Union Bank of India slipped 6.45% to Rs 116.05 after the public lender reported 2.36% decline in domestic deposits to Rs 11,82,623 crore as on 31 December 2024 as against Rs 12,11,178 crore posted as of 30 September 2024.
On YoY basis, the domestic deposits rose 2.45% from Rs 11,54,325 crore as on 31 December 2023.The bank recorded 5.3% growth in domestic advances to Rs 9,12,842 crore as of 31 December 2024 as against Rs 8,66,689 crore as of 31 December 2023 and 2.06% increase from Rs 8,94,404 crore as on 30 September 2024.
Domestic CASA deposits was at Rs 3,95,364 crore during the quarter, registering de-growth of 0.44% year on year (YoY) and 0.23% quarter on quarter (QoQ).
The banks total global business as on 31 Decemeber 2024 stood at Rs 21,65,632 crore, up 4.70% YoY and 0.24% QoQ.
Global gross advances gained 5.93% YoY and 2.18% QoQ to Rs 9,49,070 crore as on 31 December 2024.
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Global deposits stood at Rs 12,16,562 crore during the period under review (up 3.76% YoY and down 2.04% QoQ).
Union Bank of India is engaged in the business of treasury operations, corporate and wholesale banking, retail banking operations and other banking operations. The Government of India held 74.76% stake in the bank.
The public lender's standalone net profit jumped 34.41% to Rs 4,719.74 crore on 13.27% increase in total income to Rs 32036.46 crore in Q2 FY25 over Q2 FY24.
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