Union Bank of India shares jumped 4% to ₹178 on Monday after the bank posted a 30.3% rise in net profit to ₹5,537 crore.
Core income climbed 20.1% to ₹10,583 crore, and operating profit surged 19% to ₹8,108 crore, up from ₹6,814 crore in the same quarter last year.
Gross NPA fell to 2.42% from 2.65%, translating to ₹27,916 crore, while net NPA dropped to 0.42% from 0.47%, a reduction of ₹248 crore in absolute terms.
Provisions trimmed to ₹700 crore from ₹979 crore, tightening the bank’s provisioning buffer and supporting margin expansion.
Union Bank now stands 16% up year‑to‑date, outpacing the 10% rise seen by the broader banking sector, drawing keen analyst attention despite a modest 4% intraday rally.
The bank will report Q3 on December 15; analysts project a 12% rise in net interest margin, but RBI’s upcoming policy review could temper growth expectations.