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 bank’s 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.
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.