Union Bank Q2 Updates: Total Advances Rises 9.63% YoY to Rs 9.28 lakh crore

New Delhi: In the quarter ended September, Union Bank of India Ltd.'s total advances increased by 9.63% year-on-year to reach Rs 9.28 lakh crore, as per provisional figures released by the bank.

Additionally, total deposits grew by 9.17% over the previous year to Rs 12.42 lakh crore, as reported in an exchange filing. The bank's total business as of September 30 increased by 9.36% year-on-year, reaching over Rs 21.7 lakh crore.

Domestic advances in the quarter grew 8.88% year-on-year as of Sept. 30., 2024. Earlier last month, the state-run lender said that operations at some of its branches may get affected on Sept. 27 as a section of employees will proceed with a strike.

In September, the All India Union Bank Officers' Federation and the All India Bank Employees Association, which represent a majority of the bank's workers, called a strike on Sept. 27 to "oppose unilateralism of bank management.".

Both the unions have decided to withdraw their strike call, Union Bank said in an exchange filing. However, a joint forum of some other employee unions—AIUBEF, AIUBSF, UBSA, and UBIEU—has decided to go ahead with the strike, it said.