Union Bank of India has posted a 4.49 per cent rise in net profit at Rs 150.04 crore (Rs 1.50 billion) for the third quarter ended December 31, 2003, compared to Rs 143.58 crore (Rs 1.43 billion) reported for the same period in the previous fiscal.

The board has approved a 20 per cent (Rs 2) interim dividend for the fiscal 2003-04 subject to nod from Reserve Bank of India, the bank informed the Bombay Stock Exchange on Monday.

Total income rose to Rs 1,344.01 crore (Rs 13.44 billion) in the quarter ended December 31, 2003, from Rs 1,281.33 crore (Rs 12.81 billion) in the corresponding period the previous fiscal, it added.