the period, the bank said in a communique to BSE today.

Operating profit grew from Rs 426.48 crore to Rs 525.48 crore for the quarter while Earnings Per Share (EPS) increased to Rs 4.46 from Rs 3.3l.

UBI has a Capital Adequacy Ratio (CAR) of 12.66 per cent as compared to 11.25 pecent it had in the quarter ended June 30, 2006.

UNI