Union Bank of India has sold its entire stake of 5% comprising 12,50,000 shares in TransUnion CIBIL (TUCIBIL) to TransUnion International Inc (TUI). The deal was concluded on March 22, 2017 at the rate of Rs 1,525 per equity share for a total consideration amount of Rs 190.62 crore.
The Bank has reported 32.42% rise in its net profit at Rs 104.00 crore for third quarter ended December 31, 2016 as compared to Rs 78.54 crore for the same quarter in the previous year. Total income of the Bank increased by 8.95% at Rs 9589.45 crore for Q3FY17 as compared Rs 8802.06 crore for the corresponding quarter previous year.
The Bank’s gross NPA for the October-December quarter of the current fiscal increased to 11.70%, as compared to 7.05% in the same quarter of the previous year. Besides, Bank’s Net NPA stood at 6.95% in Q3FY17.