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

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.