Union Bank of India, India's one of the leading public sector Banks today declared results for fourth quarter ended March 31,2009.

The lender has registered a decline of 10.75% in its net profit to Rs 465.06 core for the fourth quarter ended March 31.

The bank had posted a net profit of Rs 521.13 crore in the same quarter ended March 2008.

However, the lender has witnessed a surge of 32% in its total income to Rs 3848.73 crore, compared with Rs 2913.10 crore in the previous year-ago quarter.

For the full year ended March 31, 2009, the bank has posted a net profit of Rs 1726.55 crore, up 24.47% as compared with Rs 1387.03 crore in the last fiscal.

In addition, bank’s total income also jumped by 26% to Rs 13371.93 crore in the year ended March 31, 2009, from Rs 10534.27 crore in the year 2008.

Apart from announcement of results, the Board of Directors of the Bank at its meeting has proposed dividend of 50 per cent i.e. Rs 5/- per share for the financial year 2008-09.