A sharp decline has been seen in government banks today. Nifty PSU Bank Index closed down about 4 percent. Talking about why government banks are breaking down, CNBC-Awaaz’s Yatin Mota said that business in all government banks is declining. Public sector banks are worried about weak quarterly updates and decline in deposits. Loan growth compared to deposits has been good in the third quarter. At the same time, the deposit growth of public sector banks is less than expected. Due to this, public sector banks have been badly beaten today.
UNION BANK If we look at the third quarter update, the total business (global) of the bank has declined by 0.24 percent on a quarterly basis. Whereas on annual basis it has increased by 4.7 percent to Rs 21.65 lakh crore. At the same time, during this period, the total deposits of the bank (globally) have declined by 2.04 percent on quarterly basis. Whereas on annual basis it has increased by 3.76 percent to Rs 12.16 lakh crore. During this period, the bank’s global gross advances have increased by 2.18 percent on a quarterly basis. Whereas on annual basis it has increased by 5.93 percent to Rs 9.49 6 lakh crore. Similarly, the bank’s CASA Deposits have declined by 0.23 percent on a quarterly basis. Whereas on annual basis it declined by 0.44 percent to Rs 3.95 lakh crore.
Bank of Baroda Talking about, the total deposits of the bank in the third quarter stood at Rs 11.66 lakh crore with an increase of 9.23 percent on an annual basis. At the same time, its advances stood at Rs 9.63 lakh crore with an increase of 11.76 percent on an annual basis.
UCO BANK If we look at the third quarter update, there is an increase of 9.37 percent in the total deposits of the bank on quarterly basis during this period. Whereas on annual basis it has increased by 1.45 percent to Rs 2.80 lakh crore. During this period, the bank’s gross advances have increased by 16.2 percent on a quarterly basis. Whereas on annual basis it has increased by 5.05 percent to Rs 2.08 lakh crore.
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IDBI BANK Talking about the business update of the third quarter, the total business of the bank stood at Rs 4.89 lakh crore with an increase of 13 percent on an annual basis. Whereas total deposits have increased by 9 percent on annual basis to Rs 2.82 lakh crore. At the same time, its CASA deposits have increased by 2 percent on annual basis to Rs 1.31 lakh crore. Whereas, Net Advances stood at Rs 2.07 lakh crore with an increase of 18 percent on annual basis.