Union Bank of India Q1 Report: Global Operations Increase by 8%, Deposits Grow by 4% Year-on-Year

State-owned lender Union Bank of India announced a 12.50% year-on-year rise in total gross advances, reaching ₹10.96 lakh crore as of June 30, 2026. Meanwhile, domestic current account and savings account (CASA) deposits climbed by 11.72% to ₹4.50 lakh crore.

Domestic advances experienced a 13.11% year-on-year growth, totaling ₹10.61 lakh crore, while retail, agriculture, and MSME (RAM) advances increased by 11.56% to ₹6.08 lakh crore. The bank’s global business amounted to ₹23.80 lakh crore, reflecting a 7.46% year-on-year increase, consisting of total deposits of ₹12.83 lakh crore and gross advances of ₹10.96 lakh crore.

Global deposits saw a year-on-year increase of 3.50%, totaling ₹12.83 lakh crore, while domestic deposits rose 3.49% to ₹12.83 lakh crore. Domestic CASA deposits remained at ₹4.50 lakh crore, with a CASA ratio of 35.10%, up from 32.51% a year earlier and down slightly from 35.21% in the previous quarter.

ALSO READ | Union Bank of India Q4 deposits rise to ₹13.06 lakh crore, CASA up 7.9%

The domestic credit-deposit ratio, excluding bank deposits, improved to 83.38%, compared to 76.24% a year earlier. When including bank deposits, the domestic credit-deposit ratio stood at 82.72%, versus 75.68% a year prior. The bank noted that these figures are provisional and subject to review.

Net profit for the period rose by 6.6% year-on-year to ₹5,316 crore, up from ₹4,985 crore last year. The Net Interest Income (NII) for the quarter declined by 1.1% compared to the same quarter last year, falling to ₹9,406 crore from ₹9,514 crore.

However, asset quality improved for the PSU Bank sequentially. Gross NPA decreased to 2.82% from 3.06% in December, while Net NPAs remained steady at 0.48%, down from 0.51% in December.

ALSO READ | Union Bank of India shares extend losses after Q4 results; Check revised analyst price targets

Provisions for the quarter saw a significant rise, increasing to ₹1,055 crore, representing a threefold jump from the ₹322 crore provision during the December period.

For the quarter, fresh slippages amounted to ₹2,023 crore, compared to ₹1,660 crore in the December quarter. Slippage addition reached ₹2,102 crore from ₹1,853 crore sequentially. Global advances for the quarter rose by nearly 10% year-on-year to ₹10.78 lakh crore, while global deposits increased by 2.7% to ₹13.06 lakh crore.

Union Bank of India Ltd shares closed at ₹174.40, a decrease of ₹0.45, or 0.26%, on the BSE.

ALSO READ | Union Bank CEO says margins have likely bottomed out, asset quality stable