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Union Bank of India Targets 3 Percent NIM Supported by Credit Growth and FCNR(B) Funds
M
Moneycontrol•19-10-2026, 16:33
Union Bank of India Targets 3 Percent NIM Supported by Credit Growth and FCNR(B) Funds
- •Union Bank of India aims to achieve a 3 percent net interest margin by driving credit growth and utilizing FCNR(B) deposits, according to MD and CEO Asheesh Pandey.
- •The bank reported a global NIM of 2.86 percent in the September quarter, showing an improvement from 2.67 percent in the previous year.
- •Union Bank successfully raised $2.25 billion through the FCNR(B) window, with about 70 percent of the funds already deployed for productive returns.
- •Standalone net profit for the September quarter surged 30.31 percent year-on-year to Rs 5,537 crore, driven by a 20.09 percent increase in net interest income.
- •Global advances grew at 18.53 percent to Rs 11.56 lakh crore, outpacing the deposit growth of 6.87 percent.
Key Questions Answered
Union Bank of India is targeting a net interest margin (NIM) of 3 percent by driving credit growth and deploying funds raised through FCNR(B) deposits.
Union Bank raised $2.25 billion through the FCNR(B) window, successfully meeting its target range of $2 billion to $2.5 billion.
Union Bank of India reported a 30.31 percent year-on-year increase in standalone net profit, reaching Rs 5,537 crore in the September quarter.
