Union Bank of India Q1 Update: Global business up 8%, deposits rise 4% YoY

State-run lender Union Bank of India on Thursday (July 2) reported a 12.50% year-on-year increase in total gross advances to ₹10.96 lakh crore as of June 30, 2026, while domestic current account and savings account (CASA) deposits grew 11.72% to ₹4.50 lakh crore.

Domestic advances rose 13.11% year-on-year to ₹10.61 lakh crore, while domestic retail, agriculture and MSME (RAM) advances increased 11.56% to ₹6.08 lakh crore. The bank’s global business stood at ₹23.80 lakh crore, up 7.46% year-on-year, comprising total deposits of ₹12.83 lakh crore and gross advances of ₹10.96 lakh crore.

Global deposits increased 3.50% year-on-year to ₹12.83 lakh crore, while domestic deposits rose 3.49% to ₹12.83 lakh crore. Domestic CASA deposits stood at ₹4.50 lakh crore, with the CASA ratio at 35.10%, compared with 32.51% a year earlier and 35.21% in the previous quarter.

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The domestic credit-deposit ratio, excluding bank deposits, improved to 83.38% from 76.24% a year earlier. Including bank deposits, the domestic credit-deposit ratio stood at 82.72%, compared with 75.68% a year earlier. The bank said the figures are provisional and subject to review.

Net profit for the period increased by 6.6% year-on-year to ₹5,316 crore from ₹4,985 crore last year. Net Interest Income (NII) or core income for the quarter declined by 1.1% from the same quarter last year to ₹9,406 crore from ₹9,514 crore.

Asset quality, though, improved for the PSU Bank on a sequential basis. Gross NPA improved to 2.82% from 3.06% in December, while Net NPAs were steady at 0.48% from 0.51% in December.

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Provisions for the quarter have seen a substantial increase, rising to ₹1,055 crore, which is a 3x jump from the ₹322 crore provision figure during the December period.

For the quarter, fresh slippages stood at ₹2,023 crore from ₹1,660 crore in the December quarter. Slippage addition stood at ₹2,102 crore from ₹1,853 crore on a sequential basis. Global advances for the quarter increased by nearly 10% from last year to ₹10.78 lakh crore, while global deposits were up 2.7% to ₹13.06 lakh crore.

Shares of Union Bank of India Ltd ended at ₹174.40, down by ₹0.45, or 0.26%, on the BSE.

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