- Union Bank of India’s net income for the first quarter was 41.2 billion rupees, showing a 12% increase year-over-year, but it missed the estimated 42.45 billion rupees.
- Gross non-performing assets were reported at 3.52%, a slight improvement from the previous quarter’s 3.6%, although higher than the estimated 3.45%.
- The bank made provisions of 16.6 billion rupees, a 7.8% increase compared to the previous quarter.
- Interest income rose by 3.5% year-over-year to 272.96 billion rupees, surpassing estimates of 270.55 billion rupees.
- Interest expenses increased by 7.3% year-over-year to 181.8 billion rupees, exceeding the estimated 178.79 billion rupees.
- Other income saw a slight decrease of 0.3% year-over-year, amounting to 44.86 billion rupees.
- Provision for loan losses decreased significantly by 32% quarter-on-quarter to 11.5 billion rupees.
- The operating profit was 69 billion rupees, an 11% drop from the previous year, missing the estimated 74.51 billion rupees.
- Analyst recommendations for Union Bank of India include 9 buys, 1 hold, and 2 sells.
A look at Union Bank Of India Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 5 | |
| Dividend | 5 | |
| Growth | 4 | |
| Resilience | 5 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 4.6 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Union Bank of India Limited, a prominent banking institution in India, demonstrates a promising long-term outlook based on the Smartkarma Smart Scores. With top ratings in Value, Dividend, Resilience, and solid scores in Growth and Momentum, the bank appears well-positioned for sustained success. As a leading provider of comprehensive banking solutions across India, Union Bank of India offers a wide array of services including retail banking, investment management, and cash management. Moreover, the bank’s commitment to delivering value to its shareholders is underscored by its impressive dividend score, reflecting a strong financial performance.
In summary, Union Bank of India Limited stands out as a robust player in the Indian banking sector, supported by its stellar Smartkarma Smart Scores. With a strategic focus on value creation, resilient operations, and consistent dividend payouts, the bank is poised to navigate through market dynamics effectively. Its diverse range of banking services, including retail and commercial banking, positions Union Bank of India as a formidable player in the industry, well-equipped to capitalize on growth opportunities and deliver value to its stakeholders.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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