New Delhi: State-owned Union Bank of India declared its audited financial results on Saturday. The bank's net profit rose from Rs 5,23,210 lakhs in FY22 to Rs 8,43,327 lakhs in FY23, registering a growth of 61.18 percent on y-o-y basis. On q-o-q basis, the bank's net profit increased from Rs 2,24,480 lakhs to Rs 2,78,231 lakhs, registering a growth of approximately 24 percent.

The bank's capital adequacy ratio also increased from 14.52 percent in FY22 to 16.04 percent on y-o-y basis. The ratio also increased on q-o-q basis from 14.45 percent in Q3FY23 to 16.04 percent in Q4FY23. Its operating profit also increased from Rs 21,87,321 lakhs to Rs 25,46,716 lakhs on y-o-y basis while the operating profit increased from Rs 6,61,915 lakhs to Rs 6,82,336 lakhs on q-o-q basis.

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