Union Bank of India Q1 results: Public sector bank (PSB) Union Bank of India, on Wednesday, 15 July, reported a 29.6% year-on-year (YoY) rise in its stanbdalone profit to ₹5,332.30 crore for the April-June quarter of the current financial year (Q1FY27). The lender's profit was ₹4,115.53 crore in the corresponding quarter of the previous financial year.
Union Bank of India Q1FY27 key highlights
1. 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.
2. 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.
3. 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.
4. 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.
5. 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.
6. The bank's return on assets (RoA) and return on equity (RoE) stood at 1.36% and 17.23%, respectively, during Q1FY27.
7. 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%.
Union Bank of India shares traded 2.61% higher at ₹175 around 1 PM on the BSE on Wednesday.
Disclaimer: This article is for educational purposes only and does not constitute investment advice. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
