BSE Code: | NSE Code: | ISIN: | Sector:
Research Report Detail
|Report Date||Call||Price@Call||Target Price
|Current Status||Time Horizon|
|Target Hit|| Long (1Y)
Religare maintains sell on Union Bank of India
Gross non-performing loans increased to 8.7 per cent of advances as fresh slippages increased to Rs 6,200 crore in Q4 against Rs 3,400 crore in the December quarter. Management expects credit costs in FY17 to decline by 50 basis points on the back of strong recoveries. We expect Union Bank's profitability to remain weak due to mounting provisions and sustained pressure on asset quality and margins.