Union Bank of India recorded a consolidated net profit growth of 18.36% to Rs 3,328 crore in the March quarter, aided by reduced provisions. For FY23-24, the bank posted a consolidated net profit of Rs 13,797 crore. Standalone net profit rose to Rs 3,311 crore. Core net interest income surged by 14.38% to Rs 9,437 crore. Managing Director A Manimekhalai targets credit growth of 11-13% and deposit growth of 9-11% for FY25. Despite expectations of NIM decline to 2.8-3%, the bank eyes a gross NPA ratio below 4% by FY25-end. The bank’s capital adequacy stands strong at 16.97%.