Union Bank Of India
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Other Retail Banking Operations-Retail Banking: 37.1% • Corporate / Wholesale Banking: 35.4% • Treasury: 24.0%
AI Sector View
AI GENERATEDFinancial Services
Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.
PROS
- Company has delivered good profit growth of 45.1% CAGR over last 5 years
- Comfortable capital adequacy - CAR of 18.1%
- Solid return on assets for a lender - ROA of 1.2%
- Strong provisioning - provision coverage ratio of 95.0%
- Latest quarter profit grew 29.6% YoY, showing strong momentum
CONS
- A large part of profit comes from other income (80.4% of PBT)
- Equity base is being diluted - shares outstanding up 11.7%
- Operating margins have contracted to 27.0% from 31.5%
- Thin net interest margin of 2.5%
- Growth is decelerating - 3Y profit CAGR (30.4%) trails the 5Y trend (45.1%)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| SBIN | 997.00 | 10.68 | 920292.57 | 1.74 | 24579.04 | 13.65 | 136240.49 | 8.36 | 12.16 | 52.34 |
| UNIONBANK | 178.00 | 6.58 | 135878.18 | 2.81 | 5368.17 | 29.77 | 27427.10 | 1.21 | 14.57 | 69.42 |
| PNB | 116.65 | 6.07 | 134065.18 | 2.57 | 5339.15 | 191.40 | 33589.17 | 3.12 | 13.26 | 75.40 |
| BANKBARODA | 237.80 | 6.77 | 122974.99 | 3.57 | 1572.59 | -53.08 | 35114.52 | 6.84 | 11.20 | 33.10 |
| INDIANB | 852.90 | 8.99 | 114882.56 | 2.14 | 3299.48 | 48.73 | 18095.14 | 11.11 | 16.28 | 67.14 |
| CANBK | 123.90 | 5.66 | 112385.37 | 3.39 | 4864.08 | 61.96 | 32957.16 | 4.55 | 14.46 | 68.47 |
| MAHABANK | 84.17 | 8.59 | 64739.82 | 2.61 | 2020.54 | 26.83 | 8034.65 | 13.90 | 16.53 | 68.61 |
| IOB | 33.13 | 10.71 | 63797.08 | 0.00 | 1659.24 | 49.25 | 8777.57 | 18.82 | 11.31 | 54.56 |
| BANKINDIA | 139.80 | 5.40 | 63646.30 | 3.33 | 3138.46 | 77.92 | 20096.90 | 8.83 | 10.97 | 73.18 |
| UCOBANK | 23.98 | 12.18 | 30069.86 | 1.83 | 652.43 | 24.09 | 6744.59 | 15.10 | 11.00 | 54.71 |
| CENTRALBK | 30.75 | 6.10 | 27833.06 | 3.90 | 1328.95 | 5.43 | 9725.90 | 12.79 | 8.27 | 67.83 |
| PSB | 22.78 | 11.68 | 16163.74 | 1.71 | 331.51 | 23.16 | 3213.37 | 10.40 | 9.07 | 71.38 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 23,478 | 24,587 | 25,363 | 26,350 | 26,364 | 26,708 | 26,544 | 27,194 | 26,919 | 26,650 | 26,443 | 26,439 | 27,203 | |
| Interest Expended | 14,638 | 15,461 | 16,195 | 16,913 | 16,952 | 17,661 | 17,303 | 17,680 | 17,807 | 17,838 | 17,115 | 17,033 | 17,166 |
| Net Interest Income | 8,840 | 9,126 | 9,168 | 9,437 | 9,412 | 9,047 | 9,240 | 9,514 | 9,113 | 8,812 | 9,328 | 9,406 | 10,037 |
| 3,903 | 3,695 | 3,774 | 4,707 | 4,509 | 5,328 | 4,417 | 5,559 | 4,486 | 4,996 | 4,541 | 5,412 | 4,603 | |
| Total Income | 0 | 0 | 0 | 0 | 31,325 | 32,812 | 31,749 | 34,092 | 32,344 | 32,215 | 32,002 | 32,675 | 31,806 |
| Operating Expenses | 5,564 | 5,600 | 5,665 | 7,611 | 6,136 | 6,263 | 6,165 | 7,373 | 6,690 | 6,994 | 6,927 | 6,863 | 6,638 |
| Operating Profit | 7,179 | 7,221 | 7,278 | 6,533 | 7,785 | 8,113 | 7,492 | 7,700 | 6,909 | 6,814 | 6,942 | 7,955 | 8,003 |
| Provisions & Contingencies | 2,005 | 1,768 | 1,748 | 1,260 | 2,756 | 1,712 | 1,599 | 1,544 | 1,665 | 1,397 | 322 | 1,055 | 979 |
| Profit before Tax | 5,174 | 5,453 | 5,530 | 5,273 | 5,030 | 6,401 | 5,893 | 6,156 | 5,244 | 5,417 | 6,619 | 6,900 | 7,023 |
| Tax % | 37.45% | 35.61% | 35.08% | 37.22% | 26.85% | 26.26% | 21.88% | 19.03% | 21.52% | 21.56% | 24.21% | 22.96% | 24.08% |
| Net Profit | 3,236 | 3,511 | 3,590 | 3,311 | 3,679 | 4,720 | 4,604 | 4,985 | 4,116 | 4,249 | 5,017 | 5,316 | 5,332 |
| EPS | 5 | 5 | 5 | 4 | 5 | 6 | 6 | 7 | 5 | 6 | 7 | 7 | 1 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 99,778 | 1,05,909 | 1,05,992 | — | |
| Interest Expended | 23,757 | 23,443 | 23,852 | 25,794 | 44,079 | 40,157 | 47,978 | 63,208 | 68,695 | 69,333 | 69,152 |
| Net Interest Income | -23,757 | -23,443 | -23,852 | -25,794 | -44,079 | -40,157 | -47,978 | 36,570 | 37,214 | 36,659 | — |
| 4,965 | 4,990 | 4,474 | 5,261 | 11,744 | 12,525 | 14,633 | 16,080 | 19,813 | 19,435 | 19,552 | |
| Total Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,15,858 | 1,25,722 | 1,25,427 | 1,28,698 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 24,440 | 25,937 | 27,474 | — | |
| Operating Profit | -23,757 | -23,443 | -23,852 | -25,794 | -44,079 | -40,157 | -47,978 | 28,211 | 31,090 | 28,619 | — |
| 7,244 | 14,104 | 10,815 | 10,166 | 15,890 | 13,244 | 13,304 | 6,780 | 7,611 | 4,438 | — | |
| Profit before Tax | 342 | -6,641 | -3,927 | -4,028 | 2,399 | 8,579 | 12,138 | 21,430 | 23,479 | 24,181 | 25,960 |
| Tax % | 0.00% | -0.00% | -0.00% | -0.00% | 0.00% | 0.00% | 0.00% | 36.31% | 23.39% | 22.68% | 23.29% |
| Net Profit | 555 | -5,247 | -2,947 | -2,898 | 2,906 | 5,232 | 8,433 | 13,648 | 17,987 | 18,697 | 19,914 |
| EPS | 8 | -69 | -25 | -12 | 5 | 8 | 12 | 18 | 24 | 24 | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 13%
- 5 Years:
- 9%
- 3 Years:
- 9%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 30%
- 5 Years:
- 45%
- 3 Years:
- 30%
STOCK PRICE CAGR
- 10 Years:
- 2%
- 5 Years:
- 39%
- 3 Years:
- 27%
- 1 Year:
- 33%
RETURN ON EQUITY
- 10 Years:
- 3%
- 5 Years:
- 14%
- 3 Years:
- 17%
- Last Year:
- 17%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 687 | 1,169 | 1,763 | 3,423 | 6,407 | 6,835 | 6,835 | 7,634 | 7,634 | 7,634 |
| 22,748 | 23,928 | 24,724 | 30,363 | 58,070 | 63,741 | 71,499 | 89,335 | 1,05,342 | 1,20,941 | |
| 3,75,899 | 4,08,502 | 4,15,915 | 4,50,668 | 9,23,805 | 10,32,393 | 11,17,716 | 12,21,528 | 12,72,247 | 13,06,891 | |
| 41,226 | 45,681 | 42,864 | 52,486 | 51,837 | 51,179 | 43,137 | 26,948 | 64,844 | 77,190 | |
| Other Liabilities & Provisions | 11,603 | 8,101 | 8,773 | 13,743 | 31,587 | 33,443 | 41,564 | 46,512 | 49,789 | 56,698 |
| Total Liabilities | 4,52,704 | 4,87,380 | 4,94,039 | 5,50,683 | 10,71,706 | 11,87,591 | 12,80,752 | 139 | 150 | 157 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 16,520 | 21,016 | 20,796 | 20,118 | 37,880 | 46,113 | 50,254 | 52,898 | 89,503 | 66,473 | |
| Balances with Banks & Money at Call | 16,302 | 28,425 | 22,250 | 34,988 | 46,530 | 73,388 | 61,896 | 66,405 | 41,335 | 29,232 |
| 1,12,149 | 1,23,754 | 1,26,047 | 1,52,414 | 3,31,512 | 3,48,507 | 3,39,299 | 3,37,904 | 3,54,381 | 3,30,236 | |
| 2,86,467 | 2,88,761 | 2,96,932 | 3,15,049 | 5,90,983 | 6,61,005 | 7,61,845 | 8,70,776 | 9,53,513 | 10,53,277 | |
| 3,873 | 3,800 | 3,719 | 4,709 | 7,282 | 7,155 | 8,805 | 9,188 | 9,724 | 11,545 | |
| 17,372 | 21,591 | 24,252 | 23,351 | 57,457 | 51,387 | 58,632 | 54,752 | 51,341 | 78,528 | |
| Total Assets | 4,52,704 | 4,87,380 | 4,94,039 | 5,50,683 | 10,71,706 | 11,87,591 | 12,80,752 | 139 | 150 | 157 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -5,804 | 6,170 | -7,246 | -7,542 | 20,443 | 36,214 | 5,984 | 20,329 | -20,562 | -39,426 | |
| Cash from Investing | -523 | -343 | -363 | -726 | -583 | -357 | -2,408 | -1,261 | -1,600 | -2,976 |
| Cash from Financing | 9,873 | 10,792 | 1,214 | 20,328 | -18,676 | -767 | -10,926 | -11,916 | 33,697 | 7,269 |
| 3,546 | 16,619 | -6,395 | 12,060 | 1,184 | 35,090 | -7,350 | 7,152 | 11,535 | -35,134 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | ||||||||||
| EPS (₹) | 8.08 | -44.90 | -16.72 | -8.47 | 4.54 | 7.66 | 12.34 | 17.88 | 23.56 | 24.49 |
| Book Value (₹) | 305.17 | 194.72 | 137.56 | 89.43 | 92.99 | 96.30 | 105.64 | 119.63 | 138.75 | 157.20 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.90 | 3.00 | 3.60 | 4.75 | 5.00 |
| PROFITABILITY | ||||||||||
| Net Interest Margin % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 2.75% | 2.59% | 2.48% |
| ROA % | 0.13% | -1.12% | -0.60% | -0.55% | 0.36% | 0.46% | 0.68% | 1.02% | 1.24% | 1.22% |
| ROE % | 2.69% | -24.00% | -12.54% | -10.56% | 6.44% | 8.34% | 12.22% | 16.69% | 18.24% | 16.55% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 46.42% | 45.48% | 48.98% | |
| ASSET QUALITY | ||||||||||
| Gross NPA % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 8.45% | 0.00% | 0.00% | 3.52% |
| Net NPA % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 2.64% | 0.00% | 0.00% | 0.62% |
| Provision Coverage % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 86.61% | 0.00% | 94.61% | 95.03% |
| Slippage Ratio % | — | — | — | — | — | — | — | — | — | — |
| BALANCE SHEET & LIQUIDITY | ||||||||||
| CASA % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 33.58% | 33.51% | 35.20% |
| Credit-Deposit Ratio % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.02% | 0.05% | 0.06% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 16.97% | 18.02% | 18.10% | |
| GROWTH & VALUATION | ||||||||||
| Net Profit Growth % | -58.92% | -1045.11% | 43.83% | 1.69% | 200.28% | 80.05% | 61.18% | 61.84% | 31.79% | 3.95% |
| Book Value Growth % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 13.25% | 15.98% | 13.30% |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 8.58x | 5.36x | 6.70x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 1.28x | 0.91x | 1.04x |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 2.35% | 3.76% | 3.05% |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-11 - Union Bank of India has informed the Exchange about General Updates
2026-09-09 - Union Bank of India has informed the Exchange about Intimation of Strike
2026-09-01 - Union Bank of India has informed the Exchange about change in Senior Management of the Bank.
2026-08-28 - Union Bank of India has informed the Exchange regarding 'Disclosures under SEBI (LODR) Regulations, 2015'.
2026-08-27 - Union Bank of India has informed the Exchange about Credit Rating- New
2026-08-27 - Union Bank of India has informed the Exchange about Credit Rating- New
2026-08-25 - Union Bank of India has informed the Exchange regarding 'Disclosure under SEBI LODR Regulation 2015'.
2026-08-21 - Union Bank of India has informed the Exchange about Credit Rating- New
2026-08-21 - Union Bank of India has informed the Exchange about Credit Rating- New
News
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