Union Bank of India’s third quarter net profit shrank to ₹78.54 crore, a 74 per cent decline from the ₹302.42 crore it recorded in the corresponding quarter last year.
Domestic net interest margin (NIM) stood at 2.31 per cent down 26 basis points (bps) year-on-year, while global NIM decreased 28 bps at 2.22 per cent.
Operating expenses during Q3 FY16 stood at 1.50 per cent.
Capital adequacy as per Basel-III norms remained flat at 10.3 per cent while net NPA increased 112 basis points to 4.07 per cent. Return on assets on annualised basis stood at 0.08 per cent, down 26 basis points y-o-y.