Union Bank of India’s consolidated net profit rose 30.6 per cent year-on-year to ₹5,781 crore in the quarter ended September 30, 2026, from ₹4,425.95 crore, supported by higher net interest income and a sharp decline in provisions.
Net interest income, calculated as interest earned minus interest expended, increased 20.2 per cent to ₹10,765.32 crore from ₹8,957.92 crore.
Interest earned rose 8.3 per cent to ₹28,377.73 crore, while interest expenses increased at a slower 2.1 per cent to ₹17,612.41 crore.
Provisions fall nearly 50 per cent
Operating profit before provisions and contingencies increased 19.1 per cent to ₹8,150.96 crore from ₹6,844.79 crore.
Provisions and contingencies other than tax declined 49.6 per cent to ₹702.19 crore from ₹1,392.28 crore. However, provisions specifically for non-performing assets increased 15 per cent to ₹596.48 crore.
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Profit before tax rose 36.6 per cent to ₹7,448.77 crore. Tax expenses increased 60.4 per cent to ₹1,878.37 crore.
The bank’s share of profit from an associate rose 45.6 per cent to ₹210.60 crore. Basic and diluted earnings per share increased to ₹7.57 from ₹5.80.
Total income grew 5.4 per cent to ₹33,471.29 crore. Other income declined 8.2 per cent to ₹5,093.56 crore.
Total expenditure, excluding provisions and contingencies, increased 1.6 per cent to ₹25,320.33 crore.
Union Bank’s operating margin improved to 24.35 per cent from 21.55 per cent, while the net profit margin increased to 17.27 per cent from 13.94 per cent.
Advances grow faster than deposits
Consolidated advances rose 19.4 per cent year-on-year to ₹11,36,280.44 crore as of September 30, 2026, from ₹9,51,795.76 crore.
Deposits increased 6.9 per cent to ₹13,22,309.68 crore from ₹12,37,049.70 crore.
The consolidated capital adequacy ratio improved by 91 basis points to 18.61 per cent from 17.70 per cent. The common equity tier-1 ratio increased by 171 basis points to 16.72 per cent.
Net worth rose 14.6 per cent to ₹1,34,105.53 crore from ₹1,17,044.78 crore.
Corporate banking result nearly doubles
Revenue from corporate and wholesale banking increased 11.3 per cent to ₹12,451.29 crore. The segment result rose 98.2 per cent to ₹2,849.34 crore.
Retail banking revenue grew 9.7 per cent to ₹12,532.78 crore, while its segment result increased 56.2 per cent to ₹2,514.73 crore.
Treasury revenue declined 9.7 per cent to ₹6,886.53 crore. The segment result fell 20.4 per cent to ₹1,299.55 crore.
For the first half of FY27, consolidated net profit increased 29 per cent to ₹11,422.52 crore from ₹8,853.90 crore.