Union Bank sees 10% fall in profit

PUBLIC SECTOR LENDER Union Bank of India reported a 10% year-on-year (YoY) decline in net profit to ₹4,249 crore for the second quarter of FY26, compared to ₹4,719.7 crore in the corresponding quarter last year.

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“The 10% year-on-year dip in net profit was primarily due to an approximately ₹500 crore reduction in recoveries from written-off assets,” said Avinash Prabhu, CFO, Union Bank of India.

Other income fell 6.25% to ₹4,995 crore (from *5,328 crore). The fall in profit was reported even as the bank’s provisions declined 24.4% to ₹2,565 crore in Q2 FY26, compared to ₹3,393 crore in Q2 FY25.