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Union Bank Shares Surge 5% After Strong Q2 Results and Asset Quality Improvement
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CNBC TV18•19-10-2026, 12:35
Union Bank Shares Surge 5% After Strong Q2 Results and Asset Quality Improvement
- •Union Bank of India shares gained up to 4% following impressive September quarter results showing year-on-year improvements.
- •Net profit surged by 30.3% to ₹5,537 crore compared to the same period last year.
- •Net Interest Income rose 20.1% year-on-year to reach ₹10,583 crore.
- •Gross NPA improved sequentially to 2.42% and Net NPA improved to 0.42%.
- •Fresh slippages declined to ₹1,856 crore while provisions dropped to ₹700 crore, boosting overall profitability.
Key Questions Answered
Union Bank of India reported a net profit of ₹5,537 crore for the September quarter, marking a 30.3% increase from the ₹4,249 crore recorded in the same period last year. Meanwhile, its core income or Net Interest Income grew by 20.1% year-on-year to reach ₹10,583 crore.
The bank's asset quality saw a sequential improvement during the September quarter. Gross NPA declined to 2.42% from 2.65% in June, while Net NPA improved to 0.42% compared to 0.47% in the previous quarter.
Fresh slippages for Union Bank of India declined to ₹1,856 crore in the September quarter down from ₹2,062 crore in the June quarter. Additionally, provisions dropped to ₹700 crore compared to ₹979 crore in the previous quarter.
