The Board of Directors of Union Bank of India today approved the accounts of the Bank for the Quarter and Year ended March 31, 2022.
Key Highlights
Board of Directors have recommended a dividend of Rs.1.90 per equity share (19%) for the year ended March 31, 2022 subject to requisite approvals.
Strong Financial Performance:
Net Profit of the Bank improved by 80.05% (YoY) during FY22. Net interest income of Bank grew by 12.55% (YoY) during FY22 and by 25.29% (YoY) for Q4FY22.
Bank continues to demonstrate a strong liability franchise
The CASA deposits have increased by 12.40% (YoY). Bank now has a total deposits base at Rs.10,32,392 Crores as on March 31, 2022.CASA ratio improved by 21 bps to 36.54% from 36.33% (YoY).
Business growth gaining momentum
The Advances have increased by 7.00% (QoQ) and 9.60% (YoY), while Deposits have increased by 10.13% (QoQ) and 11.75% (YoY). Bank now has a total Business of Rs.17,48,800 Crores as on Mar 31, 2022.
5. Credit growth in Retail, Agri and MSME (RAM) segments
Bank registered 8.65% growth in Retail, 10.80% growth in Agriculture and 8.56% growth in MSME advances on YoY basis. RAM advances as a per cent of Domestic Advances stands at 54.96%.
Reduction in NPA
Gross NPA (%) reduced by 263 bps on YoY basis to 11.11% and Net NPA (%) reduced by 94 bps on YoY basis to 3.68% as on 31.03.2022. Credit Cost reduced by 89 bps YoY for Q4FY22.
Improved capital ratios
CRAR improved from 12.56% as on 31.03.2021 to 14.52% as on 31.03.2022. CET1 ratio improved to 10.63% as on 31.03.2022 from 9.07% as on 31.03.2021. PCR also improved by 234 bps on YoY basis from 81.27% as of Mar 31, 2021 to 83.61% as of Mar 31, 2022.
Key Summary of Results
In Rs Crores
Q4FY21
Q3FY22
Q4FY22
YoY%
QoQ%
FY21
FY22
YoY%
Profit & Loss
Interest Income
15,475
16,930
17,174
10.98
1.45
68,767
67,944
-1.20
Interest Expenses
10,072
9,755
10,405
3.30
6.66
44,079
40,157
-8.90
Net Interest Income
5,403
7,174
6,769
25.29
-5.65
24,688
27,786
12.55
Non-Interest Income
4,330
2,524
3,243
-25.10
28.48
11,744
12,525
6.64
NIM %
2.38
3.00
2.75
37 bps
-25 bps
2.71
2.94
23 bps
Operating Profit
4,959
5,098
5,520
11.32
8.28
19,667
21,873
11.22
Total Provisions
3,629
4,013
4,081
12.44
1.69
16,761
16,641
-0.72
Profit After Tax
1,330
1,085
1,440
8.26
32.63
2,906
5,232
80.05
In Rs Crores
Mar 21
Dec 21
Mar 22
YoY%
QoQ%
Balance Sheet
Global Advances
6,53,684
6,69,531
7,16,408
9.60
7.00
Domestic Advances
6,37,672
6,53,709
6,99,269
9.66
6.97
W/w Retail
1,25,427
1,32,164
1,36,273
8.65
3.11
Agriculture
1,20,124
1,28,152
1,33,092
10.80
3.85
MSME
1,05,908
1,11,874
1,14,975
8.56
2.77
RAM advances
3,51,459
3,72,190
3,84,340
9.36
3.26
Deposits
9,23,805
9,37,455
10,32,392
11.75
10.13
W/w CASA
3,35,592
3,46,754
3,77,193
12.40
8.78
Retail Term Deposits (<2 Crs)
3,93,472
4,37,528
4,43,752
12.78
1.42
CASA Ratio (%)
36.33
36.99
36.54
21 bps
-45 bps
GNPA
89,788
77,787
79,587
-11.36
2.32
NNPA
27,281
25,258
24303
-10.92
-3.78
Ratios (%)
Q4FY21
Q3FY22
Q4FY22
YoY
bps
QoQ
bps
Asset Quality
GNPA
13.74%
11.62%
11.11%
-263
-51
NNPA
4.62%
4.09%
3.68%
-94
-41
PCR
81.27%
82.80%
83.61%
234
81
TPCR
69.62%
67.53%
69.46%
-16
193
Credit Cost
2.89%
1.40%
2.00%
-89
60
Capital Ratios
CET-1 ratio
9.07%
10.18%
10.63%
156
45
Tier-1 ratio
10.35%
11.75%
12.20%
185
45
CRAR
12.56%
13.92%
14.52%
196
60
Network:
* 8,873 Branches
* 11,232 ATMs
* 8,216 BC points
* 126 SARAL/SARAL Lite (MSME Loan Processing Centres)
* 130 ULPs (Retail Loan Processing Centres)
* 101 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; 1.58 lakh new enrollments were done by Bank for the quarter ended March 31, 2022.
* Pradhan Mantri Suraksha Bima Yojana (PMSBY):
PMSBY is Government- backed accidental insurance scheme; 7.66 lakh new enrollments were done by Bank for the quarter ended March 31, 2022.
* Pradhan Mantri Jan Dhan Yojana (PMJDY):
Under this scheme, as on March 31, 2022, total 2.45 Crore accounts have been opened with account balance of Rs.7,780 Crore as against 2.17 Crore accounts with Rs.6,465 Crore as on March 31, 2021.
* Atal Pension Yojana (APY):
APY is a pension scheme, primarily targeted at the unorganized sector, 1.29 lakh new enrollments were done by Bank for the quarter ended March 31, 2022.
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 – 3,54,447
Total amount Sanctioned – Rs. 382 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&4 including Extension) –3,89,062
Total amount Sanctioned (UGECL 1,2,3&4 including Extension)– Rs.15,527 Crore
Affordable Housing Scheme:
Pradhan Mantri Awas Yojana (PMAY):
Under this scheme, as on March 31, 2022, Bank has sanctioned an amount of Rs.8,179 Crores to 28,171 beneficiaries including 20,826 women beneficiaries.
