Union Bank of India Q1 Results: Core income falls but asset quality remains stable
Published on 19/07/2025 01:42 PM
Union Bank of India Q1 Results: Core income falls but asset quality remains stableUnion Bank of India's net profit for the quarter increased by nearly 12% on a year-on-year basis to ₹4,115 crore. The lender had reported a net profit of ₹3,678 crore during the year-ago quarter. This is after other income being relatively unchanged from the same quarter last year.By Hormaz Fatakia July 19, 2025, 1:42:54 PM IST (Updated)2 Min ReadState-run Union Bank of India Ltd. reported results for the June quarter on Saturday, July 19, where its crore income declined year-on-year.
Net Interest Income (NII) for the period stood at ₹9,112 crore from ₹9,412 crore during the same quarter last year.
Net profit for the quarter increased by nearly 12% on a year-on-year basis to ₹4,115 crore. The lender had reported a net profit of ₹3,678 crore during the year-ago quarter.
Asset quality for the lender remained stable, with Gross NPA at 3.52% from 3.6% in March, while Net NPA remained nearly unchanged at 0.62% from 0.63% in March.
Provisions and contingencies at the end of the quarter stood at ₹1,664.5 crore, higher than the ₹1,543.9 crore reported at the end of the March quarter, but provisions for Non-Performing Assets (NPAs) declined to ₹1,152 crore from ₹1,675.7 crore in March.
Union Bank of India had already reported a weak business update with a 7% growth in gross advances, which was the weakest in the last four quarters, and also the fourth consecutive quarter of growth being in single digits.
Deposit growth also remained in single digits for the sixth quarter in a row, growing by just 3.6% from last year.
The lender had guided for loan growth to be between 11% and 13% during financial year 2025, but reported full-year growth of 8.6%, while deposit growth guidance was between 9% to 11%, with the actual number coming in at 7.2%.
Share of Union Bank of India had ended little changed on Friday at ₹146.5. The stock has risen 20% so far in 2025, having gained 5% in the last one month.Continue ReadingFirst Published: Jul 19, 2025 1:40 PM ISTCheck out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!Tagsshare market todayUnion Bank of IndiaUnion Bank of India shares