Union Bank shares in focus as lender reports 34% YoY jump in Q2 profit

Union Bank of India reported a 34% increase in net profit for Q2 2024, reaching Rs 4,720 crore, with total income rising to Rs 32,036 crore. Interest income grew to Rs 26,708 crore, though net interest income fell slightly. The bank improved asset quality, reducing gross NPAs to 4.36%. Total business increased by 9.37%, reaching Rs 21,70,779 crore.