Union Bank Q2 net up by 83%

Mumbai: Union Bank of India's net profit has soared to Rs 170 crore for the second quarter ended 30 September 2003, as compared to Rs 93 crore in the same period the previous year, a rise of 82.79 per cent.

The bank's operating profit grew to Rs 329 crore during this period (Rs 280 crore). Its interest income has risen to Rs 1,082 crore (Rs 1,056 crore). The total expenditure of the bank was at Rs 956 crore (Rs 899 crore).

For the half year ended 30 September, the bank's net profit grew by 57 per cent to touch Rs 325.75 crore as compared to Rs 207.27 crore in the previous year period. Treasury profits for the half-year were at Rs 138 crore (Rs 51 crore).