Noida, April 6 (APAC Media): State owned lender Union Bank of India on Monday saw a solid uptick in key business metrics for the financial year ended March 31, 2026, with robust growth in domestic advances, deposits and profitability, according to a company statement.
Shares of Union Bank of India surged 1.10% to Rs 174.10 on the BSE.
On the NSE, the stock gained 1.20% to Rs 174.05, reflecting positive market sentiment.
The public sector lender’s domestic advances increased 10.06% year on year to Rs 10,41,122 crore as of March 31, 2026, up from Rs 9,45,975 crore a year earlier. The growth in the credit book helped strengthen the bank’s overall lending profile amid stable macroeconomic conditions.
Domestic deposits also expanded, rising 2.72% YoY to Rs 13,06,297 crore, while quarter-on-quarter growth stood at 6.88%. The bank’s CASA (Current Account Savings Account) deposits grew 7.90% YoY and 10.82% QoQ, underlining sustained customer confidence in the bank’s low-cost funding base.
On a consolidated basis, Union Bank’s total global business, comprising domestic and international operations, reached Rs 23,85,679 crore as of March 31, 2026, marking a 5.79% YoY and 6.52% QoQ increase.
Global advances grew 9.76% YoY to Rs 10,78,779 crore, while global deposits rose 2.72% YoY to Rs 13,06,900 crore during the same period.
The lender also reported an improvement in profitability for the third quarter of the fiscal year. Net profit for Q3 FY26 was Rs 5,017 crore, representing an 8.97% increase compared with the corresponding quarter last year. Operating income for the quarter grew modestly by 1.55% to Rs 13,869 crore, reflecting steady revenue momentum amid competitive pressures.
Union Bank of India offers a wide range of banking services, including treasury operations, corporate and wholesale banking, as well as retail banking across its network.
In regulatory disclosures filed in early April, the bank confirmed compliance with SEBI’s Regulation 74(5) relating to the dematerialisation of securities, noting that all certificates received for demat had been processed, cancelled and listed appropriately on stock exchanges.
Disclaimer: This content was created independently and no APAC Media journalist was involved in its preparation.
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