Union Bank clocks Rs 101 cr profit

Union Bank clocks Rs 101 cr profit
ENS ECONOMIC BUREAU

Mumbai, June 24: Union Bank of India has clocked a net profit of Rs 101 crore for the financial year ended March 31, 2000. The bank has posted a 26.35 per cent rise in operating profit to Rs 391.65 crore, up from Rs 309.98 crore in the previous year.

The export credit turnover increased 17.4 per cent to Rs 8,049 crore, up from Rs 6,858 crore. Import credit turnover increased 22.4 per cent to Rs 3,620 crore compared to Rs 2,957 crore. Total investments by the bank was to the tune of Rs 11,479 crore. Income from trading in shares and government securities was Rs 43 crore. Average credit deposit ratio ratio rose to 47.03 per cent as against 43.87 per cent.

Capital adequacy ratio stood at 11.42 per cent as against the Reserve Bank of India stipulated norm of 9 per cent.