Union Bank of India Net Profit Rises 27.4% in Q1 FY27

Union Bank of India reported a 27.4% year-on-year increase in consolidated net profit for the first quarter of fiscal year 2027, ending June 30, 2026. The Mumbai-based public sector lender saw its net profit rise to ₹5,641.52 crore, compared to ₹4,427.94 crore during the same period last year.

Total income for the bank grew 2.2% year-on-year to ₹32,660.24 crore, while operating profit increased 15.9% to ₹8,040.25 crore. The bank attributed these gains to steady core interest income, improved operating efficiency, and a 41.5% year-on-year reduction in non-tax provisioning requirements.

Retail banking served as the primary revenue driver, generating ₹12,326.36 crore in segment revenue. Additionally, the bank's Capital Adequacy Ratio strengthened to 19.15%, and the Government of India maintained its equity holding at 74.76%.