Union Bank net loss widens to ₹3,370 crore in Q4

Hindustan Times (Patiala) - - Business -

State-owned Union Bank of In­dia on Tues­day said its net loss widened to ₹3,370 crore in the fourth quar­ter of 2018-19, mainly on ac­count of higher pro­vi­sion­ing. The com­pany had reg­is­tered a net loss of ₹2,583 crore in the same quar­ter of the pre­ced­ing fis­cal. How­ever, the bank had posted a net profit of ₹153 crore in the third quar­ter of 2018-19. To­tal in­come in three months to March grew to ₹9,621 crore, as against ₹9,596 crore in the same pe­riod of 2017-18.

For fis­cal 2019, the bank re­ported a net loss of ₹2,922 crore on a con­sol­i­dated ba­sis, as against ₹5,212 crore loss in 2017-18.

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