Union Bank Of India Q3 profit falls 13%

Union Bank of India, a public sector bank in India, has posted a fall of 13.33% in net profit to Rs 3,024.20 million for the quarter ended December 31, 2014 as compared to Rs 3,489.40 million in the corresponding quarter, a year ago.

Total Income has increased by 8.39% to Rs. 89,210 million for the quarter ended December 31, 2014 from Rs 82,301.70 million for the same quarter last year.

Capital Adequacy ratio of the Bank under Basel III is 10.30% as on December 31,2014.

Shares of the bank declined Rs 18.65, or 7.42%, to trade at Rs 232.75 (at 12.34 p.m, Tuesday)