Public sector lender Union Bank of India (Union Bank) reported a 10% year-on-year (YoY) decline in net profit to Rs 4,249 crore for the second quarter of FY26, compared to Rs 4,719.7 crore in the corresponding quarter last year. “The 10% year-on-year dip in net profit was primarily due to an approximately Rs 500 crore reduction in recoveries from written-off assets,” said Avinash Prabhu, CFO, Union Bank of India.

Other income fell 6.25% to Rs 4,995 crore (from Rs 5,328 crore), even as the bank’s provisions declined 24.4% to Rs 2,565 crore in Q2 FY26, compared to Rs 3,393 crore in Q2 FY25. Despite the decline in profit, the state-run lender beat analyst estimates, which had projected a net profit of Rs 3,671 crore, according to Bloomberg. Sequentially, Union Bank’s profit rose 3.25% from

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