Union Bank PAT rises 40% in September quarter

Union Bank of India (UBI) has announced its unaudited results for the quarter ended September 30, 2009.

The company reported a net profit of Rs 505.10 crore for the quarter under consideration against Rs 361.46 crore in the year ago period, a growth of 39.74%.

Total income of the bank has increased by 20.75% to Rs 3760.90 crore over Rs 3114.53 crore on a Year-on-Year (YoY) basis.

Citing lack of trained staff, Union Bank of India, which had charted major branch expansion plans, said it will go slow on the expansion.