Union Bank of India Sees Steady Profit Rise Despite Income Drop
Union Bank of India reported a 6.64% increase in profit for Q1 2026, reaching Rs 5,316 crore, despite a drop in total income and core income. The bank improved asset quality and proposed a Rs 5 dividend per share for FY 2025-26, pending shareholder approval. Shares fell by 6.42%.
- Country:
- India
Union Bank of India reported a 6.64% rise in standalone profit after tax to Rs 5,316 crore for the quarter ending March 2026. This comes despite a decline in net interest income by 1.14% year-on-year, dropping to Rs 9,406 crore.
Total income for the bank fell to Rs 31,851.15 crore compared to Rs 32,752.67 crore during the same period last year. Meanwhile, the bank's asset quality showed improvement, with Gross Non-Performing Assets reducing to 2.82% from 3.6% in the prior year. Net NPAs also saw a decrease from 0.63% to 0.48%.
The board has proposed a dividend of Rs 5 per equity share for the financial year 2025-26, subject to shareholder approval. Union Bank's stock declined 6.42% to Rs 182.2 on the BSE during afternoon trading.
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