Guidance ledger · Q3 FY26

Union Bank of India UNIONBK

3 revisions on record · 0 lowered · 1 raised — the strikethrough is what management used to say

mixed guidance posture · shifted across quarters

Holding view → · latest concall · The pulse

↑ raised Loan growth posture Q4 FY25 → Q3 FY26

~~guidance withdrawn (8.6% FY25 actual vs guided 11-13%)~~ → better than current Q-o-Q rate, aspiration of industry-level Y-o-Y

“we expect better than this in this quarter”

→ narrowed NIM defense Q1 FY26 → Q3 FY26

~~no specific NIM guidance at Q4FY25; 11 bps moderation already in Q1FY26~~ → defend 2.76%, hope for better

“maybe somewhere between 260 to 265 is the range where we can hit at the minimum level. And from there, we should be able to bounce back effectively around 20-25 basis point for the year.”

→ narrowed Credit cost run-rate Q4 FY25 → Q3 FY26

~~69 bps (Q4FY25 print)~~ → ~26 bps 9M run-rate, aspire to maintain

“our 9-month credit cost is about 26 bps”

Method. Revisions come from management's own stated numbers, compared quarter over quarter across the covered concalls; each carries the verbatim quote. “No revisions” can also mean guidance too vague to pin down — see the posture chip above. Not investment advice.