New Delhi [India], May 13 (ANI): State-owned Union Bank of India on Friday reported a standalone net profit of Rs 1,440 crore for the fourth quarter of 2021-22, posting a year-on-year increase of around 8 per cent.

The bank's total income rose to Rs 20,417.44 crore in the quarter ended March 2022 as compared to Rs 19,804.91 crore in the corresponding period of the previous year.

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The bank's Board of Directors on Friday recommended a dividend of Rs 1.90 per equity share (19 per cent) for the year ended March 31, 2022 subject to requisite approvals, Union Bank of India said in a regulatory filing to the stock exchanges.

The bank's gross NPA declined by 263 basis points to 11.11 per cent and Net NPA reduced by 94 basis points to 3.68 per cent as on March 31, 2022. (ANI)

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