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Net interest income (NII), which is the difference between the interest income a bank earns from its lending activities and the interest it pays to depositors, increased by 0.8%, coming at ₹9,240.2 crore against ₹9,168 crore in the corresponding quarter of FY24.
The gross non-performing asset (GNPA) stood at 3.85% in the December quarter against 4.36% in the September quarter. Net NPA came at 0.82% against 0.98% quarter-on-quarter.
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In monetary terms, gross NPA stood at ₹36,554.3 crore against ₹40,498.9 crore quarter-on-quarter, whereas net NPA came at ₹7,568.4 crore against ₹8,758.6 crore quarter-on-quarter. Provisions stood at ₹1,599.1 crore against ₹1,712.2 crore quarter-on-quarter and ₹1,747.8 crore.
Union Bank of India has reported a 3.76% year-on-year growth in global deposits, reaching ₹12,16,562 crore as of December 31, 2024. The bank’s total business grew by 4.70% year-on-year, with gross advances increasing by 5.94% year-on-year to contribute to a total business size of ₹21,65,726 crore.
The RAM (Retail, Agriculture, and MSME) segment witnessed a robust 9.26% year-on-year growth, driven by a 16.36% rise in retail advances, a 4.34% increase in agriculture loans, and a 6.34% uptick in MSME advances. RAM advances now constitute 56.69% of the bank’s domestic advances.
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Capital adequacy also showed improvement, with the CRAR rising to 16.72% as of December 31, 2024, compared to 15.03% a year earlier. The CET1 ratio increased to 13.59%, up from 11.71% during the same period.
The bank’s profitability metrics strengthened significantly in Q3FY25. Return on Assets improved by 23 basis points (bps) year-on-year to 1.30%, while Return on Equity rose by 50 bps year-on-year to 17.75%.
The results came after the close of the market hours. Shares of Union Bank of India Ltd ended at ₹105.65, down by ₹1.60, or 1.49% on the BSE.
