Union Bank of India net profit up 16.2%

Union Bank of India reported a net profit of Rs.352.5 crore for the quarter ended Sep 30, 2011, increasing by 16.2 percent from Rs.303.4 crore of the same period of the previous financial year.

The total income stood at Rs 5,611.37 crore during the quarter under review as against Rs.4,461.88 crore during the same period in 2010-11, the company declared.

The gross non-performing assets grew at 3.49 percent during the period as compared to 2.79 percent in the same quarter last year.