Ashish Mishra | Business Upturn

Union Bank of India clarifies on deposit variations amid media reports

Kinjal — Wed, 29 Apr 2026 18:20:38 +0000

Union Bank of India has addressed recent media reports concerning variations in deposits among certain private and public sector banks, including itself. The bank clarified that the reports appear to be based on an unverified letter, which contains factual inaccuracies. Union Bank emphasised that its financial statements undergo rigorous audits, with auditors issuing unmodified reports affirming their accuracy in compliance with regulatory and accounting standards.

The bank highlighted its continued focus on liability accretion, particularly through CASA (Current Account Saving Account) deposits. Strategic initiatives have been implemented to bolster this area, as detailed in the bank’s investor presentation. As of 28 April 2026, Union Bank reported a total deposit of ₹12,61,308 crore, with CASA deposits amounting to ₹4,30,833 crore. The average total deposit for the period from 1 April 2026 to 28 April 2026 stood at ₹12,65,339 crore, while the average CASA was ₹4,38,169 crore.

Union Bank noted that these figures surpass the average for the fourth quarter of the fiscal year 2025-26, indicating consistent growth and stability. The bank reassured stakeholders that any deposit movements following the financial year-end are typical within the banking industry.

The bank reiterated its commitment to governance, transparency, and regulatory compliance, urging stakeholders to rely on verified disclosures. Union Bank confirmed that the media report in question does not materially impact its financial position or operations.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Union Bank of India reports ₹5,316 crore net profit for Q4 FY2026

Arunika Jain — Thu, 23 Apr 2026 07:55:34 +0000

Union Bank of India has announced its financial results for the quarter ending March 31, 2026, revealing a net profit of ₹5,316 crore. This marks an increase from the ₹4,985 crore net profit reported in the corresponding quarter of the previous year.

The bank’s operating profit for the quarter stood at ₹7,955 crore, compared to ₹7,700 crore in the same period last year. For the full financial year ending March 2026, Union Bank of India reported an operating profit of ₹28,620 crore and a net profit of ₹18,697 crore.

The bank’s deposits grew by 2.72% year-on-year, while advances saw a significant increase of 9.74% year-on-year. The growth in Retail, Agriculture, and MSME (RAM) advances was recorded at 12.56% year-on-year.

Union Bank of India also reported improvements in its asset quality, with the Gross Non-Performing Assets (GNPA) ratio at 2.82% and the Net Non-Performing Assets (NNPA) ratio at 0.48%. The Provision Coverage Ratio (PCR) improved to 95.03%.

The bank’s Capital Adequacy Ratio (CRAR) was reported at 18.10%, with a Common Equity Tier 1 (CET-I) ratio of 15.69%.

In terms of profitability metrics, the bank’s Return on Assets (RoA) was 1.36%, and Return on Equity (RoE) was 18.04%. The Net Interest Income (NII) for the quarter was ₹9,406 crore, with a Net Interest Margin (NIM) of 2.64%.

Union Bank of India continues to expand its branch network, with a total of 8,697 branches and 8,656 ATMs across the country.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Union Bank of India faces Rs 95.4 lakh penalty from Reserve Bank of India

Arunika Jain — Fri, 27 Mar 2026 12:32:26 +0000

The Reserve Bank of India (RBI) has imposed a penalty of ₹95,40,000 on Union Bank of India for failing to comply with certain regulatory directions. The penalty was communicated to the bank on 27th March 2026.

The violations pertain to the bank’s non-compliance with RBI’s directions on limiting the liability of customers in unauthorised electronic banking transactions. Specifically, Union Bank of India did not credit the amount involved in unauthorised electronic transactions to the customers’ accounts within 10 working days from the date of notification by the customers. Additionally, the bank failed to provide a direct link for lodging complaints with a specific option to report unauthorised electronic transactions on the home page of its website.

Further non-compliance was noted in the bank’s adherence to RBI’s directions on income recognition, asset classification, and provisioning related to advances and the automation of these processes.

Union Bank of India has stated that the impact of the penalty on its financial, operational, or other activities is not significant. The bank also mentioned that it has taken necessary preventive measures to avoid the recurrence of such instances in the future.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Union Bank of India raises Rs 3,000 crore through oversubscribed bond issue

Yash Agarwal — Fri, 20 Mar 2026 13:54:02 +0000

Union Bank of India has successfully raised ₹3,000 crore through the issuance of long-term bonds aimed at financing infrastructure and affordable housing projects. The bond issue, which opened and closed on 20th March 2026, attracted significant interest from Qualified Institutional Buyers, resulting in an oversubscription of 3.12 times against the base issue size of ₹3,000 crore.

The bank received total bids amounting to ₹9,379.82 crore, highlighting the strong demand for these bonds. Despite the high level of interest, Union Bank of India decided to accept bids only up to the base issue size of ₹3,000 crore. The bonds were issued at a cut-off coupon rate of 7.16% per annum.

The bonds are characterised as senior, rated, listed, unsecured, redeemable, taxable, and transferable long-term fully paid-up non-convertible bonds in the nature of debentures. A total of 3,00,000 bonds, each valued at ₹1,00,000, were issued.

The deemed date of allotment for these bonds is set for 24th March 2026. The issuance was conducted through the NSE Electronic Bidding Platform, where 48 bids were received, and 14 were accepted.

This fundraising initiative is part of Union Bank of India’s strategy to bolster its financial resources for infrastructure and affordable housing projects, reflecting its commitment to supporting economic development through strategic investments.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Union Bank of India approves issuance of bonds up to ₹25,000 crore

Business Desk — Mon, 16 Mar 2026 05:05:33 +0000

Union Bank of India has announced plans to issue long-term bonds and green bonds totalling up to ₹25,000 crore. The decision was made during a meeting of the Committee of Directors for fund raising held on 16th March 2026.

The bank aims to raise up to ₹20,000 crore through long-term bonds in one or more tranches, specifically for financing infrastructure and affordable housing projects. As part of this plan, Union Bank of India may explore raising ₹7,500 crore, including a base issue of ₹3,000 crore and a green shoe option of ₹4,500 crore, with a tenor of 10 years before 31st March 2026. Additionally, the bank plans to issue green bonds or sustainable bonds amounting to ₹5,000 crore in one or more tranches.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).