Union Bank Posts Strong Q1 Profit Growth

Public sector lender Union Bank of India (UBI) reported a strong performance in the first quarter of the financial year 2026-27. The bank posted a net profit of ₹5,641.52 crore in Q1, registering a 27.5% growth compared to ₹4,427.94 crore recorded during the same period last year. The growth was supported by higher interest income, improved margins, and better asset quality.

The bank’s net interest income (NII) increased by 1.05% year on year to ₹27,203 crore, while the net interest margin (NIM) improved to 2.80%. UBI MD and CEO Ashish Pandey expressed confidence that margins could improve further in the coming quarters. He also revealed that the bank has mobilised $106 million through the RBI’s FCNR-B deposit special window and aims to raise $1.5-2 billion by September, offering interest rates between 6.10% and 6.60% annually.