PSLC Income Disappearance
Zero PSLC income in Q1 FY26 vs INR 950 crore in Q1 FY25 due to RBI guideline changes on agri gold loans. Management does not foresee replicating last year's income but expects some market-driven income in future quarters.
UNIONBANK / Q1-FY26 / risks
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Union Bank of India · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
medium
Rising MSME Slippages
MSME NPA ratio increased from 4.14% to 4.39% QoQ. While overall slippages declined, MSME segment remains elevated and continues to be monitored closely.
SMA-2 Acccount Deterioration
SMA-2 accounts doubled from INR 1,200 crore to INR 2,600 crore quarter-over-quarter. Management attributed this to temporary repayment delays with government support, but analyst raised concerns about potential NPA slippage.
Recovery Front Muted
Cash recovery halved to INR 790 crore from INR 1,600 crore in Q4. Some NCLT-related recoveries (expected ~INR 12,000 crore) delayed to September quarter. Management guided improvement in Q2.