After BOB, This PSU Bank orders Staff to work on Sunday

Bank of Baroda has issued a circular directing employees to open branches on Sunday, August 3, 2025. After Bank of Baroda employees protested, another bank ordered them to open branches on August 3, 2025. 

 A directive issued by Union Bank of India directs employees to open branches on Sunday, August 3, 2025. Union Bank stated that the 20th installment under Pradhan Mantri Kisan Samman Nidhi is to be released from July 29 (Thursday) to August 3 (Sunday) in accordance with the communication received from the Ministry of Agriculture & Farmers Welfare, Government of India, via their letter D.O. No 9.3/2025-FWS-Part (4) dated July 29, 2025.

On Saturday, August 2, 2025, the Hon. Prime Minister of India has agreed to release the twentieth installment to the qualified PM KISAN Farmers. 

 The Ministry of Finance's Department of Financial Services has instructed the banks to maintain their branches open from July 29 to August 2, 2025, as well as on Sunday, August 3, 2025, to allow beneficiaries to be paid on the due date. 

 Through the aforementioned letter, the Ministry of Agriculture and Farmers Welfare and the Department of Agriculture & Farmers Welfare have communicated that the RBI's NEFT/RTGS platform will be operational on Sunday, August 3, 2025, to enable fund transfers from Accredited Bank to Sponsor Banks and fund settlements within Banks.

In view of the above directions, the Union Bank has released instructed that all the Branches to be kept open for public on 3rd August 2025 (Sunday).

While keeping the Branches open Regional Offices should ensure that sufficient number of staff is present in the Branches and take prior permission from DIT for SOL opening on that day.

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Union Bank of India Q1 Results: PAT rises 12%

 

The Mumbai-based lender had earned a net profit of ₹3,679 crore in the same quarter of the previous fiscal year.

The total income rose to ₹31,791 crore during the June 2025 quarter from ₹30,874 crore in the year-ago period, Union Bank of India said in a regulatory filing.

The bank's interest income increased to ₹27,296 crore from ₹26,364 crore during the FY25 June quarter. However, compared to ₹9,412 crore in the same period last year, net interest income decreased to ₹9,113 crore during the quarter. 

 In addition, the bank's operating profit decreased by 11% from ₹7,785 crore to ₹6,909 crore in the same quarter of the previous fiscal year. Gross non-performing assets (NPAs) decreased from 4.54% of gross advances at the end of the June quarter to 3.52% at the end of the June quarter, indicating an improvement in the bank's asset quality. 

 By the end of June 2024, its gross advance had risen 6.83% to ₹9,74,489 crore from ₹9,12,214 crore. Likewise, its net non-performing assets (NPAs), or bad loans, decreased to 0.62% from 0.90% during the same time last year.

Consequently, bad loan provisions decreased from ₹1,651 crore in the first quarter of last year to ₹1,153 crore in the first quarter. The Provision Coverage Ratio (PCR) increased by 116 basis points, from 93.49% to 94.65%. 

 Meanwhile, according to the lender, Return on Assets (ROA) improved by 5 basis points, from 1.06% in June 2024 to 1.11% in June 2025. The bank's capital adequacy ratio increased from 17.02% in the same quarter of FY25 to 18.3%. By the end of June 2024, the total business had grown from ₹21,08,762 crore to ₹22,14,422 crore, a 5% increase.

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RBI imposed penalty of Rs.63.60 lakh on PSU Bank

Union Bank of India was hit with a ₹63.60 lakh fine by the Reserve Bank of India (RBI) for not meeting certain regulatory standards. The May 23, 2025, penalty order lists non-compliance with RBI's rules on collateral-free agricultural loans as well as violations of Section 26A of the Banking Regulation Act, 1949. 

The decision comes after the RBI examined Union Bank's financial situation as of March 31 in 2023 and 2024 as part of its regular inspections under the Statutory Inspections for Supervisory Evaluation (ISE) program. 

Two significant infractions were found during the inspections: 

Delay in Transfer of Depositor Education and Awareness Fund: 

The bank did not make the required timely transfer of eligible unclaimed funds to the Depositor Education and Awareness (DEA) Fund.

Based on these findings, the RBI issued a show-cause notice to the bank, asking it to explain why a penalty should not be imposed. After reviewing the bank’s written response and oral submissions during a hearing, the RBI concluded that the violations were valid and warranted financial penalties.

The RBI emphasized that the penalty is strictly related to regulatory compliance shortcomings and does not question the legality or validity of the bank’s agreements with its customers. It also noted that this action is without prejudice to any further actions that may be taken in the future.

This enforcement reflects RBI’s ongoing commitment to ensuring banks adhere strictly to rules, particularly those aimed at protecting depositors and supporting priority sectors like agriculture.

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Union Bank Of India Q4 Results: Profit Beats Estimates, Asset Quality Improves

 

Union Bank of India reported a rise in its standalone net profit in the fourth quarter of financial year 2024-25, beating estimates.

The bottomline of the public sector bank jumped 50.6% to Rs 4,985 crore in the January-March period, compared to Rs 3,310 crore in the year-ago period, according to a stock exchange filing on Thursday. The analysts' consensus estimates compiled by Bloomberg projected Rs 4,320.6 crore.

Net interest income rose 1% to Rs 9,514 crore versus Rs 9,437 crore last year. The Bloomberg estimate was Rs 9,373 crore.

Union Bank of India demonstrated an improvement in asset quality on a sequential basis, with gross non-performing assets ratio decreasing to 3.6% from 3.85% quarter-on-quarter, and net NPA ratio also declining to 0.63% from 0.82%.

The bank's operating profitability showed strong growth, increasing by 17.9% to Rs 7,700 crore compared to Rs 6,533 crore.

Provisions saw an increase of 22.6% year-on-year, rising to Rs 1,544 crore from Rs 1,260 crore. However, on a sequential basis, provisions saw a slight decrease of 3.4%, down to Rs 1,544 crore from Rs 1,599 crore.

The board has recommended a dividend of Rs 4.75 per equity share for fiscal 2025, subject to obtaining the necessary statutory approvals and the approval of the shareholders at the ensuing annual general meeting.

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Union Bank of India Q3 Net profit jumps 28%

On Monday, January 27, the state-owned Union Bank of India said that its net profit for the third quarter, which ended on December 31, 2024, increased 28.2% year over year (YoY) to Rs.4,603.6 crore.

 According to a regulatory filing, Union Bank of India reported a net profit of Rs.3,589.9 crore for the same quarter of the previous fiscal year. The difference between a bank's interest revenue from lending and the interest it pays depositors is known as net interest income (NII), and it rose by 0.8% to Rs.9,240.2 crore from Rs.9,168 crore in the same quarter of FY24.

In the December quarter, the gross non-performing asset (GNPA) was 3.85%, compared to 4.36% in the September quarter. Net NPA was 0.82%, down from 0.98% in the previous quarter. Monetary-wise, net non-performing assets (NPA) were Rs.7,568.4 crore compared to Rs.8,758.6 crore, while gross NPA was Rs.36,554.3 crore compared to Rs.40,498.9 crore. 

Also Read - Quarterly Financial Results of Public & Private sector banks for Q3FY25

Provisions were Rs.1,599.1 crore as opposed to Rs.1,712.2 crore for the quarter and Rs.1,747.8 crore for the quarter. As of December 31, 2024, Union Bank of India's global deposits have increased by 3.76% year over year to Rs.12,16,562 crore. With gross advances rising 5.94% year over year, the bank's whole business rose by 4.70%, contributing to a total business size of Rs.21,65,726 crore.

The RAM (Retail, Agriculture, and MSME) segment witnessed a robust 9.26% year-on-year growth, driven by a 16.36% rise in retail advances, a 4.34% increase in agriculture loans, and a 6.34% uptick in MSME advances. RAM advances now constitute 56.69% of the bank's domestic advances.

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Union Bank of India Q2 Net profit jumps 34%

Public sector lender Union Bank of India (UBI) reported a significant 34% year-on-year increase in consolidated net profit for the second quarter of FY2025, reaching ₹4,720 crore, compared to ₹3,511 crore in the same quarter last year.

This profit surge was primarily supported by a reduction in provisions and contingencies. The bottom line rose 28% sequentially.

NII declined marginally by 0.9% to ₹9,047 crore from ₹9,126 crore a year ago, as interest expenses rose slightly during the quarter. Despite this, total income remained steady, supported by a healthy contribution from non-interest income sources and recovery from written-off accounts.

The bank’s asset quality continued to improve during the quarter. The gross non-performing assets (NPA) ratio fell to 4.36% as of September 2024, down from 4.54% in the previous quarter, and showing a sharper decline from 6.38% in Q2 FY2024.

Similarly, the net NPA ratio was recorded at 0.98%, up from 0.90% in the previous quarter, but a good improvement from 1.30% in the same quarter last year.

Additionally, Union Bank of India maintained a provision coverage ratio (PCR) of 92.79%, ensuring adequate coverage for potential defaults. The bank’s capital adequacy ratio under Basel III guidelines stood at 17.13%, comfortably above regulatory requirements.

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Union Bank of India Q1 profit rises 13.7%

Union Bank of India on July 19 reported a 13.68 percent on-year rise in its profit after tax to Rs 3,679 crore in the first quarter of the current financial year.

On sequential basis, net profit rises 11.11 percent.

Gross non-performing assets (NPA) ratio of the banks reduced to 4.54 percent as on June 30, as compared to 4.76 percent in a quarter ago period and 7.34 percent in a year ago period.

Net NPA ratio of the lender eased to 0.90 percent as on June 30, as against 1.03 percent in a quarter ago period and 1.58 percent in a year ago period.

In the reporting quarter, provision coverage ratio of the bank stood at 93.49 percent as in June 30, as compared to 92.69 percent as on March 31, and 90.86 percent as on June 30, 2023.

In April-June, interest income of the lender stood at Rs 26,364 crore, which was up 12.29 percent on a yearly basis. It stood at Rs 23,478 crore in a year ago period.

Total deposit of Union Bank of India stood at Rs 12.24 lakh crore as on June 30, 2024, as against Rs 11.28 lakh crore as on June 30, 2023.

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Union Bank of India Q4 Results: PAT Jumps 19%; NII Up 14%; Dividend Declare

 

Union Bank of India reported a 19 per cent year-on-year (yoy) increase in fourth quarter standalone net profit at ₹3,310.55 crore, supported by growth in net interest income (NII) and sharp decline in loan loss provisions

The public sector bank had reported a net profit of ₹2,782 crore in the year-ago quarter.

Its board has recommended a dividend of ₹ 3.60 per equity share of ₹ 10 each for FY24.

Net interest income/NII (difference between interest earned and interest expended) rose 14 per cent yoy to ₹9,437 crore (₹8,251 crore in Q4FY23).

Total non-interest income, comprising fee income (loan processing charges, miscellaneous fee income, etc), forex income, profit or loss on sale/revaluation of investments, etc, declined 11 per cent to ₹4,707 crore (₹5,269 crore).

Loan-loss provisions declined 58 per cent to ₹1,485 crore (₹3,567 crore).

Asset quality improved, with gross non-performing assets (NPAs) declining to 4.76 per cent of gross advances as at March-end 2024 against 4.83 per cent as at December-end 2023. NNPAs nudged lower to 1.03 per cent of net advances from 1.08 per cent.

As on March-end 2024, gross advances increased by 14.29 per cent yoy to ₹8,70,776 crore. Total deposits rose 9.28 per cent to ₹12,21,528 crore.

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