Union Bank of India net profit up 29.6% to ₹5,332 crore in Q1FY27

admin — Wed, 15 Jul 2026 09:47:00 +0000

UBI reduced Gross Non Profitable Assets (GNPA) by 87 bps to 2.65% of the outstanding loans, from 3.52% in the year ago period. Net NPA also improved to 0.47%, down 15 bps from 0.62%. File
| Photo Credit: Reuters

Union Bank of India (UBI) net profit increased 29.57% to ₹5,332 crore as defaulting assets as a share of total loans reduced and net interest income increased in first quarter of fiscal 2027 as compared with ₹4,116 crore in the year ago period.

Net interest income increased 10.15% to ₹10,037 crore in the reproting quarter as against ₹9,113 crore in the corresponding period last year. Net interest margin increased a mild 4 basis points (bps) to 2.8% in the June quarter from 2.76%, on a year-on-year basis. The bank’s strategy will be to continue defending NIM said Asheesh Pande, MD and CEO of UBI, speaking at the media briefing.

The credit to deposit ratio also increased to 86.1% in the June quarter as against 79.2% in the same quarter last fiscal. This is because total deposits increased just 3.52% to ₹12.8 lakh crore in the reporting quarter. However total loans increased at a much faster pace of 12.5% to ₹10.9 lakh crore.

The PSU bank’s ratio of Current Account to Savings Account (CASA) increased 258 bps to 35.09% in the reporting quarter on a year-on-year basis , but dipped 11 bps from the March quarter of fiscal 2026. Mr. Pande said that building CASA and and retail term deposit will be the first preference for the bank.

UBI reduced Gross Non Profitable Assets (GNPA) by 87 bps to 2.65% of the outstanding loans, from 3.52% in the year ago period. Net NPA also improved to 0.47%, down 15 bps from 0.62%.

The bank currently has an FCNR (B) account worth $106 million sourced from Australia and UAE among their other five NRI branches and 20 other general branches with the base for NRI customers.

Published – July 15, 2026 03:17 pm IST

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Top Employee Of Union Bank Of India Accused Of Sexual Harassment, Court Issues Notice

admin — Thu, 22 Aug 2024 16:12:12 +0000

New Delhi:

The Delhi High Court on Thursday issued a notice regarding a public interest litigation (PIL) challenging the appointment of Pankaj Dwivedi as the Executive Director of Union Bank of India.

The PIL, filed by a woman who has accused Pankaj Dwivedi of sexual harassment, questions his appointment, which was made on March 27 for a three-year term.

The notice was issued by a division bench consisting of Acting Chief Justice Manmohan and Justice Tushar Rao Gedela.

Advocate Prashant Bhushan, representing the woman, argued that Pankaj Dwivedi’s appointment as Executive Director of Union Bank of India violated regulations due to the lack of vigilance clearance.

He emphasised that this contravenes the appointment norms for public sector undertakings like banks. Mr Bhushan also noted that a chargesheet had been filed against Pankaj Dwivedi in a sexual harassment case.

It was also argued by the petitioner that Pankaj Dwivedi was previously a General Manager at Punjab & Sind Bank before joining Union Bank of India. In 2020, the Supreme Court annulled the transfer of the woman who filed the plea against Pankaj Dwivedi. She had reported irregularities and corruption involving Pankaj Dwivedi at her branch and alleged that he sexually harassed her in 2018.

The woman had raised concerns about account maintenance for liquor contractors and corruption allegations against Pankaj Dwivedi.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Union Bank of India net profit up 29.6% to ₹5,332 crore in Q1FY27

Top Employee Of Union Bank Of India Accused Of Sexual Harassment, Court Issues Notice