Union Bank of India Full Year 2024 Earnings: EPS: ₹19.15 (vs ₹12.45 in FY 2023)

Union Bank of India (NSE:UNIONBANK) Full Year 2024 Results

Key Financial Results

• Revenue: ₹480.1b (up 35% from FY 2023).
• Net income: ₹138.0b (up 62% from FY 2023).
• Profit margin: 29% (up from 24% in FY 2023). The increase in margin was driven by higher revenue.
• EPS: ₹19.15 (up from ₹12.45 in FY 2023).

UNIONBANK Banking Performance Indicators

• Net interest margin (NIM): 2.99% (up from 2.90% in FY 2023).
• Cost-to-income ratio: 46.4% (up from 46.3% in FY 2023).
• Non-performing loans: 9.11% (up from 7.98% in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Union Bank of India Earnings Insights

The primary driver behind last 12 months revenue was the Corporate / Wholesale Banking segment contributing a total revenue of ₹422.2b (88% of total revenue). The largest operating expense was General & Administrative costs, amounting to ₹190.0b (56% of total expenses). Explore how UNIONBANK's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 1.9% growth forecast for the Banks industry in India.

Performance of the Indian Banks industry.

The company's shares are down 7.0% from a week ago.

Valuation

Following the latest earnings results, Union Bank of India may be undervalued based on 6 different valuation benchmarks we assess. Click here to view our comprehensive analysis and gain insights into the stock's investment prospects.

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