Mumbai, July 15: Union Bank of India reported a net profit of ₹5,332 crore for the quarter ended June 30, 2026 (Q1 FY27), marking a 29.57% year-on-year increase, driven by healthy loan growth and improved asset quality.
The bank’s board approved the financial results on Tuesday. Net interest income (NII) rose 10.15% YoY to ₹10,037 crore, while operating profit increased 15.83% to ₹8,003 crore. Interest income for the quarter stood at ₹27,203 crore.
Union Bank’s total business grew 7.46% year-on-year to ₹23.79 lakh crore, supported by a 12.50% rise in gross advances to ₹10.96 lakh crore. Global deposits increased 3.50% to ₹12.83 lakh crore, while retail, agriculture and MSME (RAM) advances expanded 11.56%, with MSME lending registering a strong 16.49% growth.
The bank also reported a further improvement in asset quality. Gross Non-Performing Assets (GNPA) declined to 2.65% from 3.52% a year earlier, while Net NPA improved to 0.47% from 0.62%. The Provision Coverage Ratio stood at 95.05%.
Capital adequacy remained strong, with the Capital Adequacy Ratio (CRAR) at 18.46% and CET-1 ratio improving to 16.38%. The bank also continued to expand its financial inclusion initiatives through PMJDY, insurance schemes, Atal Pension Yojana, women entrepreneurship and green financing programmes.
