India · Delayed Price · Currency is INR Union Bank of India Earnings Call Transcripts
Fiscal Year 2026
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Net profit rose to INR 18,697 crore with strong asset quality and capital ratios. Credit growth guidance is 13%-14% for FY27, with NIM expected to be stable or improve, and a continued focus on quality growth and profitability.
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Net profit exceeded INR 5,000 crore for the first time, driven by strong RAM segment growth, improved asset quality, and strategic portfolio restructuring. NIMs are expected to improve, credit costs remain low, and digital initiatives are enhancing operational efficiency.
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Net profit rose 3.25% QoQ to INR 4,249 crore, with strong asset quality and capital ratios. Management targets system-level growth by March 2026, focusing on retail and MSME lending, margin protection, and prudent provisioning.
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Q1 FY2026 net profit rose 12% year-over-year to INR 4,116 crore, with strong RAM and retail growth but moderated overall credit and deposit growth. NIM declined to 2.76%, and PSLC income is expected to remain subdued due to regulatory changes.
Fiscal Year 2025
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Record annual net profit and improved asset quality were achieved, though credit and deposit growth lagged guidance due to a strategic focus on profitability. Margins face pressure from RBI rate cuts, but strong capital adequacy and a robust recovery pipeline support a positive outlook.
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Net profit rose 28.2% YoY in Q3FY25, with strong asset quality and capital ratios. Business growth moderated due to a strategic reduction in bulk deposits, but retail deposit and non-interest income growth remained robust. Digital initiatives and recoveries are on track.
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Q2 FY25 saw record operating and net profits, improved asset quality, and strong capital ratios. Growth in retail and digital banking, along with robust recoveries, offset a large one-time slippage. Guidance for NIM, credit cost, and recovery remains intact.
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First quarter saw strong profit and operating growth, improved asset quality, and stable margins, with a one-off standard asset provision for potential stress. Deposit growth lags credit, but initiatives are underway to close the gap and maintain guidance for FY 2025.