Union Bank of India Q4FY12 result first cut
RAJESH DESAI
Dear Sir/Madam,
Union Bank of India has announced its Q4FY12 along with FY12 result on 9th May 2012.
On the quarterly basis, the bank’s total income increased by 10.92% QoQ and 13.59% YoY to INR2631.98 crores mainly, because of 9.33% and 25.78% YoY growth in its Net Interest Income (NII) and other income respectively. Profit After Tax (PAT) increased by 292.48% QoQ and 29.39% YoY to INR773.19 crores mainly, because of 46.83% QoQ decline in Provision and Contingencies to INR517.15 crores. For the whole year of FY12, the bank’s total income increased by 11.77% YoY to INR9239.36 crores whereas, Profit After Tax (PAT) down by 15.13% YoY to INR1756.05 crores due to higher provisioning by 88.31% YoY to INR2541.42 crores.
The Bank has reported a growth in advances by 14.52% QoQ and 18.48% YoY to INR178882.08 crores and a growth in deposits by 8.55% QoQ and 10.08% YoY to INR222868.95 crores. On the assets front, the bank has improved its assets quality, NNPA and GNPA stood at 1.70% and 3.01%, decreased by 18 and 32bps sequentially. Moreover, Capital Adequacy Ratio (CAR) stood at 11.85%, which is 2.85% higher than the regulator’s stipulated norm of 9%. Provision Coverage Ratio (PCR) stood at 62.22%.
The Board of Directors have recommended a dividend of 80% i.e. Rs.8 per equity share of Rs.10 each for the year ended 31st March 2012.
|
Union Bank of India Q4FY12 Result-[INR-Crores] |
Consolidated |
|||||||
|
DESCRIPTION |
Q4'12 |
Q3'12 |
Q4'11 |
QoQ% |
YoY% |
FY12 |
FY11 |
YoY% |
|
Interest Earned |
5743.41 |
5374.71 |
4615.26 |
6.86 |
24.44 |
21152.48 |
16460.94 |
28.50 |
|
Interest Expended |
3866.81 |
3593.85 |
2898.74 |
7.60 |
33.40 |
14229.73 |
10234.31 |
39.04 |
|
NII |
1876.60 |
1780.86 |
1716.52 |
5.38 |
9.33 |
6922.75 |
6226.63 |
11.18 |
|
Other Income |
755.38 |
592.11 |
600.55 |
27.57 |
25.78 |
2316.61 |
2039.72 |
13.57 |
|
Total Income |
2631.98 |
2372.97 |
2317.07 |
10.92 |
13.59 |
9239.36 |
8266.35 |
11.77 |
|
Operating Expenses |
1033.19 |
1088.87 |
1447.53 |
-5.11 |
-28.62 |
4016.27 |
3974.28 |
1.06 |
|
Operating Profit before Prov.& Cont. |
1598.79 |
1284.10 |
869.54 |
24.51 |
83.87 |
5223.09 |
4292.07 |
21.69 |
|
Provisions and Contingencies |
517.15 |
972.67 |
153.26 |
-46.83 |
237.43 |
2541.42 |
1349.59 |
88.31 |
|
PBT |
1081.64 |
311.43 |
716.28 |
247.31 |
51.01 |
2681.67 |
2942.48 |
-8.86 |
|
Tax |
308.45 |
114.43 |
118.71 |
169.55 |
159.83 |
925.62 |
873.45 |
5.97 |
|
Profit After Tax |
773.19 |
197.00 |
597.57 |
292.48 |
29.39 |
1756.05 |
2069.03 |
-15.13 |
|
Adj Calculated EPS |
14.74 |
3.76 |
11.38 |
292.02 |
29.53 |
33.79 |
39.46 |
-14.37 |
|
Advances |
178882.08 |
156202.00 |
150986.08 |
14.52 |
18.48 |
178882.08 |
150986.08 |
18.48 |
|
Deposits |
222868.95 |
205317.00 |
202461.29 |
8.55 |
10.08 |
222868.95 |
202461.29 |
10.08 |
|
|
Q4'12 |
Q3'12 |
Q4'11 |
QoQ (bps) |
YoY(bps) |
FY12 |
FY11 |
YoY(bps) |
|
Capital Adequacy Ratio Basel II |
11.85% |
11.72% |
12.95% |
13 |
-110 |
11.85% |
12.95% |
-110 |
|
% of Net NPAs |
1.70% |
1.88% |
1.19% |
-18 |
51 |
1.70% |
1.19% |
51 |
|
% of Gross NPAs |
3.01% |
3.33% |
2.37% |
-32 |
64 |
3.01% |
2.37% |
64 |
|
Provisions Coverage% |
62.22% |
63.14% |
67.58% |
-92 |
-536 |
62.22% |
67.58% |
-536 |
|
C/D ratio |
80.26% |
76.08% |
74.58% |
418 |
569 |
80.26% |
74.58% |
568 |
|
C/I Ratio |
39.26% |
45.89% |
62.47% |
-663 |
-2322 |
43.47% |
48.08% |
-461 |
|
OI/TI |
60.74% |
54.11% |
37.53% |
663 |
2322 |
56.53% |
51.92% |
461 |
Regards,
Team Microsec Research
Microsec Capital Limited
Tel: 91 33 30512100
Fax: 91 33 30512020
--
CA. Rajesh Desai