Union Bank of India received credit rating reaffirmations from CRISIL Ratings on December 11, 2025, with the rating agency maintaining its positive assessment of the public sector bank's financial strength and creditworthiness. The reaffirmation covers multiple debt instruments while reflecting the bank's improved operational performance and asset quality metrics.

Rating Actions and Instrument Details

CRISIL Ratings reaffirmed ratings on several key debt instruments while taking specific actions on others. The rating agency maintained its assessment across different categories of bonds with stable outlooks.

The withdrawal of rating on ₹1,000 crores of Tier-2 bonds was executed in line with CRISIL's withdrawal policy, following independent confirmation that these instruments were fully redeemed. All rating actions were verified on December 11, 2025.

Financial Performance and Asset Quality Improvement

The bank demonstrated significant improvement in asset quality metrics during the reporting period. Gross Non-Performing Assets (GNPA) showed a declining trend, reflecting enhanced recovery efforts and better credit management practices.

The improvement in GNPA stems primarily from the retail book and MSME segments, supporting overall asset quality metrics. Credit costs remained range-bound between 0.40%-0.50% of average total assets since fiscal 2024, indicating controlled provisioning requirements.

Capital Adequacy and Profitability Metrics

Union Bank maintained strong capital adequacy ratios well above regulatory requirements. The bank's capitalization benefited from equity infusion and strong internal accruals, providing adequate buffers for business growth.

The bank reported consolidated profit after tax of ₹8,419 crores for H1 FY26 compared to ₹8,322 crores in H1 FY25. For the full fiscal 2025, the profit was ₹17,922 crores against ₹13,708 crores in the previous fiscal, demonstrating sustained profitability improvement.

Operational Scale and Market Position

Union Bank maintains sizeable scale of operations with significant market presence in the domestic banking system. The bank holds a 4.00% share each in deposits and advances in the domestic banking system as of September 30, 2025.

The bank benefits from its extensive branch network and wide reach in rural and semi-urban areas, facilitating access to a stable resource base. Government ownership stood at 74.70% as of September 30, 2025.

Rating Rationale and Outlook

CRISIL's ratings factor in the expectation of strong support from the majority stakeholder, Government of India, along with the bank's adequate capital position and sizeable scale of operations. These strengths are partially offset by average, though gradually improving, asset quality and profitability metrics. The stable outlook reflects the rating agency's assessment that Union Bank should continue to benefit from strong government support and its large size and scale, while maintaining current asset quality levels going forward.

Union Bank of India , a prominent player in the Indian banking sector, has announced a significant addition to its leadership team. Shri Amresh Prasad, formerly the Chief General Manager of Punjab National Bank, has been appointed as the new Executive Director of Union Bank of India.

Key Appointment Details

Extensive Banking Experience

Shri Amresh Prasad brings a wealth of experience to his new role at Union Bank of India. With over 32 years in the banking industry, he has developed expertise in several critical areas:

• Corporate credit
• Credit review and monitoring
• Transaction monitoring
• Branch operations

This extensive background positions Shri Prasad well to contribute to Union Bank of India's strategic initiatives and operational excellence.

Appointment Process

The appointment of Shri Amresh Prasad as Executive Director was made by the Central Government, as notified on November 24, 2025. His tenure is set for three years from the date of assuming office, or until he reaches the age of superannuation on October 31, 2028, or until further orders, whichever comes first.

Educational Background

Shri Prasad's educational qualifications include:

• Graduation in Chemistry
• Certified Associate from the Indian Institute of Bankers (CAIIB)

He has also participated in various training and Leadership Development Programs, including:

• Leadership Development Program at SBI L, Kolkata
• Aarohan 2023 FSIB Program conducted by Financial Services Institution

Implications for Union Bank of India

This appointment is expected to bring fresh perspectives and valuable insights to Union Bank of India's executive team. Shri Prasad's extensive experience in various aspects of banking, particularly in corporate credit and monitoring, aligns well with the bank's focus on maintaining a robust financial position and enhancing its service offerings.

As Union Bank of India continues to navigate the evolving landscape of the Indian banking sector, Shri Amresh Prasad's leadership is anticipated to play a crucial role in shaping the bank's strategies and operations in the coming years.