Union Bank of India declared a dividend of ₹5 per equity share for the financial year 2025-26 during its 24th Annual General Meeting held on July 10, 2026. The meeting, conducted via Video Conferencing and Other Audio-Visual Means, approved the audited standalone and consolidated financial statements for the year ended March 31, 2026. Shareholders also authorized the bank to raise capital through the issuance of fresh equity shares and Additional Tier-1 or Tier-2 capital in accordance with BASEL III Guidelines.

The board's proposal to appoint Asheesh Pandey as Managing Director and CEO was approved. Pandey chaired the meeting pursuant to Regulation 59 of the Union Bank of India (Shares and Meetings) Regulations, 1998. The bank also secured shareholder approval for the reappointment of Nitesh Ranjan and Ramasubramanian S as Executive Directors. Additionally, Amresh Prasad was appointed as an Executive Director, and Dr. Debasish Prusty was appointed as a Government Nominee Director.

Key Resolutions Passed

The shareholders voted on eight agenda items, all of which were passed with the requisite majority. The resolutions covered financial approvals, capital raising, and key management appointments. The proceedings were conducted in compliance with Ministry of Corporate Affairs, SEBI, and Ministry of Finance guidelines.

The Chairman highlighted the bank's resilience amid global economic uncertainties, citing a philosophy of "Business First, Compliance Always." He noted improvements in CASA ratios and a healthy credit-deposit ratio driven by efficient cash and fund management. The bank emphasized four strategic pillars: Digital, Strategy, Reconciliation, and Ecosystem Banking, while strengthening frameworks for risk management, compliance, and ESG oversight.

The meeting commenced at 11.00 a.m. and concluded at 01.59 p.m. The consolidated results of remote e-voting and e-voting conducted during the AGM will be available on the bank's website and the website of e-voting service provider KFin Technologies Limited. The results will also be communicated to the BSE and NSE stock exchanges.

Union Bank of India reported a 12.50% year-on-year increase in gross advances, reaching ₹10,96,331 crore for the quarter ended June 30, 2026. The bank's total domestic advances grew by 13.11% to ₹10,61,128 crore, driven by an 11.56% rise in Retail, Agriculture, and MSME (RAM) advances. These figures are part of the provisional business intimation released under SEBI regulations ahead of the full financial results declaration.

Deposits and CASA Performance

The bank's domestic CASA (Current Account Savings Account) deposits increased by 11.72% year-on-year to ₹4,50,220 crore, improving the CASA ratio to 35.10% from 32.51% in the corresponding period last year. Total deposits, however, declined by 1.80% quarter-on-quarter to ₹12,83,365 crore, though they registered a 3.50% growth compared to the same quarter in the previous year.

Credit-Deposit Ratio and Global Business

The Credit-Deposit (C/D) ratio for domestic operations, excluding bank deposits, rose to 83.38%, an increase of 714 basis points year-on-year. Including bank deposits, the C/D ratio stood at 82.72%, up 704 basis points from the prior year. The global business volume stood at ₹23,79,696 crore, reflecting a 7.46% year-on-year growth.

Key Business Figures (Provisional)

The following table presents the bank's provisional business figures across key parameters:

The information was submitted by Ashish Mishra, Company Secretary, and is subject to review by the Statutory Central Auditors and necessary approvals from the bank's board.