Union Bank Of India
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Other Retail Banking Operations-Retail Banking: 36.3% • Corporate / Wholesale Banking: 34.6% • Treasury: 23.4%
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 46.0% CAGR over last 5 years
- Comfortable capital adequacy - CAR of 18.1%
- Solid return on assets for a lender - ROA of 1.2%
- Company has consistently been profitable over the last 5 years
- Strong provisioning - provision coverage ratio of 95.0%
- Latest quarter profit grew 29.8% YoY, showing strong momentum
CONS
- A large part of profit comes from other income (88.9% of PBT)
- Equity base is being diluted - shares outstanding up 11.7%
- Operating margins have contracted to 26.9% from 31.5%
- Thin net interest margin of 2.5%
- Growth is decelerating - 3Y profit CAGR (30.6%) trails the 5Y trend (46.0%)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| SBIN | 1004.50 | 10.76 | 927215.54 | 1.73 | 24579.04 | 13.65 | 136240.49 | 8.36 | 12.16 | 52.34 |
| UNIONBANK | 180.80 | 6.69 | 138015.59 | 2.77 | 5368.17 | 29.77 | 27427.10 | 1.21 | 14.57 | 69.42 |
| PNB | 116.85 | 6.08 | 134295.04 | 2.57 | 5339.15 | 191.40 | 33589.17 | 3.12 | 13.26 | 75.40 |
| BANKBARODA | 238.00 | 6.78 | 123078.42 | 3.57 | 1572.59 | -53.08 | 35114.52 | 6.84 | 11.20 | 33.10 |
| INDIANB | 860.00 | 9.06 | 115838.90 | 2.12 | 3299.48 | 48.73 | 18095.14 | 11.11 | 16.28 | 67.14 |
| CANBK | 124.20 | 5.67 | 112657.49 | 3.38 | 4864.08 | 61.96 | 32957.16 | 4.55 | 14.46 | 68.47 |
| MAHABANK | 84.10 | 8.58 | 64685.98 | 2.62 | 2020.54 | 26.83 | 8034.65 | 13.90 | 16.53 | 68.61 |
| BANKINDIA | 142.00 | 5.49 | 64647.88 | 3.27 | 3138.46 | 77.92 | 20096.90 | 8.83 | 10.97 | 73.18 |
| IOB | 32.83 | 10.61 | 63219.38 | 0.00 | 1659.24 | 49.25 | 8777.57 | 18.82 | 11.31 | 54.56 |
| UCOBANK | 23.92 | 12.15 | 29994.63 | 1.84 | 652.43 | 24.09 | 6744.59 | 15.10 | 11.00 | 54.71 |
| CENTRALBK | 30.79 | 6.11 | 27869.26 | 3.90 | 1328.95 | 5.43 | 9725.90 | 12.79 | 8.27 | 67.83 |
| PSB | 22.59 | 11.58 | 16028.93 | 1.73 | 331.51 | 23.16 | 3213.37 | 10.40 | 9.07 | 71.38 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 23,613 | 24,732 | 25,521 | 26,510 | 26,527 | 26,887 | 26,720 | 27,367 | 27,099 | 26,665 | 26,819 | 26,676 | 27,427 | |
| Interest Expended | 14,664 | 15,498 | 16,236 | 16,966 | 17,004 | 17,720 | 17,350 | 17,743 | 17,855 | 17,707 | 17,370 | 17,005 | 17,206 |
| Net Interest Income | 8,949 | 9,233 | 9,285 | 9,544 | 9,523 | 9,167 | 9,370 | 9,624 | 9,244 | 8,958 | 9,449 | 9,671 | 10,221 |
| 4,209 | 4,221 | 4,281 | 5,102 | 4,799 | 5,926 | 4,614 | 6,223 | 4,869 | 5,550 | 5,183 | 5,999 | 5,233 | |
| Total Income | 0 | 0 | 0 | 0 | 31,325 | 32,812 | 31,749 | 34,092 | 32,344 | 32,215 | 32,002 | 32,675 | 32,660 |
| Operating Expenses | 0 | 0 | 0 | 0 | 65,102 | 69,473 | 64,740 | 81,127 | 71,769 | 76,634 | 76,721 | 76,933 | 7,414 |
| Operating Profit | 0 | 0 | 0 | 0 | 78,112 | 81,449 | 75,106 | 77,350 | 69,360 | 68,448 | 69,598 | 79,758 | 8,040 |
| Provisions & Contingencies | 0 | 0 | 0 | 0 | 28,568 | 17,390 | 16,219 | 15,602 | 16,673 | 13,923 | 3,221 | 10,503 | 973 |
| Profit before Tax | 5,180 | 5,492 | 5,554 | 5,281 | 4,954 | 6,406 | 5,889 | 6,175 | 5,269 | 5,453 | 6,638 | 6,926 | 7,067 |
| Tax % | 37.45% | 35.40% | 35.00% | 37.33% | 27.32% | 26.29% | 21.93% | 19.01% | 21.49% | 21.48% | 24.24% | 22.98% | 24.04% |
| Net Profit | 0 | 0 | 0 | 0 | 3,601 | 4,722 | 4,597 | 5,001 | 4,137 | 4,281 | 5,029 | 5,334 | 5,368 |
| EPS | 5 | 5 | 5 | 4 | 5 | 6 | 6 | 7 | 6 | 6 | 7 | 7 | 1 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| 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 | 1,00,376 | 1,06,600 | 1,06,799 | — | |
| Interest Expended | 23,776 | 23,471 | 23,896 | 25,837 | 44,112 | 40,178 | 48,033 | 63,364 | 68,916 | 69,477 | 69,288 |
| Net Interest Income | -23,776 | -23,471 | -23,896 | -25,837 | -44,112 | -40,178 | -48,033 | 37,012 | 37,684 | 37,322 | — |
| 5,430 | 5,462 | 5,042 | 5,789 | 14,307 | 13,524 | 15,915 | 17,813 | 21,562 | 21,601 | 21,965 | |
| Total Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,18,188 | 1,28,162 | 1,28,400 | 1,29,552 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 26,506 | 28,044 | 30,206 | — | |
| Operating Profit | -23,776 | -23,471 | -23,896 | -25,837 | -44,112 | -40,178 | -48,033 | 28,319 | 31,202 | 28,716 | — |
| 7,241 | 14,104 | 10,904 | 10,343 | 15,412 | 13,583 | 13,434 | 6,811 | 7,778 | 4,432 | — | |
| Profit before Tax | 359 | -6,607 | -3,933 | -4,151 | 2,327 | 8,566 | 12,147 | 21,508 | 23,424 | 24,284 | 26,083 |
| Tax % | 0.00% | -0.00% | -0.00% | -0.00% | 0.00% | 0.00% | 0.00% | 36.26% | 23.49% | 22.66% | 23.27% |
| Net Profit | 567 | -5,221 | -2,933 | -3,041 | 2,828 | 5,209 | 8,430 | 13,709 | 17,921 | 18,781 | 20,012 |
| EPS | 8 | -69 | -25 | -13 | 4 | 8 | 12 | 18 | 24 | 25 | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 13%
- 5 Years:
- 9%
- 3 Years:
- 10%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 30%
- 5 Years:
- 47%
- 3 Years:
- 32%
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:
- 16%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| 687 | 1,169 | 1,763 | 3,423 | 6,407 | 6,835 | 6,835 | 7,634 | 7,634 | 7,634 | |
| 22,865 | 24,083 | 24,969 | 30,463 | 58,227 | 63,922 | 71,865 | 89,860 | 1,06,096 | 1,25,814 | |
| 3,77,195 | 4,10,288 | 4,17,505 | 4,52,436 | 9,25,654 | 10,34,368 | 11,20,322 | 12,24,593 | 12,74,789 | 13,09,759 | |
| 41,225 | 45,680 | 43,276 | 52,714 | 51,922 | 51,245 | 42,737 | 26,974 | 64,992 | 77,798 | |
| Other Liabilities & Provisions | 13,167 | 9,900 | 10,964 | 16,369 | 40,063 | 37,292 | 46,495 | 52,831 | 57,714 | 66,395 |
| Total Liabilities | 4,55,681 | 4,91,120 | 4,98,581 | 5,55,509 | 10,82,377 | 11,93,766 | 12,88,357 | 140 | 151 | 159 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 16,522 | 21,017 | 20,800 | 20,119 | 37,886 | 46,116 | 50,258 | 52,902 | 89,508 | 66,477 | |
| Balances with Banks & Money at Call | 16,384 | 28,463 | 22,363 | 35,130 | 46,878 | 73,642 | 62,341 | 66,744 | 41,680 | 29,567 |
| 1,13,441 | 1,25,485 | 1,28,391 | 1,54,251 | 3,39,059 | 3,51,839 | 3,43,727 | 3,43,953 | 3,61,903 | 3,43,623 | |
| 2,87,950 | 2,90,572 | 2,98,780 | 3,17,677 | 5,93,320 | 6,63,356 | 7,64,277 | 8,74,080 | 9,56,729 | 10,57,188 | |
| 3,884 | 3,812 | 3,730 | 4,721 | 7,303 | 7,171 | 8,826 | 9,224 | 9,765 | 11,596 | |
| 17,479 | 21,738 | 24,472 | 23,556 | 57,869 | 51,604 | 58,907 | 55,058 | 51,685 | 78,989 | |
| Total Assets | 4,55,681 | 4,91,120 | 4,98,581 | 5,55,509 | 10,82,377 | 11,93,766 | 12,88,357 | 140 | 151 | 159 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -6,624 | 6,097 | -7,778 | -7,681 | 20,527 | 36,339 | 6,056 | 19,930 | -20,387 | -35,798 | |
| Cash from Investing | -280 | -315 | -297 | -377 | -601 | -558 | -2,561 | -1,394 | -1,890 | -7,075 |
| Cash from Financing | 10,194 | 10,792 | 1,758 | 20,144 | -18,861 | -786 | -10,654 | -11,489 | 33,819 | 7,729 |
| 3,289 | 16,574 | -6,317 | 12,086 | 1,066 | 34,995 | -7,159 | 7,047 | 11,542 | -35,145 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | ||||||||||
| EPS (₹) | 8.33 | -44.61 | -16.58 | -9.12 | 4.47 | 7.70 | 12.45 | 18.07 | 23.62 | 25.45 |
| Book Value (₹) | 306.88 | 196.05 | 138.95 | 89.73 | 93.24 | 96.57 | 106.17 | 120.32 | 139.74 | 163.58 |
| 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% | 2.77% | 2.60% | 2.49% |
| ROA % | 0.13% | -1.10% | -0.59% | -0.58% | 0.35% | 0.46% | 0.68% | 1.02% | 1.23% | 1.21% |
| ROE % | 2.73% | -23.73% | -12.38% | -11.02% | 6.25% | 8.28% | 12.17% | 16.68% | 18.05% | 16.22% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 48.35% | 47.34% | 51.26% | |
| ASSET QUALITY | ||||||||||
| Gross NPA % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Net NPA % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 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% | 33.49% | 33.43% | 35.12% |
| 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% | 0.00% | 0.00% | 0.00% | |
| GROWTH & VALUATION | ||||||||||
| Net Profit Growth % | -57.80% | -1021.15% | 43.81% | -3.66% | 193.00% | 84.17% | 61.86% | 62.61% | 30.73% | 4.80% |
| Book Value Growth % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 13.33% | 16.14% | 17.06% |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 8.49x | 5.34x | 6.45x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 1.28x | 0.90x | 1.00x |
| 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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