State-owned lender, Union Bank of India on July 19 reported a 11.87 percent on-year rise in its net profit to Rs 4,116 crore in the first quarter of the current financial year. However, on sequential basis, net profit 17.44 percent.
In April-June quarter, net interest income of the bank increased by 3.53 percent on-year to Rs 27,296 crore, from Rs 26,364 crore in a year ago period.
Non-interest income fell 0.52 percent on-year and 19.31 percent on-quarter in the April-June quarter. According to the press release, non-interest income stood at Rs 4,486 crore in Q1FY26, as compared to Rs 5,559 crore in a quarter ago period, and Rs 4,509 in a year ago period.
On the asset quality front, gross non-performing asset (NPA) ratio of the bank stood at 3.52 percent as on June 30, 2025, as compared to 3.60 percent as on March 31, 2025, and 4.54 percent as on June 30, 2024.
Net NPA ratio of the bank stood at 0.62 percent as on June 30, 2025, as compared to 0.63 percent in a quarter ago period and 0.90 percent in a year ago period.
Total Business of the Bank increased by 5.01 percent on-year, wherein gross advances increased by 6.83 percent on-year and total deposit grew by 3.63 percent on-year. Bank has a total Business of Rs 22,14,422 crore as on June 30, 2025, as per press release.
Global deposits of the bank increased by 3.63 percent on-year. In April-June quarter, bank total deposits base stood at Rs 12,39,933 crores as on June 30, 2025.
In April-June quarter, RAM sector grew by over 10 percent on back of strong growth in retail and MSME.
According to the press release, retail segment of the bank eode 25.63 percent on-year to Rs 2.29 lakh crore in April-June quarter.
MSME advances grew by 17.65 percent on-year to Rs 1.45 lakh crore as on June 30 2025.
Nitesh Ranjan, Exceutive Director of the bank during the post earnings press conference said that Retail, Agri and MSME (RAM) segments is expected to grow around 10-15 percent in the current financial year.
"RAM sector growth will continue to report the double digit in the range of 10 percent to 15 percent," Ranjan said during the post earnings press conference.
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