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Union Bank Q2 FY27 provisional gross advances rise 18.53% YoY to ₹11.56 lakh cr
Union Bank of India reported its provisional operational figures for the quarter ended September 30, 2026, showing global gross advances grew 18.53% YoY to ₹11,55,930 crore. Total deposits grew slower at 6.87% YoY to ₹13,19,457 crore, driven by a 14.66% YoY increase in domestic CASA deposits to ₹4,60,697 crore (34.93% share). Domestic RAM (Retail, Agri, MSME) advances increased 14.65% YoY to ₹6,35,527 crore. With advances significantly outpacing deposit growth, the domestic Credit-to-Deposit (C/D) ratio expanded by 733 bps YoY to 84.34%.
Confidence: HIGH
What changedUnion Bank disclosed provisional business updates for Q2 FY27, reporting strong double-digit loan growth alongside moderate deposit expansion.
Why it mattersGross loan growth of 18.5% exceeds the bank's long-term target of 9-10%, but deposit growth lags at 6.9%, driving the C/D ratio well above management's target band of 78.5-80%.
Gross Advances: ₹11,55,930 croreGross Advances YoY Growth: 18.53%Total Deposits: ₹13,19,457 croreDomestic CASA Deposits: ₹4,60,697 croreDomestic C/D Ratio (excl. bank deposits): 84.34%
📅 Short termMarket reaction is likely to be supportive of robust credit momentum, though investors will eye deposit mobilization pressures heading into the formal quarterly results.
📈 Long termConsistent double-digit expansion in RAM advances supports the bank's granular loan strategy, although sustaining loan growth will require re-accelerating deposit accretion to balance the C/D ratio.
⚠ Risk flags
- Loan-to-deposit growth divergence pushing C/D ratio to 84.34% (above target range of 78.5-80%)
- Potential upward pressure on cost of funds to mobilize deposits
Key Highlights
Gross advances grew 18.53% YoY and 5.44% QoQ to ₹11,55,930 crore
Total deposits increased 6.87% YoY and 2.81% QoQ to ₹13,19,457 crore
Domestic CASA deposits rose 14.66% YoY to ₹4,60,697 crore, bringing CASA ratio to 34.93%
Domestic RAM advances expanded 14.65% YoY to ₹6,35,527 crore
Domestic C/D ratio (excluding bank deposits) increased by 733 bps YoY to 84.34%
👀 What to Watch
Track the full Q2 FY27 earnings release for Net Interest Margins (NIM) and asset quality metrics, especially watching whether the elevated C/D ratio (84.34%) creates pressure on funding costs.
Union Bank Raises US$ 600 Million via Dual-Tranche Senior Notes via DIFC Branch
Union Bank of India has issued US$ 600 million in dual-tranche Senior Unsecured Notes through its DIFC Branch on August 28, 2026. The first tranche consists of US$ 300 million due in 2029 carrying a fixed coupon of 5.230% per annum, allocated to 98 allottees. The second tranche is US$ 300 million due in 2031 with a fixed coupon of 5.417% per annum, allocated to 119 allottees. Both tranches will be listed on NSE IFSC Limited, with semi-annual coupon payments commencing February 28, 2027.
Confidence: HIGH
What changedUnion Bank successfully priced and issued US$ 600 million in overseas dual-tranche debt notes maturing in 2029 and 2031.
Why it mattersProvides medium-term foreign currency resources at competitive yields (5.230% and 5.417%) to support overseas operations and foreign currency lending.
Total Issue Size: US$ 600,000,0002029 Tranche Coupon: 5.230%2031 Tranche Coupon: 5.417%Issue Date: 28 August 2026First Coupon Payment Date: 28 February 2027
📅 Short termReflects healthy institutional demand and access to international capital markets without immediate pressure on domestic liquidity.
📈 Long termDiversifies the bank's liability profile and supports sustained growth across corporate and international banking portfolios.
⚠ Risk flags
- Foreign exchange rate fluctuations and refinancing risks upon maturity in 2029 and 2031
Key Highlights
Issued US$ 300,000,000 of 5.230% Senior Unsecured Notes maturing on August 28, 2029
Issued US$ 300,000,000 of 5.417% Senior Unsecured Notes maturing on August 28, 2031
Total capital raised stands at US$ 600 million across 98 and 119 allottees, respectively
Notes issued under Reg S via the DIFC branch and will be listed on NSE IFSC Limited
👀 What to Watch
Track the bank's overseas loan book deployment, credit spreads, and net interest margin (NIM) trends in upcoming quarterly updates.
Fitch Assigns 'BBB-' Rating to Union Bank's $600 Million Senior Unsecured Notes
Fitch Ratings has assigned a final 'BBB-' long-term issue rating to Union Bank of India's USD 600 million senior unsecured notes issued via its Dubai International Financial Centre (DIFC) branch. The issuance is divided into two USD 300 million tranches: a 3-year note due August 2029 with a 5.230% coupon and a 5-year note due August 2031 with a 5.417% coupon. The rating is equalised with India's sovereign rating (BBB-/Stable), reflecting high state support expectations backed by the Government of India's ~75% ownership.
Confidence: HIGH
What changedFitch assigned final 'BBB-' investment-grade ratings to USD 600 million notes after completion of the issue, matching expected ratings from August 20, 2026.
Why it mattersEnables the bank to access international capital markets with sovereign-backed investment-grade pricing to support overseas funding requirements.
Total Issue Size: USD 600 million3-Year Tranche Coupon: 5.230%5-Year Tranche Coupon: 5.417%Issue Rating: BBB-
📅 Short termNeutral impact as the final rating confirms the expected rating already priced into the bond issuance.
📈 Long termValidates the bank's stable credit profile and ability to raise competitive foreign currency resources.
⚠ Risk flags
- Foreign exchange risk on overseas liabilities, governed by interest rate movements in international markets
Key Highlights
Assigned final 'BBB-' rating by Fitch for USD 600 million senior unsecured notes issued via DIFC branch
USD 300 million 3-year notes priced at 5.230% coupon maturing August 2029 (ISIN: XS3485474533)
USD 300 million 5-year notes priced at 5.417% coupon maturing August 2031 (ISIN: XS3485474707)
Rating is equalised with Indian sovereign IDR (BBB-/Stable) supported by 74.76% promoter holding
👀 What to Watch
Track the deployment of foreign currency funds into overseas asset growth and monitor the bank's net interest margins across domestic and international operations.
Union Bank of India Raises $600 Million via Dual-Tranche Senior Unsecured Notes at DIFC Branch
Union Bank of India announced the issuance of US$ 600 million Senior Unsecured Dual Tranche Notes through its Dubai International Financial Centre (DIFC) Branch. The issue is split into two equal tranches of US$ 300 million each, with 3-year (due 2029 at 5.230%) and 5-year (due 2031 at 5.417%) maturities. The proceeds will be utilized for funding DIFC branch requirements, business expansion, and general corporate purposes. The notes will be listed on NSE IFSC Limited with expected ratings of BBB/BBB- by S&P and Fitch.
Confidence: HIGH
What changedUnion Bank of India issued US$ 600 million in medium-term senior unsecured notes through its DIFC Dubai Branch.
Why it mattersProvides foreign currency liquidity to scale its international operations and diversify liabilities at fixed competitive borrowing rates (5.230% and 5.417%).
Total Issue Size: US$ 600,000,0003-Year Tranche Coupon: 5.230%5-Year Tranche Coupon: 5.417%Allotment Date: 28 August 2026
📅 Short termSettlement and allotment completion on 28 August 2026; neutral to mildly positive for market sentiment as standard debt fundraising.
📈 Long termStrengthens the bank's international presence and liability diversification without diluting equity capital.
⚠ Risk flags
- Interest rate and foreign exchange risk management at the overseas branch level
- Unsecured debt obligations subject to macroeconomic/global credit conditions
Key Highlights
Total issue size of US$ 600,000,000 across two tranches of US$ 300,000,000 each
Tranche 1: 3-year tenure maturing 28 August 2029 at 5.230% semi-annual coupon
Tranche 2: 5-year tenure maturing 28 August 2031 at 5.417% semi-annual coupon
Allotment scheduled for 28 August 2026 with proposed listing on NSE IFSC Limited
Expected international credit ratings of BBB (S&P Global) and BBB- (Fitch)
👀 What to Watch
Track the successful settlement on 28 August 2026 and monitor the deployment of foreign currency funds into overseas asset growth and margin spreads in upcoming quarterly disclosures.
S&P Assigns 'BBB' Rating to Union Bank of India's Proposed US$ Senior Unsecured Notes
Union Bank of India announced that S&P Global Ratings has assigned a 'BBB' long-term issue rating to its proposed U.S. dollar-denominated senior unsecured notes on August 21, 2026. The notes will be issued through the bank's Dubai International Financial Centre (DIFC) branch. The assigned issue rating is at par with Union Bank's long-term issuer credit rating of 'BBB/Stable/A-2'. Issue quantum and pricing terms were not disclosed in the filing.
Confidence: HIGH
What changedS&P Global Ratings assigned a new 'BBB' rating to proposed USD-denominated senior notes to be issued via UBI's DIFC branch.
Why it mattersEnables the bank to tap international debt capital markets to diversify funding sources and support overseas loan asset growth.
Issue Rating Assigned: BBBIssuer Credit Rating: BBB/Stable/A-2Rating Date: August 21, 2026Proposed Issue Quantum: not disclosed
📅 Short termNeutral; this is an administrative rating intimation ahead of an overseas bond issue. Minimal direct impact on near-term share price.
📈 Long termProvides access to foreign currency liquidity to support international operations and wholesale banking needs at competitive borrowing costs.
⚠ Risk flags
- Foreign exchange and global interest rate exposure on USD-denominated borrowings
- Issue size and pricing terms are yet to be disclosed
Key Highlights
S&P Global Ratings assigned a 'BBB' rating to proposed US$ senior unsecured notes on August 21, 2026
Notes are to be issued via the bank's Dubai International Financial Centre (DIFC) branch
The issue rating is equal to Union Bank's long-term issuer credit rating of 'BBB/Stable/A-2'
The notes constitute direct, unconditional, unsubordinated, and senior obligations of the bank
👀 What to Watch
Track subsequent filings for the final issue size, coupon pricing, and settlement date of the proposed foreign currency notes.
S&P Global Assigns 'BBB' Rating to Union Bank's Proposed USD Senior Notes
Union Bank of India announced that S&P Global Ratings has assigned a 'BBB' long-term issue rating to proposed U.S. dollar-denominated senior unsecured notes. The notes are to be issued via the bank's Dubai International Financial Centre (DIFC) branch. The assigned rating is equal to Union Bank's long-term issuer credit rating of 'BBB/Stable/A-2'. The total issue size and pricing terms were not disclosed in the filing.
Confidence: HIGH
What changedS&P assigned a standalone 'BBB' rating for the proposed offshore foreign-currency debt issuance by Union Bank's Dubai (DIFC) branch.
Why it mattersObtaining an investment-grade rating equal to its sovereign/issuer rating allows Union Bank to access international debt capital markets at competitive borrowing costs.
Assigned Issue Rating: BBBIssuer Credit Rating: BBB/Stable/A-2Issuance Size: not disclosedRating Date: 2026-08-21
📅 Short termNeutral; establishes the credit benchmark enabling the bank to launch and market the USD note issuance to global institutional investors.
📈 Long termDiversifies the bank's liability mix and supports the funding profile of its overseas banking operations at DIFC.
⚠ Risk flags
- Foreign exchange and interest rate risks associated with overseas debt issuances.
- Final terms subject to market reception and execution documentation.
Key Highlights
S&P Global Ratings assigned a 'BBB' long-term issue rating on August 21, 2026.
The rating applies to proposed U.S. dollar-denominated senior unsecured notes issued via the DIFC branch.
Rating is equal to Union Bank of India's long-term issuer credit rating of 'BBB/Stable/A-2'.
Notes will constitute direct, unconditional, unsubordinated, unsecured, and senior obligations.
👀 What to Watch
Track the upcoming pricing, total quantum, and coupon rate of the proposed USD senior note issuance, as well as subsequent deployment into international loan books.
USD 2.00 Billion Debt Fundraise Approved via Medium Term Note Programme
Union Bank of India's board has approved a significant capital raising plan of USD 2.00 billion (approximately ₹16,600 crore) through a Medium Term Note (MTN) programme. The debt instruments will be issued in tranches via the bank's international branches in Dubai and/or Sydney. This fundraise represents approximately 12.9% of the bank's reported net worth of ₹1,28,575 crore. The move is aimed at strengthening the bank's foreign currency liquidity and supporting its international lending operations.
Confidence: HIGH
What changedThe bank has transitioned from planning to formal board approval for a large-scale international debt issuance program.
Why it mattersThis provides the bank with diversified, long-term foreign currency funding, reducing reliance on domestic deposits and supporting its 9-10% growth target by funding international RAM and corporate sectors.
Fundraise Amount: USD 2.00 BillionApprox. Value in INR: ₹16,600 CrFundraise vs Net Worth: ~12.9%Fundraise vs Market Cap: ~12.6%Current Branches: 8,655
📅 Short termThe announcement is likely to be viewed positively by the market as it demonstrates the bank's ability to access international capital markets for growth.
📈 Long termStructurally positive as it helps the bank maintain its position as a top-five PSU bank by diversifying its liability profile and supporting international asset growth.
⚠ Risk flags
- Exchange rate volatility affecting repayment obligations
- Interest rate risk on foreign currency debt
- Global regulatory compliance across Dubai and Sydney jurisdictions
Key Highlights
Approved raising USD 2.00 Billion through a Medium Term Note (MTN) Programme in multiple tranches.
Issuance will be executed through the bank's Dubai and/or Sydney branches.
The fundraise amount is equivalent to ~12.9% of the bank's Net Worth of ₹1,28,575 Cr.
The board meeting concluded at 05.25 P.M. on July 30, 2026, following a 1 hour 40 minute session.
👀 What to Watch
Investors should monitor the coupon rates and credit ratings assigned to specific tranches as they are issued, as these will impact the bank's cost of funds and Net Interest Margins (NIM).
Union Bank Q1 FY27: CD Ratio rises to 86%, CASA+RTD average up by ₹41,000 Cr
Union Bank of India reported a significant operational shift in its Q1 FY27 earnings call, with the Credit-Deposit (CD) ratio increasing to 85-86% from 74% in March 2025. The bank is prioritizing granular growth, adding an average of ₹41,000 Cr in CASA and Retail Term Deposits while shedding ₹18,000-20,000 Cr of high-cost bulk deposits to protect margins. Management maintained a steady Return on Assets (ROA) of 1.36% for the third consecutive quarter and reduced the cost-to-income ratio by 500 basis points. Capital adequacy remains robust at 18.46%, providing a strong buffer for its ₹60,000-70,000 Cr underwriting pipeline.
Confidence: HIGH
What changedThe bank has transitioned to a much higher credit utilization level (CD ratio up ~1,200 bps) and restructured its sourcing through a dedicated 1,200-person ecosystem banking vertical.
Why it mattersThe shift from bulk deposits to retail/CASA and the improvement in the CD ratio are structural moves to defend Net Interest Margins (NIM) and improve ROA sustainability in a disruptive global environment.
CD Ratio: 86%CASA + RTD Avg Increase: ₹41,000 CrBulk Deposits Shed: ₹18,000 - 20,000 CrCapital Adequacy Ratio: 18.46%Return on Assets (ROA): 1.36%Liquidity Coverage Ratio (LCR): 121%
📅 Short termThe focus on granular deposits and cost reduction is likely to support margins in the coming weeks, though the high CD ratio may limit aggressive near-term loan growth.
📈 Long termThe bank's 'five pillars' strategy and digital transformation (Project Muskaan) aim for a sustainable 9-10% growth rate and improved asset quality through RAM sector focus.
⚠ Risk flags
- High CD ratio (86%) may limit lending headroom without aggressive deposit mobilization
- Potential NIM compression if interest rate cycles turn
Key Highlights
CD Ratio increased significantly to 85-86% from approximately 74% in the previous year
Average CASA and Retail Term Deposits (RTD) grew by ₹41,000 Cr during the quarter
Strategically shed ₹18,000 to ₹20,000 Cr of high-cost bulk deposits to improve efficiency
Maintained a consistent Return on Assets (ROA) of 1.36% over the last three quarters
Underwritten credit pipeline stands at ₹60,000 to ₹70,000 Cr, currently being down-sold
👀 What to Watch
Investors should monitor the sustainability of the 86% CD ratio and the effectiveness of the new 'Ecosystem Banking' vertical in maintaining CASA growth amidst competitive deposit pricing.
Union Bank Q1 FY27: Net Profit up 29.5% to ₹5,332 Cr; Asset Quality Improves (GNPA 2.65%)
Union Bank reported a strong Q1 FY27 with Net Profit growing 29.5% YoY to ₹5,332 Cr, which accounts for approximately 28% of its TTM PAT. Asset quality showed significant improvement, with Gross NPA falling to 2.65% from 3.52% a year ago and Net NPA reaching a low of 0.47%. While global advances grew by 12.5% YoY, deposit growth was notably slower at 3.5%, leading to a domestic Credit-to-Deposit ratio of 83.38%. Profitability metrics remained robust with a Return on Assets (RoA) of 1.36% and a Net Interest Margin (NIM) of 2.80%.
Confidence: HIGH
What changedThe bank reported its Q1 FY27 financial results, demonstrating double-digit growth in profits and NII alongside a sharp reduction in bad loans and improved return ratios.
Why it mattersThe bank is successfully transitioning to a more profitable balance sheet with NNPA below 0.5% and RoA above 1.3%, indicating that the legacy asset quality issues of this PSU major are largely resolved.
Net Profit (Q1 FY27): ₹5,332 CrNet Profit vs TTM PAT: ~28.1%GNPA Ratio: 2.65%NNPA Ratio: 0.47%Deposit Growth (YoY): 3.50%Credit Growth (YoY): 12.50%
📅 Short termPositive sentiment is expected in the short term as the bank beat its previous year's performance on both profitability and asset quality fronts.
📈 Long termStructural improvement in RoE (17.23%) and a granular RAM focus (57% of domestic advances) positions the bank well for sustainable long-term growth, provided deposit mobilization improves.
⚠ Risk flags
- Significant gap between credit growth (12.5%) and deposit growth (3.5%)
- High domestic Credit-to-Deposit ratio of 83.38%
- Potential NIM compression if deposit costs rise to attract more funds
Key Highlights
Net Profit increased by 29.54% YoY to ₹5,332 Cr for the quarter ended June 2026
Gross NPA (GNPA) ratio improved by 87 bps YoY to 2.65%, while Net NPA (NNPA) fell to 0.47%
Net Interest Income (NII) grew 10.14% YoY to ₹10,037 Cr, driven by a NIM of 2.80%
RAM (Retail, Agriculture, MSME) advances grew 11.56% YoY to ₹6,08,095 Cr
Return on Equity (RoE) improved to 17.23% compared to 15.15% in the same quarter last year
👀 What to Watch
Monitor the bank's ability to accelerate deposit growth (currently at 3.5% YoY) to support its 12.5% credit growth without further straining the CD ratio. Watch for the sustainability of the low credit cost (0.38%) in upcoming quarters.
Union Bank Q1 FY27: Net Profit grows 29.6% YoY to ₹5,332 Cr; Asset Quality improves to 2.65% GNPA
Union Bank of India reported a strong Q1 FY27 with net profit rising 29.57% YoY to ₹5,332 Cr, supported by a 10.15% growth in Net Interest Income (NII). Asset quality improved significantly, with Gross NPA declining 87 bps YoY to 2.65% and Net NPA reaching a low of 0.47%. While credit growth was robust at 12.50% YoY, deposit growth lagged at 3.50%, pushing the Credit-to-Deposit (CD) ratio to 86.10%. The bank remains well-capitalized with a CRAR of 18.46%.
Confidence: HIGH
What changedThe bank has reported a significant year-on-year increase in profitability and a sharp reduction in non-performing assets, alongside a shift toward more granular RAM sector lending.
Why it mattersThe results demonstrate improved operational efficiency and balance sheet cleaning, which are critical for a public sector bank to maintain its market position and valuation multiples.
Net Profit (Q1 FY27): ₹5,332 CrGross NPA: 2.65%Net NPA: 0.47%Credit-to-Deposit Ratio: 86.10%CASA Ratio: 35.09%Q1 Profit vs TTM PAT: ~28.1%
📅 Short termThe stock is likely to react positively in the short term due to the double-digit NII growth and superior asset quality metrics compared to previous periods.
📈 Long termThe bank's focus on RAM sectors and high capital adequacy (18.46%) provides a structural runway for growth, though sustaining margins will depend on managing deposit costs.
⚠ Risk flags
- Slow deposit growth (3.50% YoY) relative to credit growth (12.50% YoY)
- Elevated CD ratio of 86.10% which may limit aggressive lending without higher deposit costs
Key Highlights
Net Profit increased by 29.57% YoY to ₹5,332 Cr for the quarter ended June 30, 2026.
Gross NPA ratio improved to 2.65% from 3.52% YoY, while Net NPA fell to 0.47% from 0.62%.
RAM (Retail, Agri, MSME) advances grew 11.56% YoY, now accounting for 57.31% of domestic advances.
Net Interest Margin (NIM) expanded to 2.80% compared to 2.76% in the same quarter last year.
Capital Adequacy Ratio (CRAR) stood at 18.46% with a strong CET-1 ratio of 16.38%.
👀 What to Watch
Investors should monitor the bank's strategy to bridge the gap between credit growth (12.5%) and deposit growth (3.5%), as the CD ratio has climbed to 86.10%. The continued improvement in asset quality and high Provision Coverage Ratio (95.05%) are key positives to track in upcoming quarters.
Union Bank Q1 FY27: Net Profit up 29.5% YoY to ₹5,332 Cr; Gross NPA improves to 2.65%
Union Bank of India reported a strong performance for Q1 FY27, with standalone net profit rising 29.5% YoY to ₹5,332.30 Cr. Asset quality improved significantly, with Gross NPA declining to 2.65% from 3.52% a year ago, and Net NPA reaching a low of 0.47%. Operating profit grew 15.8% YoY to ₹8,002.58 Cr, while the Capital Adequacy Ratio remained robust at 18.46%. The bank's Return on Assets (RoA) improved to 1.36% from 1.11% in the corresponding quarter last year.
Confidence: HIGH
What changedThe bank has reported its Q1 FY27 financial results, demonstrating a significant year-on-year improvement in both profitability and asset quality.
Why it mattersThe sharp reduction in Gross NPAs and the improvement in RoA to 1.36% indicate a structural improvement in the bank's balance sheet, which is critical for a Public Sector Bank's valuation.
Standalone Net Profit (Q1 FY27): ₹5,332.30 CrGross NPA %: 2.65%Net NPA %: 0.47%Capital Adequacy Ratio: 18.46%Return on Assets (Annualized): 1.36%Net Profit vs TTM PAT: ~28.1%
📅 Short termThe stock is likely to react positively in the short term due to the double-digit profit growth and better-than-expected asset quality metrics.
📈 Long termIf the bank maintains its RoA above 1% and continues granular loan growth in the RAM sector, it could lead to a sustained re-rating of its P/B multiple.
⚠ Risk flags
- Potential NIM compression if deposit costs rise
- System-wide slowdown in deposit growth
- Exposure to any fresh slippages in the corporate book
Key Highlights
Standalone Net Profit grew 29.5% YoY to ₹5,332.30 Cr from ₹4,115.53 Cr.
Gross NPA ratio improved to 2.65% compared to 3.52% in Q1 FY26 and 2.82% in Q4 FY26.
Net NPA ratio reached 0.47%, down from 0.62% YoY and 0.48% QoQ.
Operating Profit increased by 15.8% YoY to ₹8,002.58 Cr.
Capital Adequacy Ratio (Basel III) stood at 18.46% with a CET 1 ratio of 16.38%.
👀 What to Watch
Investors should monitor the bank's ability to maintain its Net NPA below 0.5% and the execution of its strategy to increase the RAM (Retail, Agri, MSME) sector share to 58-59% of the loan book.
Union Bank Q1 FY27: Net Profit up 29.5% YoY to ₹5,332 Cr; Gross NPA improves to 2.65%
Union Bank of India reported a strong standalone net profit of ₹5,332.30 Cr for Q1 FY27, representing a 29.5% increase compared to ₹4,115.53 Cr in the same quarter last year. Asset quality showed significant improvement, with the Gross NPA ratio declining to 2.65% from 3.52% YoY, and Net NPA reaching a low of 0.47%. While total standalone income grew marginally by 1.3% YoY to ₹31,806.20 Cr, operating profit rose by 15.8% to ₹8,002.58 Cr. The bank's annualized Return on Assets (RoA) improved to 1.36% from 1.11% YoY, reflecting better capital efficiency.
Confidence: HIGH
What changedThe bank has reported a substantial jump in quarterly profitability and a continued downward trajectory in non-performing assets (NPAs).
Why it mattersThe sharp improvement in asset quality (GNPA at 2.65%) and RoA (1.36%) indicates that the bank is successfully managing credit costs while maintaining a healthy capital buffer (CAR 18.46%).
Standalone Net Profit: ₹5,332.30 CrGross NPA %: 2.65%Net NPA %: 0.47%Capital Adequacy Ratio: 18.46%Return on Assets (Annualized): 1.36%Q1 Profit vs TTM PAT: ~28.1%
📅 Short termThe stock is likely to react positively in the short term due to the double-digit profit growth and better-than-expected asset quality metrics.
📈 Long termStructural improvements in the balance sheet and a focus on granular retail lending provide a stable foundation for long-term earnings growth, though margin pressure remains a sector-wide watch point.
⚠ Risk flags
- Marginal growth in total income (1.3% YoY) suggests potential pressure on interest income growth
- NIM compression risks if policy rates are cut
Key Highlights
Standalone Net Profit increased 29.5% YoY to ₹5,332.30 Cr for the quarter ended June 30, 2026
Gross NPA ratio improved to 2.65% from 3.52% in June 2025 and 2.82% in March 2026
Net NPA ratio reached 0.47%, down from 0.62% in the year-ago period
Operating Profit grew 15.8% YoY to ₹8,002.58 Cr, driven by controlled expenditure
Capital Adequacy Ratio (Basel III) strengthened to 18.46% compared to 18.30% in June 2025
👀 What to Watch
Investors should monitor the bank's ability to sustain Net Interest Margins (NIMs) as it pivots toward the RAM (Retail, Agriculture, MSME) sector, which now accounts for a significant portion of the loan book.
Union Bank Shareholders Approve MD & CEO Appointment and FY26 Financials at 24th AGM
Union Bank of India shareholders have approved all resolutions at the 24th Annual General Meeting held on July 10, 2026. Key approvals include the adoption of FY26 financial statements and the appointment of Shri Asheesh Pandey as Managing Director and CEO with 99.38% votes in favor. Additionally, the appointments of two Executive Directors and a Government Nominee Director were ratified. The bank maintains its strategic focus on the RAM (Retail, Agriculture, MSME) sector, targeting a 58-59% share of the loan book.
Confidence: HIGH
What changedThe bank has formally ratified its top leadership team, including the MD & CEO and Executive Directors, following the 24th AGM.
Why it mattersManagement stability is critical for Union Bank as it navigates digital transformation and attempts to defend margins by reducing high-cost bulk deposits by 21.85%.
MD & CEO Assent Rate: 99.3777%Govt Nominee Director Dissent: 8.8911%Total Assets: ₹ 14,90,323 CrBranch Network: 8,655Target RAM Sector Share: 58-59%
📅 Short termThe announcement is procedural and unlikely to trigger significant price movement in the next few days as the leadership appointments were expected.
📈 Long termThe confirmed leadership will be responsible for achieving the 9-10% expected growth rate and managing NIM compression risks from potential policy rate cuts.
⚠ Risk flags
- Management transition execution
- Higher dissent (8.89%) on Government Nominee Director compared to other resolutions
Key Highlights
Shri Asheesh Pandey confirmed as Managing Director and CEO with 99.3777% shareholder assent
Shri Amresh Prasad appointed as Executive Director with 93.1929% of valid votes cast in favor
Dr. Debasish Prusty appointed as Government Nominee Director with 91.1089% approval
Shareholders adopted the Audited Standalone and Consolidated Balance Sheet as of March 31, 2026
Voting rights for non-government shareholders were restricted to 10% per Banking Companies Act regulations
👀 What to Watch
Investors should monitor the new leadership's ability to execute the bank's strategy of shifting from bulk deposits to retail term deposits and maintaining a Credit-to-Deposit ratio between 78.5% and 80%.
12.5% YoY Advance Growth for Union Bank in Q1FY27; CD Ratio Rises to 83.38%
Union Bank of India reported a 12.50% YoY growth in gross advances to ₹10,96,331 Cr for the quarter ended June 30, 2026. However, total deposits grew only 3.50% YoY and actually declined 1.80% sequentially to ₹12,83,365 Cr. This mismatch has pushed the domestic Credit-to-Deposit (CD) ratio to 83.38%, significantly higher than the bank's target range of 78.5% to 80%. The RAM (Retail, Agriculture, MSME) segment continues to lead growth, increasing 11.56% YoY to ₹6,08,095 Cr.
Confidence: HIGH
What changedRelease of provisional Q1 FY27 operational data showing credit growth significantly outpacing deposit growth.
Why it mattersThe rising CD ratio (83.38%) indicates liquidity tightening and potential pressure on margins if the bank must raise deposit rates to fund further credit expansion.
Gross Advances: ₹10,96,331 CrTotal Deposits: ₹12,83,365 CrDomestic CD Ratio: 83.38%RAM Advances: ₹6,08,095 CrYoY Advance Growth: 12.50%
📅 Short termThe market may react cautiously to the sequential deposit contraction and the breach of the bank's own CD ratio target range.
📈 Long termThe structural shift toward the RAM sector is positive for asset quality, but sustainable growth will depend on the bank's ability to mobilize granular deposits.
⚠ Risk flags
- CD ratio exceeding target range (83.38% vs 78.5-80%)
- Sequential deposit contraction (-1.80% QoQ)
Key Highlights
Gross Advances grew 12.50% YoY to ₹10,96,331 Cr as of June 30, 2026.
Domestic CD Ratio (Excl. Bank Deposits) spiked to 83.38% from 76.24% YoY.
Total Deposits saw a sequential (QoQ) contraction of 1.80% to ₹12,83,365 Cr.
RAM Advances (Domestic) reached ₹6,08,095 Cr, representing 57.3% of domestic advances.
CASA Deposits grew 11.72% YoY to ₹4,50,220 Cr, though the CASA ratio dipped 11 bps sequentially to 35.10%.
👀 What to Watch
Monitor the upcoming full Q1 results to assess the impact of the elevated CD ratio and sequential deposit decline on Net Interest Margins (NIMs) and cost of funds.
Union Bank of India to Raise ₹8,000 Crore and Declares ₹5 Dividend for FY26
Union Bank of India has issued a notice for its 24th Annual General Meeting (AGM) scheduled for July 10, 2026. The bank is seeking shareholder approval to raise up to ₹8,000 crore in capital, comprising ₹3,000 crore through equity instruments and ₹5,000 crore via AT1/Tier-2 bonds. Additionally, the board has recommended a dividend of ₹5 per equity share for the financial year 2025-26. The Government of India will maintain at least a 51% stake in the bank following any equity issuance.
Key Highlights
Proposed dividend of ₹5 per equity share (50% of face value) for FY 2025-26.
Total capital raising plan of up to ₹8,000 crore to strengthen Basel III compliance.
Equity-linked fundraise (QIP/Public Issue/Rights Issue) capped at ₹3,000 crore.
Debt capital raise via Additional Tier-1 or Tier-2 bonds capped at ₹5,000 crore.
24th AGM to be held on July 10, 2026, via Video Conferencing.
👀 What to Watch
Investors should approve of the dividend payout and the proactive capital raising which supports future loan growth; however, monitor potential equity dilution from the ₹3,000 crore QIP/Public Issue.
Union Bank Sets July 3 as Record Date for Dividend; 24th AGM Scheduled for July 10, 2026
Union Bank of India has announced its 24th Annual General Meeting (AGM) will be held on July 10, 2026, via video conferencing. The bank has fixed July 3, 2026, as the record date to determine shareholder eligibility for the dividend for FY 2025-26. The register of members will remain closed from July 4 to July 10, 2026, for the purpose of the AGM and dividend payment. Shareholders can exercise their voting rights through a remote e-voting window open from July 7 to July 9, 2026.
Key Highlights
24th Annual General Meeting (AGM) to be held on July 10, 2026, at 11:00 AM IST.
Record date for dividend eligibility and e-voting participation is July 3, 2026.
Book closure period for AGM and dividend starts July 4 and ends July 10, 2026.
Remote e-voting window is scheduled from July 7 (9:00 AM) to July 9 (5:00 PM), 2026.
The bank will submit the Annual Report for FY 2025-26 and the formal AGM notice in due course.
👀 What to Watch
Investors seeking to qualify for the dividend should ensure they hold the bank's shares in their demat accounts before the record date of July 3, 2026. Shareholders should also review the upcoming Annual Report for insights into the bank's asset quality and growth trajectory.
Union Bank of India Sets July 3, 2026, as Record Date for Dividend and 24th AGM
Union Bank of India has announced July 3, 2026, as the record date for determining shareholder eligibility for dividend payments for the financial year 2025-26. The bank's 24th Annual General Meeting (AGM) is scheduled to take place on July 10, 2026, via video conferencing. The register of members will remain closed from July 4 to July 10, 2026, for the purpose of the AGM and dividend distribution. Shareholders can participate in remote e-voting between July 7 and July 9, 2026.
Key Highlights
Record date for dividend eligibility and e-voting is fixed as July 3, 2026
24th Annual General Meeting (AGM) scheduled for July 10, 2026, at 11:00 AM IST
Book closure period for AGM and dividend starts on July 4 and ends on July 10, 2026
Remote e-voting period is set from July 7 (9:00 AM) to July 9 (5:00 PM), 2026
👀 What to Watch
Investors seeking to receive the dividend should ensure they hold the bank's shares before the record date of July 3, 2026. Monitor the upcoming Annual Report for specific dividend payout amounts and long-term growth guidance.
Union Bank of India Board Approves Capital Raising Plan of ₹8,000 Crore
The Board of Directors of Union Bank of India has approved a significant capital plan to raise up to ₹8,000 crore to bolster its capital base. The plan includes raising equity capital up to ₹3,000 crore through various modes such as QIP, FPO, or Rights Issue. Furthermore, the bank intends to raise up to ₹5,000 crore via Basel III compliant Additional Tier 1 (AT1) and Tier 2 bonds. This move is aimed at supporting credit growth and meeting regulatory capital requirements, subject to government and shareholder approvals.
Key Highlights
Total capital raising approved for an amount not exceeding ₹8,000 crore
Equity capital component capped at ₹3,000 crore via QIP, FPO, Rights Issue, or ESPS
Debt capital component of up to ₹5,000 crore through Basel III AT1 and Tier 2 bonds
Provision included for raising funds through foreign currency denominated bonds
Fundraising is subject to necessary approvals from the Government of India and shareholders
👀 What to Watch
Investors should monitor the specific mode and timing of the ₹3,000 crore equity raise as it may lead to minor equity dilution. The overall plan is positive as it strengthens the bank's balance sheet for future lending expansion.
Union Bank Board Approves Capital Raising Plan of up to ₹8,000 Crore
The Board of Directors of Union Bank of India has approved a significant capital raising plan totaling up to ₹8,000 crore to bolster its capital base. The plan includes raising equity capital up to ₹3,000 crore through various routes such as QIP, FPO, or Rights Issue. Furthermore, the bank intends to raise up to ₹5,000 crore via Basel III compliant Additional Tier 1 or Tier 2 bonds. This move is aimed at supporting business growth and maintaining healthy capital adequacy ratios, subject to regulatory and shareholder approvals.
Key Highlights
Overall capital raising limit approved for an amount not exceeding ₹8,000 crore
Equity capital component of up to ₹3,000 crore via QIP, FPO, Rights Issue, or ESPS
Debt capital component of up to ₹5,000 crore through Basel III AT1 and Tier 2 bonds
Fundraising is subject to approvals from the Government of India and bank shareholders
👀 What to Watch
Investors should view this as a positive step for long-term growth, though they should monitor potential equity dilution from the ₹3,000 crore equity portion.
Union Bank of India Board Approves Capital Raising Plan of up to ₹8,000 Crore
The Board of Directors of Union Bank of India has approved a capital raising plan for a total amount not exceeding ₹8,000 crore. This plan includes raising equity capital up to ₹3,000 crore through various routes such as QIP, FPO, or Rights Issue. Furthermore, the bank intends to raise up to ₹5,000 crore via Basel III compliant Additional Tier 1 (AT1) or Tier 2 bonds. The fundraising is subject to approvals from the Government of India, regulatory bodies, and shareholders.
Key Highlights
Approved total capital raising limit of ₹8,000 crore for the upcoming period.
Equity capital component of up to ₹3,000 crore via QIP, FPO, Rights Issue, or ESPS.
Debt capital component of up to ₹5,000 crore through Basel III AT1 and Tier 2 bonds.
Provision included for raising debt through foreign currency denominated bonds.
Implementation is contingent upon necessary approvals from the Government of India and shareholders.
👀 What to Watch
Investors should view this as a positive step for strengthening the bank's capital adequacy and supporting future credit growth. Monitor the specific pricing and mode of equity issuance for potential minor dilution effects.
