Union Bank of India Q1 net profit rises 29.6% to ₹5,332 crore
Union Bank of India reported a 29.6% increase in net profit to ₹5,332 crore for the first quarter of fiscal 2027. The growth was driven by higher net interest income and a reduction in non-performing assets.
Why it matters
The bank's improved financial performance and asset quality metrics indicate a positive trend for the Indian public sector banking industry.
Union Bank of India’s (UBI) net profit increased 29.57% to ₹5,332 crore as defaulting assets as a share of total loans reduced and net interest income increased in first quarter of fiscal 2027, compared with ₹4,116 crore in the year-ago period.
Net interest income increased 10.15% to ₹10,037 crore in the reporting quarter as against ₹9,113 crore in the corresponding period last year. Net interest margin increased a mild 4 basis points (bps) to 2.8% in the June quarter from 2.76%, on a year-on-year basis. The bank’s strategy will be to continue defending NIM, said Asheesh Pande, MD and CEO of UBI, speaking at the media briefing. A basis point is one-hundredth of a percentage point.
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