 "Union Bank of India becomes the first Public Sector Bank to join the Account Aggregator Ecosystem")
Public sector lender Union Bank of India’s net profit rose by 8.26 per cent year-on-year to Rs 1,440 crore in the fourth quarter ended March 2022, on improvement of net interest margins.
It had posted a net profit of Rs 1,330 crore in Q4FY21.
For FY22, the net profit rose by 80.05 per cent to Rs 5,232 crore from Rs 2,906 crore in FY21.
The board has recommended a dividend of Rs 1.9 per equity share (of face value of Rs 10) for 2021-22, subject to shareholders’ nod, the bank informed BSE.
The Mumbai-based lender’s net interest income (NII) expanded by 25.29 per cent
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