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A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
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Revenue
₹1,05,900 Cr
verified against source
Revenue YoY
—
reported change
EBITDA
Pending
latest reported figure
Source
screener in partial
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Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Union Bank of India reported a strong Q4 FY26 with net profit of ₹18,697 crore and recommended a dividend of ₹5 per share. The bank achieved robust business growth, with gross advances up 9.74% YoY and a significant improvement in CASA ratio to 35.21% from 32.51% in September. Management highlighted a strategic shift from bulk deposits to retail term deposits and CASA, reducing bulk deposits by ₹70,000 crore. The bank also created a ₹700 crore contingency provision without impacting profit or capital. NIM compressed to 2.64% due to the December rate cut but management expects stabilization and gradual improvement. Credit cost was low at 23 bps for the year, with guidance of ~1% for FY27. Key risks include potential stress from West Asia disruptions and elevated SMA1 levels, though management sees no material impact yet. The bank targets 13-14% credit growth in FY27 while maintaining asset quality and profitability.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects to achieve 13-14% credit growth in FY27, in line with industry trends and better than the 9.74% YoY growth in FY26.
- Management expects NIM to defend current levels and gradually improve, driven by CASA expansion and better asset-liability management.
- Management guided credit cost around 1% for FY27, up from 23 bps in FY26, reflecting normalization and prudent provisioning.
- Management indicated that PSLC fee income could return to ₹1,000 crore plus levels in FY27, similar to FY25, after a lower contribution in FY26.
Risks flagged
- Ongoing West Asia conflict could stress energy-sensitive sectors and remittance flows, though management sees no material impact yet.
- SMA1 loans nearly doubled sequentially, indicating potential stress in the near term, though management attributed it to migration from SMA2.
- Further repo rate cuts could compress NIM, though management expects to defend margins through liability mix improvement.
- Total deposit growth of 2.72% YoY trailed credit growth of 9.74%, potentially constraining future loan growth if not addressed.
Key quotes
- We are choosing growth with quality number one and with profitability.
- We would like to defend our name we want to defend. We continued saying that and that is what we tried.
- In good times you if you have money to you keep aside and save it. So simply we have kept aside not in profit not in capital.
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