UNION BANK OF INDIA Q3 FY25 Results

Summary

Union Bank of India has reported a strong financial performance for the quarter ended December 31, 2024. The bank's net profit increased by 28.24% on a Year-over-Year (YoY) basis. The non-interest income of the bank grew by 17.02% on a YoY basis. The bank continues to demonstrate a strong liability franchise with a total deposit base of Rs.12,16,562 Crores as on December 31, 2024, indicating a 3.76% YoY growth. The total business of the bank increased by 4.70% YoY, with gross advances growing by 5.94% YoY and total deposits growing by 3.76% YoY. The bank's Return on Assets improved by 23 bps on a YoY basis to 1.30% and Return on Equity improved by 50 bps on a YoY basis to 17.75% during Q3FY25. The bank also reported a reduction in NPA, with gross NPA (%) improving by 98 bps on a YoY basis to 3.85% and net NPA (%) improving by 26 bps on a YoY basis to 0.82% as on December 31, 2024.

Key Highlights

1. 1

   Net Profit increased by 28.24% on YoY basis during Q3FY25

2. 2

   Non-interest income of Bank grew by 17.02% on YoY basis during Q3FY25

3. 3

   Global deposits have increased by 3.76% YoY

4. 4

   Total Business of the Bank increased by 4.70% YoY

5. 5

   Return on Assets improved by 23 bps on YoY basis to 1.30% & Return on Equity improved by 50 bps on a YoY basis to 17.75% during Q3FY25

6. 6

   Gross NPA (%) improved by 98 bps on YoY basis to 3.85% and Net NPA (%) improved by 26 bps on a YoY basis to 0.82% as on December 31, 2024