Union Bank of India Ltd. has reported its fourth quarter earnings for the financial year ending March 2026. The lender has registered a 1% de-growth in net interest income while provisions have jumped significantly, almost tripling on a sequential basis to Rs 1,055 crore.
Union Bank of India's March quarter earnings saw a net interest income of Rs s 9,406 crore compared with Rs 9,514 crore in the year-ago period, down 1% year-on-year, whereas profit after tax grew 7% on a yearly basis and 6% on a sequential basis.
A sharp rise in provisions was perhaps the biggest highlight, tripling sequentially from Rs 322 crore to Rs 1,055 crore. On a yearly basis, provisions have increased 31%. A higher provision has had an impact on the bank's profitability.
That said, asset quality improved for Union Bank of India in Q4, with gross NPA ratio declining to 2.82% from 3.06%, down 24 basis points quarter-on-quarter while net NPA ratio eased to 0.48% from 0.51%, down 3 basis points quarter-on-quarter.
Union Bank of India's shares have dippled sharply following the announcement of its fourth quarter earnings, falling more than 6% from peak. The scrip is currently trading with cuts of more than 6.5%.
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