Net interest income (NII) of the bank increased marginally to Rs 9,240 crore in Q3 FY25 as against Rs 9,168 crore in Q3 FY24. Net interest margin (NIM) for Q3 FY25 was 2.91% as against 3.09% in Q3 FY24.
Operating profit improved by 2.94% to Rs 7,492 crore in Q3 FY25 from Rs 7,278 crore in Q3 FY24.
Total provisions stood at Rs 2,888 crore in Q2 FY25, down 21.69% YoY.
Gross NPA of the bank amounted to Rs 36,554 crore as on 31 December 2024 as against Rs 43,262 crore as on 31 December 2023.
The bank’s gross NPA ratio improved by 98 bps on a YoY basis to 3.85%, and the net NPA ratio improved by 26 bps on a YoY basis to 0.82% as on December 31, 2024.
The total business of the bank increased by 4.70% year-on-year, with gross advances grew by 5.94% and total deposits up by 3.76%. As of 31 December 2024, the bank's total business stood at Rs 21,65,726 crore.
The bank's return on assets (ROA) improved by 23 basis points year-on-year to 1.30%, while the return on equity (ROE) increased by 50 basis points year-on-year to 17.75% during Q3 FY25.
The capital to risk weighted assets ratio (CRAR) improved from 15.03% as of 31 December 2023 to 16.72% as of 31 December 2024. Additionally, the common equity Tier 1 (CET1) ratio increased from 11.71% as of 31 December 2023 to 13.59% as of 31 December 2024.
The RAM (Retail, Agriculture, and MSME) segment of the bank grew by 9.26% year-on-year, with retail grew by 16.36%, agriculture by 4.34%, and MSME by 6.34%. RAM advances as a percentage of domestic advances stood at 56.69%.
Union Bank of India is engaged in the business of treasury operations, corporate and wholesale banking, retail banking operations, and other banking operations. The Government of India held a 74.76% stake in the bank. As of 31 December 2024, the bank has 8,574 branches, including foreign branches, and 9,087 ATMs.