MUMBAI, 26 JANUARY, 2025 (TGN): In an exchange filing, Union Bank of India informed the bourses that the meeting of the Board of Directors of the company is scheduled on Monday, January 27, 2025, inter alia, to consider and approve unaudited/reviewed financial results
(standalone and consolidated) of the bank for the quarter ended on December 31, 2024.
“This is to inform you that a meeting of the Board of Directors of the Bank is scheduled to be held on Monday, January 27, 2025 inter alia, to consider amongst others, the Unaudited Reviewed Financial Results
(Standalone and Consolidated) of the Bank for the Quarter ended on December 31, 2024,” the exchange filing of the bank read.
The PSU bank had declared Q2 earnings for FY25 at around 8.12 PM on October 21, 2024. It is expected that the company will announce its Q3 FY25 earnings at around the same time on January 27.
The bank, in the filing, further said that earlier it was informed the ‘Trading Window’ for dealing in the securities of the bank shall remain closed for the designated persons and all other insiders from January 1, 2025 up to 48 hours after the declaration of unaudited reviewed financial results of the bank for the quarter ended on December 31, 2024.
Union Bank of India reported a rise of 34 per cent in net profit for the second quarter ending September 2024 to stand at Rs 4,720 crore, up from Rs 3,511 crore in the same period last year. Total income rose to Rs 32,036 crore, compared to Rs 28,282 crore a year earlier.
Interest income earned for the quarter was Rs 26,708 crore, up from Rs 24,587 crore the previous year. Net interest income (NII) decreased by 0.87 per cent to Rs 9,047 crore from Rs 9,126 crore in the same quarter last year. The net interest margin (NIM) also fell to 2.9 per cent from 3.18 per cent in the previous fiscal year’s second quarter.
Shares of Union Bank of India on Friday’s trading session ended at Rs 108.70, down 1 per cent from the previous close of Rs 109.80, on the BSE. The stock opened at Rs 109.80 hitting an intra-day high of Rs 109.80 and a low of Rs 108, respectively.
