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Home News Union Bank Of India Rating Buy Performance In The Quarter Was Decent

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Union Bank of India rated Buy; performance in the quarter was decent

Monday, November 5, 2018, 9:34 AM

Q2FY19 core PPOP was in line, and it reported PAT of Rs 1.4 bn vs our forecast of a loss of Rs 1.6 bn, due mainly to lower provisioning (coverage was flat q-o-q). Like most corporate banks, core PPOP performance (up 15% y-o-y) is stabilising, and with improved pricing power PPOP growth of 10% for FY19F is possible.

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