Sharekhan has come out with its first quarter (April-June’ 19) earnings estimates for the Banking & NBFC sector. The brokerage house expects Union Bank to report net profit at Rs. 11 crore down 91.2% year-on-year.
Net Interest Income (NII) is expected to decrease by 5.6 percent Y-o-Y (down 4.7 percent Q-o-Q) to Rs. 2480 crore, according to Sharekhan.
Pre Provision Profit (PPP) is likely to fall by 4.3% Y-o-Y (up 15.6 percent Q-o-Q) to Rs. 2,089 crore.
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