Bengaluru, 29th July 2021 : The Board of Directors of Union Bank of India today approved the accounts of the Bank for the
Quarter ended June 30, 2021.
Key Highlights in Q1FY22
- Strong Financial Performance:
Operating Profit and Net Profit of the Bank improved by 31.45% and 254.93% respectively on YoY basis during Q1FY22. Net interest income of Bank grew by 9.53% on YoY basis during Q1FY22.
2. Bank continues to demonstrate a strong liability franchise
The CASA deposits have increased by 11.23% YoY. We now have a total deposits base at Rs.9,08,528 Crores as at the end of Q1FY22. CASA ratio improved to 36.39% from 33.30% on YoY basis.
3. Credit in Retail, Agri and MSME (RAM) segments grown by 8.92% on YoY basis
Bank registered 10.61% growth in Retail, 12.70% growth in Agriculture and 3.33% growth in MSME advances on YoY basis. RAM advances as % of Domestic Advances improved by 451 bps on YoY basis to 56.08%.
4. Reduction in NPA:-
Gross NPA (%) reduced by 135 bps on YoY basis to 13.60% and Net NPA(%) reduced by 28 bps on YoY basis to 4.69% as on 30.06.2021. Credit Cost reduced by 135 bps QoQ for Q1FY22.
5. Cost to Income ratio of the Bank improved by 320 bps on YoY basis
Cost to Income ratio of the Bank improved by 320 bps on YoY basis from 48.71% during Q1FY21 to 46.51% during Q1FY22.
6. Improved capital ratios
CRAR improved from 11.62% as on 30.06.2020 to 13.32% as on 30.06.2021. CET1 ratio improved to 9.77% as on 30.06.2021 from 8.40% as on 30.06.2020.
Key Summary of Q1FY2022 Results
|
In Rs Crores |
Q1FY21 |
Q4FY21 |
Q1FY22 |
YoY% |
QoQ% |
|
Profit & Loss |
|||||
|
Interest Income |
18,429 |
15,475 |
17,134 |
-7.02 |
10.72 |
|
Interest Expenses |
12,026 |
10,072 |
10,121 |
-15.84 |
0.48 |
|
Net Interest Income |
6,403 |
5,403 |
7,013 |
9.53 |
29.81 |
|
Non-Interest Income |
1,462 |
4,551 |
2,901 |
98.35 |
-36.26 |
|
NIM % |
2.78 |
2.38 |
3.08 |
30 bps |
70 bps |
|
Operating Profit |
4,034 |
5,180 |
5,303 |
31.45 |
2.37 |
|
Total Provisions |
3,701 |
3,850 |
4,122 |
11.36 |
7.06 |
|
Profit After Tax |
333 |
1,330 |
1,181 |
254.93 |
-11.19 |
Corporate Communications Division, Union Bank Bhavan, 239, VidhanBhavan Marg, Nariman Point, Mumbai – 21.
|
In Rs Crores |
Jun 20 |
Mar 21 |
Jun 21 |
YoY% |
QoQ% |
|
Balance Sheet |
|||||
|
Global Advances |
6,50,127 |
6,53,684 |
6,45,091 |
-0.77 |
-1.31 |
|
Domestic Advances |
6,29,242 |
6,37,672 |
6,30,237 |
0.16 |
-1.17 |
|
W/w Retail |
1,13,414 |
1,25,427 |
1,25,445 |
10.61 |
0.01 |
|
Agriculture |
1,05,439 |
1,20,124 |
1,18,825 |
12.70 |
-1.08 |
|
MSME |
1,05,640 |
1,13,250 |
1,09,157 |
3.33 |
-3.61 |
|
RAM advances |
3,24,493 |
3,58,801 |
3,53,427 |
8.92 |
-1.50 |
|
Deposits |
8,92,542 |
9,23,805 |
9,08,528 |
1.79 |
-1.65 |
|
W/w CASA |
2,97,217 |
3,35,592 |
3,30,604 |
11.23 |
-1.49 |
|
Retail Term Deposits(<2 Crs) |
3,70,732 |
3,86,461 |
4,01,020 |
8.17 |
3.77 |
|
CASA Ratio (%) |
33.30 |
36.33 |
36.39 |
309 bps |
6 bps |
|
GNPA |
97,190 |
89,788 |
87,762 |
-9.70 |
-2.26 |
|
NNPA |
28,914 |
27,281 |
27,438 |
-5.10 |
0.58 |
|
Ratios (%) |
Q1FY21 |
Q4FY21 |
Q1FY22 |
YoY bps |
QoQ Bps |
|
Asset Quality |
|||||
|
GNPA |
14.95 |
13.74 |
13.60 |
-135 |
-14 |
|
NNPA |
4.97 |
4.62 |
4.69 |
-28 |
7 |
|
PCR |
79.87 |
81.27 |
81.43 |
156 |
16 |
|
TPCR |
70.25 |
69.62 |
68.74 |
-151 |
62 |
|
Credit Cost |
1.49 |
2.89 |
1.54 |
5 |
-135 |
|
Capital Ratios |
|||||
|
CET-1 ratio |
8.40 |
9.07 |
9.77 |
137 |
70 |
|
Tier-1 ratio |
9.48 |
10.35 |
11.09 |
161 |
74 |
|
CAR |
11.62 |
12.56 |
13.32 |
170 |
76 |
Network:
9312 Branches
11824 ATMs
8216 BC points
94 SARAL/SARAL Lite (MSME Loan Processing Centres) 129 ULPs (Retail Loan Processing Centres)
62 USKs (Agricultural Loan Processing Centres)
Financial inclusion schemes:
Financial inclusion aims to eliminate barriers and provide economically priced financial services to the less accessible sections of the society through government-backed schemes like PMJJBY, PMSBY, PMJDY and APY.
Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY):
PMJJBY is a Government- backed insurance scheme; 0.96 lakh new enrollments were done by Bank for the quarter ended June 30, 2021.
Pradhan Mantri Suraksha Bima Yojana (PMSBY):
PMSBY is Government- backed accidental insurance scheme; 1.45 lakh new enrollments were done by Bank for the quarter ended June 30, 2021
Pradhan Mantri Jan Dhan Yojana (PMJDY):
Under this scheme, as on June 30, 2021, total 2.21 Crore accounts have been opened with account balance of Rs.6,597 Crore as against 1.90 Crore accounts with Rs.5,767 Crore as on June 30, 2020.
Atal Pension Yojana (APY):
APY is a pension scheme, primarily targeted at the unorganized sector, 0.48lakh new enrollments were done by Bank for the quarter ended June 30, 2021.
New schemes launched to tackle COVID-19:
In response to significant challenges of COVID 19, Bank has launched various flagship schemes for business entities, retail customers, in order to ease out the stress or for fulfilling the consumption needs.
PM SVANidhi:
A micro credit facility that provides street vendors a collateral free loan of Rs.10,000 with low rates of interest for a period of one year.
No. of Loans Sanctioned –2,87,506 Total amount Sanctioned - Rs.287 Crore
Union Guaranteed Emergency Credit Line (UGECL):
A special scheme as per GoI guidelines for sanctioning pre-approved limit of up to 20/40 per cent of loan outstanding as on 29th February, 2020 to eligible borrowers, in the form of additional working capital term loan facility to eligible Business Enterprises / MSME borrowers/Individuals, including interested PMMY borrowers.
No. of Loans Sanctioned (UGECL 1,2 &3) –3,72,983
Total amount Sanctioned (UGECL 1,2 &3)– Rs.10,007 Crore
Affordable Housing Scheme:
Pradhan Mantri Awas Yojana (PMAY):
Under this scheme, as on June 30, 2021, Bank has sanctioned an amount of Rs.6,563 Crores to 21,989 beneficiaries including women beneficiaries of 7,891.
