Union Bank of India has posted significant growth in its key financial metrics, demonstrating a positive trajectory in the last quarter of 2024. The bank’s total advances crossed ₹9,49,070 Crore, reflecting a robust year-on-year (YoY) growth of 5.93% as of 31st December 2024.
Here are the key highlights of the bank’s performance:
Total Business (Global)
The total business of Union Bank of India (global) stood at ₹21,65,632 Crore, witnessing a modest quarter-on-quarter (Q-o-Q) decline of 0.24%, but registering a 4.70% increase on a YoY basis.
Total Deposits (Global)
The total global deposits of UBI were recorded at ₹12,16,562 Crore as of December 31, 2024. While there was a slight decrease of 2.04% Q-o-Q, the bank still achieved a 3.76% growth YoY.
Domestic Deposits
The domestic deposits, which amounted to ₹11,82,623 Crore, saw a decline of 2.36% Q-o-Q. However, it still showed a positive 2.45% growth YoY.
CASA Deposits
The domestic Current Account Savings Account (CASA) deposits stood at ₹3,95,364 Crore, showing a slight decline of 0.44% YoY and a small decrease of 0.23% on a Q-o-Q basis.
Gross Advances (Global)
The global gross advances of Union Bank of India stood at ₹9,49,070 Crore, reflecting a solid increase of 5.93% YoY and a growth of 2.18% compared to the previous quarter.
Domestic Advances
The domestic advances totaled ₹9,12,842 Crore, a growth of 5.33% YoY, with a 2.06% increase Q-o-Q.
Domestic RAM Advances
The bank’s domestic RAM (Retail, Agriculture, and MSME) advances grew by 6.10% YoY, reaching ₹5,17,524 Crore. However, the growth was slightly lower than the previous quarter, with a decline of 1.45%.
Domestic Retail Advances
Union Bank of India’s domestic retail advances saw remarkable growth, crossing ₹2,01,801 Crore. This was a significant 16.35% YoY increase, with a 4.90% growth compared to the last quarter.
