Modest operating performance; NIMs decline 15bp QoQ

Company

23 Oct 2024 | 5 Min Read

Union Bank of India's financials and valuations are provided for FY24, FY25E, and FY26E.

The bank reported a mixed quarter with healthy other income and lower provisions.

Modest operating performance was observed with a decline in NIMs.

Slippages increased due to a single large ticket size account defaulting in the current quarter.

The bank's management has guided for NIMs in the range of 2.8 3% for FY25.

The bank's RoA remained robust at 1.35% in 2QFY25.