Union Bank of India

What Union Bank of India does

Union Bank of India is a Government of India-owned public sector bank headquartered in Mumbai, founded in 1920, and listed on the BSE and NSE. Following the 2020 amalgamation of Andhra Bank and Corporation Bank, it operates over 8,675 branches with approximately 73,600 employees, and maintains overseas branches in Hong Kong, DIFC Dubai, and Sydney, plus a wholly-owned UK subsidiary in London. The bank serves retail customers, MSMEs, agricultural borrowers, large corporates, government entities, and non-resident Indians through a full-spectrum product suite spanning savings and term deposits, home/personal/vehicle/education/gold loans, MSME and agricultural credit (KCC), corporate banking, trade finance, treasury, and insurance/mutual fund distribution.

The bank operates a multi-channel distribution model combining its physical branch network with digital channels including the Union Ease mobile app, internet banking, WhatsApp banking, UPI, IMPS, FASTag, mPassbook, an Account Aggregator platform, and Uni-Verse (metaverse banking). Its digital lending infrastructure includes straight-through processing for MSME loans, Digital KCC, Digital Gold Loan, Digital Education Loan, Nari Shakti, Digital SHG, and Union Digital Ease (cash-flow-based MSME lending using digital footprint, geo-tagging, and video KYC). Internationally, the bank is a distributor of CBDC (Digital Rupee) and uses overseas centers to mobilize foreign currency deposits (FCNR(B)) and arrange foreign currency funding.

Union Bank's revenue model is predominantly interest-based, with net interest income of Rs 10,037 crore in Q1 FY27, complemented by fee income of Rs 3,215 crore (up 45% YoY) from processing fees, commissions, and distribution businesses, and treasury income (which declined 54.5% in Q1 FY27). It funds itself through a deposit base of Rs 12.83 lakh crore and certificate of deposit issuances. As of Q1 FY27, the bank reported a gross NPA of 2.65%, capital adequacy of 18.46%, LCR of 121.3%, and NIM of 2.80%, with annual FY26 net profit of Rs 18,781 crore.

Name

Union Bank of India

Legal name

Union Bank of India

Website

https://unionbankofindia.co.in

Company type

Public

Founded year

1920

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Union Bank of India is a Government of India-owned public sector bank, founded in 1920, offering retail, MSME, agricultural, corporate, and NRI banking across 8,675+ domestic branches and overseas centers in Hong Kong, Dubai, Sydney, and London.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Commercial Banking (52211), Commercial Banking (522110)

SIC

National Commercial Banks (6021)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

akta.pro secondary industries

Branch & In-Person Banking (Teller/ATM Networks) (FSABAAAE), Credit Cards & Revolving Credit (FSABAAAC), Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG)

Keywords

• Retail banking services
• Commercial lending products
• MSME banking solutions
• Agricultural finance services
• Digital payments platform

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Interest Income: Interest earned from lending activities including retail loans (home, personal, vehicle, education), MSME loans, agricultural loans, and corporate loans. Primary revenue driver representing net interest income of Rs 10,037 crore in Q1 FY27.
2. Fee Income: Non-interest income from processing fees, commission on insurance distribution, mutual fund distribution, and other banking services. Fee income surged 45% to Rs 3,215 crore in Q1 FY27.
3. Treasury Income: Income from investment portfolio and treasury operations, though declined 54.5% impacting overall revenue growth in Q1 FY27.
4. Certificate of Deposit Issuances: CD issuances of Rs 21,175 crore in June 2026 to manage liquidity and funding requirements.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

Union Bank of India is a public sector commercial bank that accepts deposits (savings, current, term, FCNR/Baikwad senior-citizen) and extends credit (personal, home, education, vehicle, gold, MSME, agricultural, and corporate loans), while also providing digital banking, payments (UPI, IMPS, FASTag), credit cards, NRI banking, and third-party distribution of insurance and mutual funds. It serves individual consumers, micro and small enterprises, farmers, large corporates, and non-resident Indians through 8,675+ domestic branches, overseas branches, ATMs, and digital channels including Union Ease, internet banking, WhatsApp Banking, and Uni-Verse Metaverse Banking.

Product overview

Union Bank of India is a major public sector bank offering a comprehensive suite of banking products through physical branches, digital channels, and third-party integrations. The product portfolio spans retail and corporate lending (home loans, personal loans, education loans, vehicle loans, gold loans, MSME loans, agricultural credit via KCC), deposit products (savings, current, and term deposits including NRI-specific FCNR(B) deposits), card products (RuPay, Visa, Mastercard, and JCB debit and credit cards including accessible cards for visually impaired customers), and digital banking services (WhatsApp Banking, Net Banking, Mobile Banking via Union Ease App, UPI, IMPS, FASTag, and the Uni-Verse metaverse banking platform). The bank also distributes insurance and mutual funds, provides treasury and trade finance services, and operates an Account Aggregator platform for financial data sharing. The digital lending ecosystem includes Union Digital Ease (cash-flow based lending) and multiple digital loan origination journeys (Superfast STP for MSMEs, Digital KCC, Digital Kisan Tatkal, Digital Gold Loan, Digital Education Loan).

Differentiator

Problem solved

Functional benefit

Products and services

• Savings Accounts Deposit accounts for individuals and households that earn interest and provide liquidity, including salary, premium, and senior-citizen variants. Targeted at retail customers across India.
• Current Accounts Non-interest-bearing operating accounts for businesses, traders, institutions, and government entities, with cash management and digital collection features.
• Baikwad Senior Citizen Fixed Deposit Term deposit scheme offering an additional interest rate benefit to senior citizens on fixed deposits held with the bank. Targeted at resident senior citizen retail customers.
• Home Loans Lending product for purchase, construction, renovation, and extension of residential property, offered to salaried and self-employed individuals across India.
• Personal Loans Unsecured retail loans for consumption, medical, travel, and other personal needs, disbursed to salaried and self-employed individuals.
• Education Loans Loans for higher education in India and abroad, including tuition, accommodation, and other related expenses, targeted at students and their parents/guardians.
• MSME Loans (Union MSME Loan, Union Laghu Udyami Card, Union Shishu Mudra) Working capital and term loan products for micro, small, and medium enterprises, including flagship schemes such as Union MSME Loan, Union Laghu Udyami Card, and Union Shishu Mudra under the MUDRA framework. Targeted at MSME borrowers across India.
• Agricultural Loans (including Kisan Credit Card) Crop loans, term finance, and allied-agriculture advances extended under priority-sector and government-sponsored schemes, including the Kisan Credit Card programme. Targeted at farmers, dairy/poultry operators, and agri-allied borrowers.
• Corporate Banking Services Cash credit, term loans, project finance, trade finance, treasury, and cash management services for large corporates, public sector undertakings, and institutional clients.
• NRI Banking Services Deposit, remittance, foreign-currency loan, and investment products for Non-Resident Indians, delivered through overseas branches and dedicated digital services.
• FASTag Services Issuance, reissuance, and recharge of FASTag prepaid electronic toll collection cards linked to customer bank accounts, for use on national highway toll plazas. Targeted at individual and fleet vehicle owners.
• Credit Cards Issuance of Visa, RuPay, and other network-branded credit cards to retail customers, including lifestyle, fuel, and reward variants.
• Union Ease Digital Banking Platform Mobile banking application providing account access, funds transfer (UPI, IMPS, NEFT, RTGS), bill payments, card management, and other digital banking services. Targeted at the bank's retail and corporate customers.
• Uni-Verse Metaverse Banking Immersive 3D metaverse-based banking environment that allows customers to interact with the bank's digital services. Targeted at digitally engaged retail customers.
• Third-Party Insurance and Mutual Fund Distribution Distribution of life and general insurance products and mutual fund schemes of partner providers to bank customers as a fee-based distribution service.

Quantifiable outcome

• Asset quality improvement - Gross NPA reduced from 11.00% (March 2022) to 2.65% (Q1 FY27)
• +3 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Four partnerships are on record, tiered major, core and minor.

• Andhra Pradesh GovernmentmajorStrategic or Co-development Partner · 17 July 2026Union Bank participated in credit outreach programme with CM Naidu and FM Sitharaman distributing Rs 3,216 crore loans to over 1 lakh beneficiaries in agriculture, MSMEs, housing, education, and solar sectors.
• LeegalitycoreTechnology or Integration · 14 July 2026Union Bank of India engaged Leegality's Consentin platform for DPDP compliance, implementing cookie consent on corporate website with broader consent management and data discovery capabilities being deployed across the bank's applications.
• Palghar District AdministrationminorStrategic or Co-development Partner · 3 June 2026Palghar district administration shifted Vadhvan Port Project compensation accounts to Union Bank for transparency and accountability, leveraging bank's experience with Mumbai-Ahmedabad Bullet Train Project accounts.
• Kanika Pasricha (Economist)minorOthers · 3 June 2026Kanika Pasricha, Union Bank's economist, participated in ET Now panel discussing rupee trajectory and potential triggers for currency movements.

Scale indicators12 records

Recent moves13 records

Expansion highlights6 records

Direct peers

• State Bank of India: India's largest public sector bank with similar comprehensive retail, MSME, agricultural, and corporate banking services, plus a global branch network. Directly comparable as a PSU peer with government ownership, universal banking model, and NRI focus.
• Bank of Baroda: Major PSU bank with comparable universal banking offerings including retail, MSME, corporate, and international banking (UAE, UK, US operations). Closely comparable as another government-owned bank pursuing digital transformation and post-merger integration.
• Punjab National Bank: Top-5 Indian PSU bank offering similar mass-market retail and corporate banking services. Direct peer in scale, government ownership structure, and product mix, though with a different geographic concentration.
• Canara Bank: Large PSU bank that completed its own amalgamation (Syndicate Bank merger) and offers comparable retail, MSME, and corporate banking. Comparable in scale and government ownership, with similar post-merger integration challenges.
• Indian Bank: PSU bank that absorbed Allahabad Bank, offering similar universal banking services across retail, MSME, agriculture, and corporate segments. Direct peer in PSU banking with government ownership and comparable digital transformation efforts.
• Bank of India: Government-owned PSU bank with comparable retail, MSME, and corporate banking products plus international presence. Similar size tier and customer base to Union Bank of India with overlapping product portfolio.
• Central Bank of India: Government-owned PSU bank with similar mass-market retail and agricultural lending focus. Comparable in operating model, regulatory status, and customer segmentation including rural and priority sector lending.

Broad incumbents

• HDFC Bank: India's largest private sector bank offering comprehensive retail and corporate banking with leading digital capabilities. Represents the competitive benchmark for digital banking and CASA mobilization that Union Bank is追赶.
• ICICI Bank: Major private sector bank with strong retail, MSME, and corporate banking franchise plus digital leadership. Comparable as a universal bank competitor with superior profitability metrics that Union Bank benchmarks against.
• Axis Bank: Large private sector bank with diversified retail, MSME, and corporate banking plus growing international presence. Comparable as a private-sector competitor offering similar products with faster digital adoption.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks1 record

Key highlights7 records

Customer concentration

• Xx.com/UnionBankTweets
• YouTubeyoutube.com/@UnionBankofIndiaUTube
• Facebookfacebook.com/UnionBankOfIndia
• LinkedInlinkedin.com/company/unionbankofindia
• Instagraminstagram.com/unionbankinsta

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries4 records

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments14 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Union Bank of India