Union Bank of India Q1 profit may fall 5.5% to Rs 529 cr

Asset quality will also be closely watched as it deteriorated in previous quarter. Slippages and restructured loans continued to remain elevated. The restructured pipeline was Rs 1,700 crore at the end of March 2014 with gross non-performing assets (GNPA) guidance at 3.75 percent as against 4.08 percent in Q4FY14.

Public sector lender Union Bank of India will announce its first quarter (April-June) earnings on Friday. Key factor to watch out would be its profit recovery in an initial quarter of current financial year because in Q4FY14 profit declined 27 percent year-on-year on account of 40 percent spike in provisions Y-o-Y but helped by a tax write back of Rs 180 crore. After adjusted for the same, the profit was down 49 percent on yearly basis in Q4. Hence in Q1FY15, profit expectations are varied from a decline of 33 percent to a growth of 24 percent.

After the announcement of January-March quarter earnings, the bank had said it would expect performance to improve in coming quarters and targetted credit growth at 10-12 percent. It had estimated FY15 net interest margin guidance at 2.9 percent.

According to CNBC-TV18 poll estimates, analysts expect profit after tax to fall by 5.5 percent year-on-year at Rs 529 crore but net interest income to increase by 8.9 percent year-on-year at Rs 2,080 crore in the quarter ended June 2014.

Anda sedang membaca artikel tentang

Union Bank of India Q1 profit may fall 5.5% to Rs 529 cr

Dengan url

http://harmonisem.blogspot.com/2014/07/union-bank-of-india-q1-profit-may-fall.html

Anda boleh menyebar luaskannya atau mengcopy paste-nya

Union Bank of India Q1 profit may fall 5.5% to Rs 529 cr

namun jangan lupa untuk meletakkan link

Union Bank of India Q1 profit may fall 5.5% to Rs 529 cr

sebagai sumbernya

Harmonis Hubungan