Union Bank of India has addressed recent media reports concerning variations in deposits among certain private and public sector banks, including itself. The bank clarified that the reports appear to be based on an unverified letter, which contains factual inaccuracies. Union Bank emphasised that its financial statements undergo rigorous audits, with auditors issuing unmodified reports affirming their accuracy in compliance with regulatory and accounting standards.
The bank highlighted its continued focus on liability accretion, particularly through CASA (Current Account Saving Account) deposits. Strategic initiatives have been implemented to bolster this area, as detailed in the bank’s investor presentation. As of 28 April 2026, Union Bank reported a total deposit of ₹12,61,308 crore, with CASA deposits amounting to ₹4,30,833 crore. The average total deposit for the period from 1 April 2026 to 28 April 2026 stood at ₹12,65,339 crore, while the average CASA was ₹4,38,169 crore.
Union Bank noted that these figures surpass the average for the fourth quarter of the fiscal year 2025-26, indicating consistent growth and stability. The bank reassured stakeholders that any deposit movements following the financial year-end are typical within the banking industry.
The bank reiterated its commitment to governance, transparency, and regulatory compliance, urging stakeholders to rely on verified disclosures. Union Bank confirmed that the media report in question does not materially impact its financial position or operations.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).