Union Bank of India — Important, 04-01-2025: General Updates

Total advances for Union Bank of India have crossed ₹9.49 trillion, reflecting a YoY growth of 5.93% as of the end of December 2024. The bank's domestic RAM (Retail, Agriculture, and MSME) advances reached ₹5.17 trillion, up by 6.10% YoY, while domestic retail advances surpassed ₹2.01 trillion, marking a robust growth of 16.35% YoY.

In terms of total business dynamics, the bank reported global business at ₹21,65,632 crore, slightly down by 0.24% QoQ but up by 4.70% YoY. Total global deposits stood at ₹12,16,562 crore, showing a QoQ decrease of 2.04% and a YoY increase of 3.76%. Domestic CASA deposits dipped marginally by 0.23% QoQ and 0.44% YoY, indicating stability but warranting close monitoring. This performance generally signifies a positive outlook with strong growth in retail banking, enhancing the bank’s competitive positioning in the sector.