Union Bank of India reports 11.44% growth in gross global advances

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Union Bank of India (UBI) has reported a 11.44 per cent year-on-year (y-o-y) growth in gross global advances and 10.09 per cent y-o-y growth in total global deposits in the third quarter ended December 31, 2023.

As at December-end 2023, the public sector bank’s gross global advances and total global deposits stood at ₹8,95,973 crore and ₹11,72,456 crore, respectively, per the bank’s quarter-end business update.

Domestic advances and deposits were up 10.69 per cent y-o-y (to ₹8,66,689 crore) and 8.54 per cent y-o-y (to ₹11,54,326 crore), respectively.

Domestic CASA (current account, savings account) deposits declined to 34.39 per cent of domestic deposits against 35.34 per cent in the year ago quarter.

Domestic RAM (retail, agriculture and MSME) advances proportion increased to 56.27 per cent of domestic advances against 54.71 per cent.