Union Bank Q2 Updates: Total Advances Rises 9.63% YoY to Rs 9.28 lakh crore
The bank's total business as of September 30 increased by 9.36% year-on-year, reaching over Rs 21.7 lakh crore.
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.
Read Also : HDFC Bank increases MCLR rates on two tenures, borrowing costs set to rise, Check detailsIn 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.
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