Union Bank of India’s Q2 net profit rises 30% to ₹5,537 crore

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NII grows 20% y-o-y as provisions nearly halve and asset quality improves in September quarter

By BL Mumbai Bureau

Updated - October 19, 2026 at 04:02 PM. | Mumbai

Union Bank of India’s standalone net profit increased 30.32 per cent to ₹5,537.2 crore in the second quarter of fiscal 2027, as provisions dipped in the quarter ended September 2026 compared with ₹4,249.1 crore in the year-ago period. Sequentially, the bank’s PAT increased 3.84 per cent from ₹5,332.3 crore in Q1FY27.

The bank’s net interest income (NII) increased 20.1 per cent to ₹10,582.7 crore in the reporting quarter on a year-on-year (y-o-y) basis. In the corresponding period of the previous fiscal, NII was ₹8,812.37 crore. The NII performance was also 5.4 per cent better than the first quarter of the current fiscal, when the indicator was ₹10,037.23 crore. The bank’s net interest margin (NIM) increased 19 basis points to 2.86 per cent in the quarter ended September 2026 from 2.67 per cent in the year-ago period.

Gross advances increased 18.53 per cent to ₹11.56 lakh crore in the reporting quarter as against ₹9.75 lakh crore. Sequentially, advances increased just about 5.4 per cent from ₹10.9 lakh crore in the previous quarter. Deposits increased just 6.9 per cent to ₹13.19 lakh crore from ₹12.34 lakh crore in the corresponding period last year. Deposits increased just about 2.8 per cent from ₹12.83 lakh crore. The bank collected $2.25 billion in FCNR(B) deposits, with 70 per cent of it leveraged.

The bank’s PAT got a significant boost by almost halving provisions down to ₹700 crore in the recently concluded quarter, as against ₹1,396.7 crore in the corresponding period last fiscal. Provisions also fell 28.45 per cent from the previous quarter, when the bank set aside ₹979.4 crore.

The bank’s non-performing assets (NPA) as a share of gross advances reduced to 2.4 per cent in the reporting quarter from 3.29 per cent on a y-o-y basis, signalling better asset quality. Its net NPA also reduced to 0.42 per cent in Q2FY27 from 0.55 per cent in the same quarter last fiscal.

Published on October 19, 2026

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