Financial Results for the Quarter and Year ended March 31, 2021

The Board of Directors of Union Bank of India today approved the accounts of the Bank for the Quarter and Year ended March 31, 2021. 

Key Highlights 1.    Strong Financial Performance:  Operating Profit of the Bank improved by 40.38 % during Q4 FY21 as compared to Q4 FY 20 and 6.54% on YoY basis during FY 21. Net Profit for FY21 stood at Rs 2906 Crores against net loss of Rs 6613 Crores for FY20. Net interest income of Bank grew by 4.37% YoY during FY21.  2.    Bank continues to demonstrate a strong liability franchise  

The CASA deposits have increased by 13.15% YoY. Total deposits base stood at Rs.923805 Crores as at the end of Q4FY21. CASA ratio improved to 36.33% from 34.15% a year ago. 

 3.    Credit in Retail, Agri and MSME (RAM) segments grown by 8.40% YoY 

Bank registered 10.49% growth in Retail, 11.89% growth in Agriculture, 3.24% growth in MSME advances. Average advances has grown by 3.11% YoY. Domestic Advance including CP & Corporate Bonds has grown by 1.13% YoY. 

 4.    Reduction in Slippages:- Slippages during FY21 have reduced by 30.63% as compare to FY20 (from Rs 25147 Crore during FY20 to Rs 17443 Crore during FY 21). Net NPA of Q4FY21 stood at 4.62%.  5.    Provision coverage ratio of the Bank improved to 81.27% as on March 31, 2021 Provision coverage ratio of the Bank improved to 81.27% as on March 31, 2021 as against 78.21% as on March 31, 2020 6.    Robust performance on EASE 3.0 parameters during Q3 FY21 

Under EASE (Enhanced Access and Service Excellence) Bank has secured 3rd position in overall ranking and Top 3 position in 4 themes out of 5, amongst PSBs during Q3 FY21. 

 7.    Amalgamation:-Integration of CBS systems of all e-AB and e-CB branches completed in record time. 

Key Summary of Q4FY2021 Results 

Rs in Crore Q4FY20 Q3FY21 Q4FY21 YoY% QoQ% FY20 FY21 YoY% 
Profit & Loss 
Interest Income 18241 17087 15475 -15.16 -9.44 73186 68767 -6.04 
Interest Expenses 12274 10498 10072 -17.94 -4.05 49532 44079 -11.01 
Net Interest Income 5967 6590 5403 -9.46 -18.01 23654 24688 4.37 
Non-Interest Income 3697 3016 4551 23.10 50.92 11753 11337 -3.54 
NIM % 2.89 2.94 2.38 -51bps -56bps 2.97 2.71 -26bps 
Operating Profit 3690 5311 5180 40.38 -2.47 18076 19259 6.54 
Loan Loss Provisions 10847 4584 3850 -64.51 -16.01 24690 16353 -33.76 
Profit After Tax -7157 727 1330 – – -6613 2906 – 
Rs in Crores Mar 20 Dec 20 Mar 21 YoY% QoQ% 
Balance Sheet 
Global Advances 666117 651973 653684 -1.87 0.26 
Domestic Advances 645421 635225 637672 -1.20 0.39 
W/w Retail 113520 120386 125427 10.49 4.19 
       Agriculture 107358 115373 120124 11.89 4.12 
      MSME 118440 125504 122274 3.24 -2.57 
     RAM advances 339318 361263 367825 8.40 1.82 
Domestic advances including CP & Corp bonds 664106 668076 671635 1.13 0.53 
Deposits 868632 882423 923805 6.35 4.69 
CASA 296598 312213 335592 13.15 7.49 
Term Deposits 572035 570210 588213 2.83 3.16 
CASA Ratio (%) 34.15 35.38 36.33 218 bps 95 bps 
GNPA 97193 87968 89788 -7.62 2.07 
NNPA 31325 19063 27281 -12.91 43.11 
Ratios (%) Q4FY20 Q3FY21 Q4FY21 YoY bps QoQ bps FY20 FY21 YoY bps 
Asset Quality 
GNPA 14.59 13.49 13.74 -85 25 14.59 13.74 -85 
NNPA 5.22 3.27 4.62 -60 135 5.22 4.62 -60 
PCR 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Create a free website or blog at WordPress.com.

Up ↑

%d bloggers like this: