Noida, Apr 23 (APAC Media): State-owned Union Bank of India on Thursday posted a 6.64 per cent increase in standalone profit after tax (PAT) to Rs 5,316 crore for the three months ended March 2026.
The bank had reported a PAT of Rs 4,985 crore in the corresponding quarter of the previous fiscal year.
However, the bank’s net interest income (NII) declined 1.13 per cent year-on-year to Rs 9,406 crore in the reporting quarter, compared with Rs 9,514 crore in the March quarter of FY25 (Q4 FY25).
The board has recommended a dividend of Rs 5 per equity share of Rs 10 each for the financial year 2025–26, subject to approval by shareholders.
Total income declined to Rs 31,851.15 crore in the quarter under review, compared with Rs 32,752.67 crore in the January–March 2025 period, the lender said in a stock exchange filing.
However, asset quality improved during the quarter, with gross non-performing assets (GNPAs) declining to 2.82 per cent from 3.6 per cent in the year-ago period. Net NPAs also declined to 0.48 per cent from 0.63 per cent.
“The payment of dividend is subject to obtaining the necessary statutory approvals and approval of the shareholders of the bank at the ensuing 24th Annual General Meeting (AGM),” the bank said.
The bank’s global deposit base stood at Rs 13.07 lakh crore as of March 31, 2026, registering a 2.72 per cent year-on-year growth.
The bank further stated that the date of the AGM, the book closure for the AGM, and details of the dividend will be intimated in due course.
Shares of Union Bank of India declined over 7 per cent on Thursday, touching an intraday low of Rs 175 apiece on the National Stock Exchange (NSE) following the announcement of its financial results.
Its Retail, Agriculture and MSME (RAM) segment grew 12.56 per cent year-on-year, with retail advances rising 16.75 per cent and MSME advances also increasing 16.75 per cent.
During FY26, the bank reported a return on assets (RoA) of 1.25 per cent and a return on equity (RoE) of 15.86 per cent.
The bank operates a network of 8,697 branches, including overseas branches, while its ATM network stands at 8,656.
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