Union Bank of India Q1 Profit jumps 30% YoY

Union Bank of India, a public sector bank (PSB), announced on Wednesday, July 15, that its standalone profit for the April-June quarter of the current fiscal year (Q1FY27) increased by 29.6% year over year (YoY) to ₹5,332.30 crore. In the same quarter of the prior fiscal year, the lender made ₹4,115.53 crore.

The bank's total income for the June quarter rose by 1.3% YoY to ₹31,806.20 crore. In Q1FY26, its total income was ₹31,405.03 crore.

Union Bank of India's operating expenses declined by 0.80% YoY to ₹6,637.66 crore from ₹6,689.67 crore in the same quarter last year.

Operating profit for the quarter under review jumped nearly 16% YoY to ₹8,002.58 crore from ₹6,908.66 crore in the June quarter of the last financial year.

Its provisions and contingencies, other than taxes, declined to ₹979.42 crore in Q1FY27 from ₹1,664.51 crore in the corresponding quarter of the previous financial year, and ₹1,054.98 crore in Q4FY26.

Gross advances during the quarter increased by 12.50% YoY, while total deposit grew by 3.50% YoY, with total deposits base of ₹12,83,366 crore by the end of the June quarter. The bank said it had a total business of ₹23,79,697 crore as on 30 June 2026.

Gross NPA (%) reduced by 87 bps YoY to 2.65% and net NPA (%) reduced by 15 bps YoY to 0.47% as on 30 June this year.

The bank's return on assets (RoA) and return on equity (RoE) stood at 1.36% and 17.23%, respectively, during Q1FY27.

Net interest income (NII) increased by 10.15% YoY and 6.71% QoQ to ₹10,037 crore, while net interest margin (NIM) increased by 4 bps YoY and 16 bps QoQ to 2.80%.