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Union Bank Q4 profit up 50%, sees margin pressure
Hindustan Times Ranchi
|May 10, 2025
State-owned Union Bank of India's March quarter net profit jumped 50% to ₹4,985 crore, and a top official Friday said RBI's rate cuts will keep its net interest margins under pressure going forward.
MUMBAI:
The bank had earned a net profit of ₹3,311 crore in the same quarter previous fiscal.
Total income rose to ₹33,254 crore in the quarter as compared to ₹31,058 crore in the same period a year ago.
Speaking to reporters, managing director and chief executive A. Manimekhalai declined to comment on the controversy surrounding allegations of impropriety in the bulk purchase of a book by former chief economic adviser Krishnamurthy Subramanian by the bank.
She also did not answer a specific question on whether the senior management's role is being investigated in the matter.
This story is from the May 10, 2025 edition of Hindustan Times Ranchi.
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