Union Bank of India Stock Price: Shares of state-run bank Union Bank of India fell by up to 7 per cent on January 6 and the price touched a low of Rs 114.80 on BSE. The bank recently released business updates for the December quarter, which till now have been the weakest compared to the business updates released by other banks. Union Bank’s deposits grew by 3.8% on a year-on-year basis during the quarter, but declined by 2% compared to the September quarter.
Growth in advances during the quarter also increased by 5.9% to Rs 9.49 lakh crore compared to last year. It increased by 2.2 percent on quarterly basis. Union Bank’s total business (global) declined 0.24 per cent quarter-on-quarter but grew 4.7 per cent year-on-year to Rs 21.65 lakh crore.
Global Total Deposit Data
Total deposits (global) declined 2.04 per cent quarter-on-quarter and grew 3.76 per cent year-on-year to Rs 12.16 lakh crore. The bank’s global gross advances rose 2.18 per cent quarter-on-quarter to Rs 9.49 lakh crore in the December quarter. There was an increase of 5.93 percent on year-on-year basis.
Domestic CASA deposits declined by 0.23 per cent quarter-on-quarter and 0.44 per cent year-on-year to Rs 3.95 lakh crore. Domestic advances increased by 2.06 per cent quarter-on-quarter and 5.33 per cent year-on-year to Rs 9.13 lakh crore.
Share fell 14 percent in 6 months