Union Bank of India Q1 results: Profit jumps 30% YoY to ₹5,332 crore; operating profit rises 16% YoY

Union Bank of India Q1 results: Public sector bank (PSB) Union Bank of India, on Wednesday, 15 July, reported a 29.6% year-on-year (YoY) rise in its stanbdalone profit to ₹5,332.30 crore for the April-June quarter of the current financial year (Q1FY27). The lender's profit was ₹4,115.53 crore in the corresponding quarter of the previous financial year.

1. The bank's total income for the June quarter rose by 1.3% YoY to ₹31,806.20 crore. In Q1FY26, its total income was ₹31,405.03 crore.

2. Union Bank of India's operating expenses declined by 0.80% YoY to ₹6,637.66 crore from ₹6,689.67 crore in the same quarter last year.

Operating profit for the quarter under review jumped nearly 16% YoY to ₹8,002.58 crore from ₹6,908.66 crore in the June quarter of the last financial year.

3. Its provisions and contingencies, other than taxes, declined to ₹979.42 crore in Q1FY27 from ₹1,664.51 crore in the corresponding quarter of the previous financial year, and ₹1,054.98 crore in Q4FY26.

4. Gross advances during the quarter increased by 12.50% YoY, while total deposit grew by 3.50% YoY, with total deposits base of ₹12,83,366 crore by the end of the June quarter. The bank said it had a total business of ₹23,79,697 crore as on 30 June 2026.

(This is a developing story. Please check back for fresh updates.)

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