Union Bank's Loan Book Expands 8.6% In March Quarter

Union Bank of India reported an 8.6% year-on-year rise in global advances to ₹9.83 trillion as of March 31, according to provisional data released Friday. Global deposits were at ₹13.10 trillion, up 7.2% on year, pushing the bank’s total business to ₹22.93 trillion, a growth of 7.8%.

Domestic advances stood at ₹9.46 trillion, rising 8.3% on year, with the bulk comprising loans to the retail, agriculture, and micro, small and medium enterprise segments, which together accounted for ₹5.34 trillion.

Domestic deposits grew 6.1% to ₹12.72 trillion. Of this, current account and savings account deposits were ₹4.26 trillion.