Union Bank of India's net loss widens to Rs 3,369 crore in Q4
15th May 2019

Union Bank of India has reported results for the fourth quarter and year ended March 31, 2019.

The Bank has reported a net loss of Rs 3,369.23 crore for the quarter ended March 31, 2019, as compared to net loss of Rs 2,583.38 crore for the same quarter in the previous year. Total income of the Bank increased marginally by 0.25% at Rs 9,621.01 crore for the quarter under review as compared Rs 9,596.86 crore for the quarter ended March 31, 2018.

For the year ended March 31, 2019, the Bank has posted a net loss of Rs 2,947.45 crore as compared to net loss of Rs 5,247.37 crore for the same period in the previous year. Total income of Bank increased 2.13% at Rs 38,540.61 crore for year under review as compared to Rs 37,737.86 crore for the period ended March 31, 2018.

For the year ended March 31, 2019, on the consolidated basis, the Bank has reported a net loss of Rs 2,922.35 crore as compared to net loss of Rs 5,212.47 crore for the previous year. Total income of the Bank increased by 2.45% at Rs 39,355.38 crore for year under review as compared to Rs 38,413.65 crore for year ended March 31, 2018.