FY 2015 Union Bank › pdf › Financial-Results...Financial Results Q3FY20/9MFY20 Please follow us on: @unionbankofindia @UnionBank Tweets UnionBankInsta UnionBankofIndiaUtube UnionBankofIndia

Financial Results Q3FY20/9MFY20

Please follow us on:

@unionbankofindia @UnionBank Tweets UnionBankInsta UnionBankofIndiaUtube UnionBankofIndia

February 10, 2020

Table of Contents

2

Business Performance1

Financials2

Digital Banking4

Strategic Initiatives - Outcome3

Group Entities5

3

Performance Highlight – Q3FY20

Key Ratios

Improving Asset QualityCapital Adequacy (Basel III)

Key Parameters (YoY Growth)

Total Deposit

Rs. 445091 cr

Gross Advance

Rs. 336064 cr

Total Business

Rs. 781155 cr

Net Profit

Rs. 575 cr

RONW

7.90%

CRAR

14.71%

NNPA

6.99%

Dec-18 Mar-19 Sep-19 Dec-19

399627413099

439444 441550

2670

2816

3435 3541

Total Deposit

Domestic deposit Overseas deposit

402297415915

442879 445091

4

Business Performance - Liabilities


23851 26513 24452 25694

119156 123628 125380 127421

CASA Portfolio

Current Deposit Savings Deposit

143007 150141 149832 153115

CASA(%)

(` crore)

10.6 % YOY

7.1 %

YOY

10.5%

YOY

35.5% 36.1% 33.8% 34.4%

34.7% 34.7% 34.2% 34.1%

Avg.

CASA%

76.3

23.7

CASA+Retail TD as % of Total Domestic Deposit as of Dec-2019

CASA+RTD(< 2 crore) Term Deposit(=>2 crore)

6.9 %

YOY

5

Business Performance - Assets


303330 310932 309449 316908

1418314460 17608

19156

Gross Advances

Overseas advances Domestic Advances

(` crore)

5.8 %

YOY


56524 57092 5933562186

Retail


4725748971 48206

49117

Agriculture


66147 67174 68888 69685

MSME10.0% YOY 3.9% YOY 5.3% YOY

4.5 %

YOY

317513325392 327057 336064

46.2%

14.6%

18.5%

20.7%

Proportion of Gross Advance -Dec19

Corporate & Others Agriculture Retail MSME

6

Diversified Loan Portfolio - RAM


56.055.7

57.0 57.1

RAM* share (%) in Domestic advances

46.7

7.15.8

7.6

3.7

29.1

Retail

Home Vehicle

Education Mortgage

Personal Others (incl. HFC+Staff loans)*Retail, Agriculture and MSME collectively called as “RAM sector”

7

Diversified Loan Portfolio - RAM

62 63 64 63

38 37 36 37

Dec-18 Mar-19 Sep-19 Dec - 19

Composition of Agri loan book(%)

Small & Marginal Other Agri

34 34 34 34

42 41 40 42

24 25 26 24

Dec-18 Mar-19 Sep-19 Dec - 19

Composition of MSME loan book(%)

Micro Small Medium

76% of

MSME

portfolio is

MSE

More than

63% of Agri.

portfolio is

for Small &

Marginal

farmers

8

Diversified Loan Portfolio-Industry Exposure

S No. Sectors

Top Sector Exposure

(% Share in Domestic Advance)

Sep-19 Dec-19

` Crore % Share ` Crore % Share

1 Infrastructure 53367 17.2 52270 16.5

2 NBFCs and HFCs 43747 14.1 46687 14.7

w/w HFCs 14491 4.7 17081 5.4

3 Trade 37329 12.1 38909 12.3

4 Basic Metal Products 12134 3.9 11189 3.5

5 Construction 10864 3.5 10126 3.2

6 Food Processing 9575 3.1 10668 3.4

7 Textiles 7056 2.3 7115 2.3

8 All Engineering 5417 1.8 5668 1.8

Total 179489 58.0 182632 57.6

9

NBFC Portfolio

Total FB O/s NBFCs –46687 cr

w/w HFCs – 17081 cr

94.00%

6.00%

Standard Asset NPA

17.27%

82.73%

Comapnies Backed by Govt/PSUs

Pvt Sector Companies

Quality of Standard Assets-NBFC

96.1 99.1

3.0 0.7

0.9 0.3

NBFC (excl HFC) HFC

% of Std advances - Rating wise (Dec-19)

A & Above BBB Below BBB

NBFC Asset Quality

10

Investments

Particulars (Domestic) Sep 2019 Dec 2019Duration

(Years)

(` Crore) (` Crore) Sep-19 Dec-19

Available for Sale 59445 50765 2.74 3.22

W/w SLR 37641 29879 2.74 3.40

NON SLR 21804 20886 2.72 2.87


74 75 73 73

26 25 27 27

Non-SLR(%) SLR(%)

Global Investment (` Crore)

121289 126432 170781 162598

11

Overseas Operations

Business from Overseas Operations

US $ in billion

(` crore)

Dec

2018

Sep

2019

Dec

2019

Growth (%)

Y-o-Y

(US$)

Y-o-Y

(INR)

Total Business2.4

(16853)

2.9

(21043)

3.2

(22697)33.3 34.7

Total Deposits0.4

(2670)

0.4

(3435)

0.5

(3541)25.0 32.6

Total Advances2.0

(14183)

2.4

(17608)

2.68

(19156)34.0 35.1

*1US$ = ` 69.775 as on Dec 31, 2018

#1US$ = ` 71.385 as on Dec 31, 2019

12

Financial Inclusion

94

98

107110


Total PMJDY Accounts(no. in Lacs)

2111

2404 2453

2665


Balance in PMJDY A/Cs(Rs. in Crs)

0.230.81

0.47 0.470.62

5.18

2.19 2.07

0.46 0.47 0.6 0.51


Micro Insurance & APY - Fresh Enrolments (In Lacs)

PMJJY PMSBY APY

Terminal Figures –

Dec 19 (in Lacs)

• PMJJBY – 14.63

• PMSBY – 39.51

• APY – 6.32

13

Progress under Government Initiatives

Progress under Mudra Yojana April to December 2019 (PMMY)

CategoryNo. of

Accounts

Sanctioned Amount

(` crore)

Outstanding Amount

(` crore)

Shishu (< 50k) 44232 86 62

Kishor (Above 50k-5 Lacs) 71325 1523 1263

Tarun (Above 5 Lacs-10 Lacs) 13617 1063 865

Total 129174 2672 2190

Total outstanding under Mudra loan: ` 7393 crore

Key Highlights of performance in TReDS

Crossed `1000 cr. of bill discounting on Nov

06, 2019

Total bill discounting upto Dec-2019 stood at ` 1223.96 cr.

Presence in all 3 TReDS platforms

Key Highlights of

performance under

psbloansin59minutes.com

Since inception upto Dec

2019, total 5887 applications

have been sanctioned

aggregating to ` 2692.31 cr.

Total applications

sanctioned to total received

during Q3FY20 stood at

68.21%

14

As at

31.12.18

As at

31.03.19

As at

30.09.19

As at

31.12.19

Growth (%)

Y-o-Y Q-o-Q

LIABILITIES

Capital 1169 1763 1763 3423 193% 94%

Reserves and surplus 24390 24724 23635 34241 40% 45%

Share application 0 0 11768 0 -- --

Deposits 402297 415915 442879 445091 11% 0%

Borrowings 38528 42864 40691 36572 -5% -10%

Other Liabilities and Provisions 8824 8773 11260 10625 20% -6%

Total 475208 494039 531996 529951 12% -0.4%

ASSETS

Cash and Balances with Reserve Bank of India 18399 20796 20090 21104 15% 5%

Balances with Banks and Money at call and

Short Notice 19911 22250 17034 13501 -32% -21%

Investments 118922 126047 168714 160266 35% -5%

Advances 291890 296932 297914 307566 5% 3%

Fixed Assets 3702 3762 3763 3727 1% -1%

Other Assets 22383 24252 24481 23787 6% -3%

Total 475208 494039 531996 529951 12% -0.4%

Statement of Assets & Liabilities

(` crore)

Table of Contents

15

Digital Banking4


Group Entities5


Financials2

16

Cost & Yield Ratio

Parameters Dec-18 (Q3) Sep-19 (Q2) Dec-19 (Q3) Dec-18 (9M) Dec-19 (9M)

Domestic Global Domestic Global Domestic Global Domestic Global Domestic Global

Cost of Deposit 5.61 5.59 5.68 5.66 5.55 5.53 5.56 5.54 5.62 5.60

Cost of Funds 4.95 4.87 4.79 4.76 4.75 4.69 4.94 4.85 4.84 4.80

Yield on

Advances 7.93 7.75 8.10 7.89 8.25 8.01 8.02 7.79 8.11 7.90

Yield on

Investment 7.23 7.13 7.08 7.03 6.79 6.73 7.09 7.01 6.91 6.86

Yield on Funds 6.98 6.89 7.00 6.89 7.08 6.95 7.01 6.89 7.02 6.92

17

Movement of NIM


2.232.38 2.44

2.55

2.23 2.272.35

2.47

NIM Quarterly(on Avg. Earning Assets)

NIM Domestic NIM Global


2.51 2.54 2.61 2.74

NIM Quarterly(on AEA excl.GNPA)

Global

9M FY 2019 9MFY 2020

2.25 2.392.22 2.32

NIM (9M)(on Avg. Earning Assets)

NIM Domestic NIM Global

9M FY 2019 9M FY 2020

2.49

2.58

NIM (9M)(on AEA excl.GNPA)

Global

18

Net Interest Income


2493 2602 29063134

Quarterly(` crore)

9M FY 2019 9M FY 2020

7613 8559

9M

25.7% YoY

12.42% YoY

19

Operating Revenues

ParametersDec-18

(Q3)

Mar-19

(Q4)

Sep-19

(Q2)

Dec-19

(Q3)

Growth

(%)

YoY

Growth

(%)

QoQ

9M

FY 19

9M

FY 20

Growth

(%)

Interest Income 8477 8349 9414 9630 13.60 2.29 25717 27942 8.65

Interest Expense 5984 5748 6508 6496 8.56 -0.18 18104 19383 7.07

Net Interest Income 2493 2602 2906 3134 25.70 7.83 7613 8559 12.42

Non-Interest Income 1095 1272 1142 1112 1.53 -2.61 3202 3243 1.29

Total Income 9572 9621 10556 10741 12.22 1.76 28919 31185 7.84

Operating Expenses 1778 2143 1809 1843 3.65 1.90 5024 5273 4.95

Total Expenses 7762 7891 8316 8339 7.44 0.28 23128 24656 6.61

20

Non Interest Income

ParametersDec-18

(Q3)

Mar-19

(Q4)

Sep-19

(Q2)

Dec-19

(Q3)

Growth

(%)

YoY

Growth

(%)

QoQ

9M

FY 19

9M

FY 20

Growth

(%)

a. Core Non Interest Income 660 867 605 648 -1.79 7.13 2009 1753 -12.74

b. Treasury Income 191 266 379 135 -29.30 -64.35 632 860 35.94

W/w

Profit on Sale of

Investments

110 188 292 82 -24.88 -71.79 385 630 63.51

Exchange Profit 81 78 87 53 -35.25 -39.33 247 230 -7.03

c. Recovery in Written off

Accounts244 138 158 328 34.45 106.85 561 631 12.39

Total 1095 1271 1143 1112 1.47 -2.76 3202 3243 1.27

21

Operating Profit

1810 1730

2240 2402


Operating Profit(Quarterly)(` crore)

5791

6528

9M FY 2019 9MFY 2020

Operating Profit (9 Months)

32.71% YoY

12.74% YoY

22

Provisions

(` crore)

ParametersDec-18 Mar-19 Sep-19 Dec-19

9M

FY19

9M

FY20(Q3) (Q4) (Q2) (Q3)

NPAs 2139 5783 3328 1570 5652 6329

Standard Assets 71 21 570 -255 116 217

Depreciation on Investment -551 -26 -91 265 -378 253

Shifting Loss 0 0 0 0 411 4

Restructured Advances 0 -102 -21 -26 -254 -22

Others (FITL etc) 18 91 74 265 134 416

Taxation -20 -667 -425 8 -312 -274

Total 1657 5100 3434 1827 5369 6923

23

Net Profit

153

-3370-1194

575


Net profit(Quarterly) (` crore)

422

-395

9M FY 2019 9MFY 2020

Net Profit(9M)

Dec-18 (Q3)

Mar-19 (Q4)

Sep-19 (Q2)

Dec-19 (Q3)

9M FY 19

9M FY20

49.6

55.3

44.7 43.4 46.544.7

Cost to Income(%)

24

Efficiency/Profitability Ratios

S.

No. Efficiency Parameters

Dec-18

(Q3)

Mar-19

(Q4)

Sep-19

(Q2)

Dec-19

(Q3)

9M

FY 2019

9M

FY 2020

1 Return on Equity* (%) 3.48 -71.21 -16.54 7.84 3.20 -1.79

2 Book Value Per Share 150.52 107.36 96.94 85.67 150.52 85.67

3 Earnings per share 5.24 -28.19 -27.08 9.82 4.81 -2.69

*Annualized

0.12

-2.71-0.87

0.41

0.11

-0.10

Dec-18 (Q3)

Mar-19 (Q4)

Sep-19 (Q2)

Dec-19 (Q3)

9M FY 19 9M FY20

Return on Avg. Assets (%)

25

Efficiency Ratios

Sn. Profitability Parameters Dec-18

(Q3)

Mar-19

(Q4)

Sep-19

(Q2)

Dec-19

(Q3)

9M

FY 19

9M

FY 20

1Business per

Branch` crore 167.71 172.7 179.68 182.30 167.71 182.30

2Business per

employee` crore 19.09 19.9 20.30 20.78 19.09 20.78

3Gross Profit per

Branch ` crore 1.69 1.6 2.09 2.24 1.80 2.03

4Gross Profit per

Employee` lacs 19.21 18.6 23.63 25.56 20.49 23.16

26

Asset Quality: Movement in Non Performing Assets

ParametersDec-18

(Q3)

Mar-19

(Q4)

Sep-19

(Q2)

Dec-19

(Q3)

9M

FY 19

9M

FY 20

Gross NPAs - Opening 50157 49713 48812 49850 49370 48729

Add : Additions 2983 3275 4219 5112 10302 12421

Less: Reductions 3427 4259 3181 5038 9959 11226

1. Recoveries 1287 762 624 2255 3747 3361

2. Up-gradation 510 650 679 582 1288 1549

3. Write Off 1630 2847 1878 2201 4924 6316

Gross NPAs- Closing 49713 48729 49850 49924 49713 49924

Gross NPA (%) 15.66 14.98 15.24 14.86 15.66 14.86

Net NPA 24142 20332 20791 21511 24142 21511

Net NPA (%) 8.27 6.85 6.98 6.99 8.27 6.99

Provision Coverage Ratio (%) 58.84 66.24 67.75 67.42 58.84 67.42

Tangible PCR (%) 51.44 58.27 58.29 56.91 51.44 56.91

Credit Cost (%) 2.69 7.20 4.11 1.89 2.39 2.55

(` crore)

27

Asset Quality: Sectoral

Sectors Slippages During

Q3 FY 20NPAs Dec 2019

Sectoral NPA %

Dec-18 Sep-19 Dec-19

Retail Loans 259 1641 2.23 2.76 2.64

Agriculture 714 5824 7.71 11.32 11.86

Micro & Small (MSE) 1121 7673 12.19 13.4 14.57

Medium & Large 3018 34786 26.22 23.6 22.74

Total 5112 49924 15.66 15.24 14.86

(` crore)

28

Asset Quality: Sectoral

Scheme

Standard as on Sep 2019 Standard as on Dec 2019

AccountAmount

(Rs. in crore)Account

Amount

(Rs. in crore)

5:25 10 2860 10 2860

SDR 1 0* 1 0

S4A 1 12 1 12

S.N. Sector # Outstanding NPA Std. Restructured NPA + Std. Restructured (%)

1 Infrastructure 52270 10214 922 21.30

a. Power 24503 5738 256 24.46

b. Roads 8731 2561 629 36.54

2 Iron & Steel 8873 3448 108 40.08

3 Textiles 7115 2121 34 30.29

*Account is Non-Fund Based

#Domestic

Particulars (percent to Gross Advances) Dec-18 Sep-19 Dec-19

Standard Restructured 0.36 0.50 0.62

Impaired Assets Ratio (GNPA + Standard Res) 16.00 15.70 15.47

Net Impaired Assets Ratio (NNPA + Standard Res) 7.96 6.9 7.01

29

Status of NCLT Accounts

RBI List 1 O/s

Rs. 4318 cr (7 A/c)

RBI List 2 O/s

Rs. 3390 cr (15 A/c)

Others - Admitted

Rs. 17477 cr (173 A/c)

Total

Rs. 25185 cr (195 A/c)

96%83%

68%75%

RBI List I RBI List II Others Total

PCR on NCLT Accounts

30

Basel III : Capital Adequacy

86.0 85.589.2 88.9

57.4 56.3 54.8 56.4


RWA Optimization

RWA to Advance RWA to Assets

9.02 9.4812.83 12.69

7.50 8.02

11.46 11.3511.43 11.78

15.14 14.71


CET-1 Tier I CRAR

31213 32796 44160 43961

Capital fundsRWA

272974 278344 291613 298802

Share Capital ` 3423 crore

No. of Equity Shares ` 342.28 crore

Net Worth ` 29324 crore

Market Cap ` 18757 crore

31

Shareholding Pattern

86.75%

1.38%

6.40%5.47%

December-19

Govt. of India

FIIs

DIIs

Public & others

32

# Domestic Branches (4,282) # ATMS (6686)

Extensive network across India

Overseas branches in Hong Kong, Sydney and Dubai, in addition to representative

office in Abu Dhabi

Operates in the UK through its wholly owned subsidiary, Union Bank of India (UK)

Ltd.

The Bank has 27 extension counters, 59 satellite offices and 48 service branches in

addition to its regular bank branches as of December 31,2019.

Branch Distribution by Urbanization

Branch Distribution by Geography

Geographical diversification minimizes regional risks

59% branches in rural/semi-urban markets

Maharashtra

(505) (1236)

Madhya Pradesh

(288) (486)

Andhra

Pradesh

(187) (209)

Assam

(69) (88)Bihar

(161) (171)

Delhi (95) (230)

Goa

(15) (7)

Gujarat

(270) (394)

Haryana

(110) (125)

Himachal Pradesh

(20) (24)

Jammu & Kashmir

(13) (15)

Jharkhand

(87) (96)

Karnataka

(164) (306)

Kerala

(251) (338)

Odisha

(136) (144)

Rajasthan

(144) (162)

Tamil

Nadu

(237) (380)

Uttarakhand (84) (120)

Uttar Pradesh

(934) (1354)

West Bengal

(185) (373)

Telangana

(82) (123)

Punjab

(140) (140)

Andaman &

Nicobar

(1) (1)

Arunachal Pradesh

(1) (1)

Chandigarh

(10) (20)

Dadra, Nagar

Haveli

(1) (2)

Daman & Diu

(1) (2)

Manipur

(1) (1)

Meghalaya

(5) (5)

Mizoram

(1) (2)

Nagaland

(1) (1)

Pondicherry

(4) (6)

Sikkim

(8) (7)

Tripura

(7) (10)

Extensive & specialized distribution network

RURAL29%

SEMI-URBAN

30%

URBAN20%

METRO21%

Central32%

Eastern13%

N. Eastern2%

Northern12%

Southern22%

Western19%

# Micro-ATMS (5586)

Table of Contents

33

Digital Banking4

Financials2

Group Entities5



34

Strategic Initiatives - Outcome

68

28

9277

Retail Agriculture LC & MSME Total

% of credit proposals underwritten at CPCs

Dec-19

Structural Development: Creation of Centralized Processing Centres (CPCs)

Centralization in credit appraisals

Particular

s

No of Units

(Mar-19)

No. of Units

(Dec-19)Sectors covered

ULP 74 75 Retail (Housing and Mortgage Loan)

USK 38 52 Retail, Agriculture and MSME

SARAL 45 48 MSME, Agriculture (selected segment)

MCB 24 23 Mid Corporate

IFB 8 7 Large Corporate

More than 75% of Credit Appraisal centralized

35

Strategic Initiatives –Outcome

Rated Advances - Lending to higher rated borrowers… Maintained rating profile of new retail loans sanctioned

5865

1516

2619

Mar-17 Dec-19

Rating Matrix of Outstanding Corporate Loans (> `5 crore)

A & Above BBB BB & Below

`142547 ` 171428

` in crore

20 21

17

28

63

51

FY 17 9MFY20

Retail CIBIL Rating Profile

750 & Above 700-750 Below 700

Table of Contents

36


Financials2

Group Entities5


Digital Banking4

Customer Delight – EASE of Banking

Mobile Banking Reinvented-New features added:

ATM GEO LOCATOR – provides real time status of

active ATMs within three different distance range, (0-

3km), (3-5km) and (5-10km).

QUICK FUNDS TRANSFER - allows a user to transfer

funds up to Rs5000/- per day within and outside bank

without registration of payee.

GREEN PIN GENERATION - Umobile app enables the

new as well as existing debit card holder to generate

Green PIN through Umobile app. Customer need not to

visit the ATM for generation of the same.

BBPS IN UMOBILE - BBPS facility allows customers to

fetch the outstanding amount of bill under various

categories of utility payments and allows for making

payments of the pending bill amount.

Other new highlights – Umobile App

assistance, Expense Manager, Demo Videos which

enhances the overall experience of customers by

providing customised services.

75.5

76

76.5

77

77.5

78

78.5

79

Mar-19 Jun-19 Sep-19 Dec-19

% of digital transactions

% of digital transactions

ENHANCING DIGITAL FOOTPRINTS

24*7 NEFT services made available for the

customers.

BHARAT QR made live for meeting the

requirements of Corporates as per provisions of

CBDT..

NETC FASTAGS made available to

customers, expanding the reach day by day.

Vast network of 6686 ATMs all across the

country covering rural, semi urban, urban and

metro areas for the convenience of the

customers.

Dedicated call centre at Mumbai and Bangaluru

for 24*7 customer support.

DEBIT CARD AUTOMATION – Real time

activation of Ready kit debit cards

thereby reducing the TAT from 48

hours to less than a second and

enhancing customer satisfaction.

1427323 134838 27056 56768 14551

SOCIAL MEDIA

TIE UPS

Digital Banking Initiatives

20% instant discounton movie ticketsbooked through BMSapp/website using ourdebit/credit cards

Discount offers on gift items to our debit & credit card holders

and internet banking users.

Discount offer onMakeMyTrip.com onDomestic flights &Hotel bookings usingour Bank‟s debit &credit cards.

Discount on medicinesFMCG and Apolloprivate label productsto our debit & creditcard holders on theApollo Pharmacy stores

Table of Contents

40


Financials2

Digital Banking4


Group Entities5

41

Details of Group Entities

Subsidiaries

Union Bank of India (UK) Limited

• Wholly owned subsidiary operating in UK

• Equity Investment – 649.33 crores

Bank‟s

ShareholdingParticulars 9MFY19 9MFY20

100%

Total Income 108.30 106.45

Net Profit/ (Loss) -35.44 -26.76

Total Assets 3370.06 3407.65

Capital & Reserves 672.12 697.99

Union Asset Management Co. Private Limited

• Wholly owned subsidiary

• Bank’s Equity Investment – 186.29 crores

• Dai-Ichi Life Holdings Inc, Japan invested

Rs. 133.43 Crore in Union AMC through

Compulsorily convertible preference shares

(CCPS) in May, 2018

• About Two Lac Folios

• Launched Mercury Series Mid and Small

Cap Fund (US$30 million) for Foreign

Portfolio Investors.

Bank‟s


100%


Net Profit/ (Loss) -0.89 2.34

Total Assets 187.09 195.84


Assets under

Management (AUM)4519.00 4229.00

(` crore)

42

Details of Group Entities

Subsidiaries

Union Trustee Co. Pvt. Limited

• Wholly owned subsidiary


Bank‟s


100%


Net Profit/ (Loss) 0.03 0.005

Total Assets 0.17 0.17


Joint Venture

Star Union Dai-ichi Life Insurance Co. Limited

• Joint venture with Bank of India and

Dai-ichi Life Holdings INC.


• Presence in 72 locations throughout India

• Since inception ,gross premium income is

Rs.14057 crore

Bank‟s


25.10%

Total Income 1621.44 2046.28

Net Profit/ (Loss) 54.73 32.94

Total Assets 7977.14 9517.04


Associates

Kashi Gomti Samyut Gramin Bank – Union Bank holds 35% shareholding

(` crore)

43

Except for the historical information contained herein, statements in this

presentation which contain words or phrases such as

“is”, “aims”, „will‟, „would‟, „indicating‟, „expected to‟ etc., and similar

expressions or variations of such expressions may constitute „forward-looking

statements‟. These forward-looking statements involve a number of

risks, uncertainties and other factors that could cause actual results to differ

materially from those suggested by the forward looking statements. These risks

and uncertainties include, but are not limited to our ability to successfully

implement our strategy, future levels of non-performing loans, our growth and

expansion in business, the impact of any acquisitions, the adequacy of our

allowance for credit losses, technological implementation and changes, the

actual growth in demand for banking products and services, investment

income, cash flow projections, our exposure to market risks as well as other

risks. Union Bank undertakes no obligation to update forward-looking statements

to reflect events or circumstances after the date thereof.

Disclaimer

44

Investor queries: [email protected]

Documents

FY 2015 Union Bank › pdf › Financial-Results...Financial Results Q3FY20/9MFY20 Please follow us on: @unionbankofindia @UnionBank Tweets UnionBankInsta UnionBankofIndiaUtube UnionBankofIndia