MUMBAI, 8 JANUARY, 2024 (GPN): Bank continues to demonstrate a strong liability franchise:- The CASA deposits increased by 5.62% YoY to Rs.3,97,107 Crore. Total deposit stood at Rs.11,72,455 Crores at the end of Q3FY24.

Q3FY24 Financial Highlights:

Union Bank of India (Consolidated)

Revenue Rs 29801.98 Cr v/s Rs 28952.50 Cr QoQ and Rs 24635.44 Cr YoY with growth of  2.93% and  20.97% resp

PBT Rs 5554.33 Cr v/s Rs 5492.27 Cr QoQ and Rs 3576.39 Cr YoY with growth of  1.13% and 55.31% resp

PAT Rs 3610.40 Cr v/s Rs 3548.25 Cr QoQ and Rs 2236.22 Cr YoY with growth of  1.75% and 61.45% resp

EBIDT Rs 21789.84 Cr v/s Rs 20990.45 Cr QoQ and Rs 15818.07 Cr YoY with growth of  3.81% and 37.75% resp

EPS Rs 4.89 v/s Rs 5.14 QoQ and Rs 3.31 YoY with growth of  -4.86% and 47.73% resp

Interest Rs 16235.51 Cr v/s Rs 15498.18 Cr QoQ and Rs 12241.68 Cr YoY with growth of 4.76% and 32.62% resp

(Standalone)

Revenue Rs 29137.26 Cr v/s Rs 28282.13 Cr QoQ and Rs 24153.68 Cr YoY with growth of  3.02% and  20.63% resp

PBT Rs 5529.76 Cr v/s Rs 5452.97 Cr QoQ and Rs 3582.24 Cr YoY with growth of 1.41% and 54.37% resp

PAT Rs 3589.91 Cr v/s Rs 3511.42 Cr QoQ and Rs 2244.80 Cr YoY with growth of 2.24% and 59.92% resp

EBIDT Rs 21724.71 Cr v/s Rs 20913.88 Cr QoQ and Rs 15838.02 Cr YoY with growth of  3.88% and 37.17% resp

EPS Rs 4.84 v/s Rs 5.06 QoQ and Rs 3.28 YoY with growth of -4.35% and 47.56% resp

Interest Rs 16194.95 Cr v/s Rs 15460.91 Cr QoQ and Rs 12254.78 Cr YoY with growth of 4.75% and 32.15% resp

Gross NPA Rs 43261.88 Cr v/s Rs 54012.26 Cr QoQ and Rs 63770.16 Cr YoY with growth of -19.90% and -32.16% resp

Net NPA Rs 9351.23 Cr v/s Rs 10421.01 Cr QoQ and Rs 16195.11 Cr YoY with growth of -10.27% and -42.26% respectively.

Shares of Union Bank of India jumped nearly 1.5 percent in early trade on January 8, post registering an 11.44 percent growth in Q3 advances on-year basis. At 9:15am, the Union Bank of India stock was trading at Rs 125.12 on NSE.

Union Bank of India, a public sector bank, reported a significant growth of 10.67 percent year-on-year (YoY) in its total business, surpassing Rs 20.68 lakh crore in the December FY24 quarter. The bank’s total advances experienced an 11.44 percent YoY increase, reaching Rs 8.96 lakh crore, while deposits saw a notable 10.09 percent jump to Rs 11.72 lakh crore during Q3FY24.

In the domestic market, Union Bank of India witnessed an 8.54 percent YoY growth in deposits, totaling Rs 11.54 lakh crore. Concurrently, domestic advances rose by 10.69 percent, reaching Rs 8.66 lakh crore, according to provisional figures.

Further, the noteworthy increase in advances and deposits underlines the bank’s effective financial management and its ability to attract and deploy funds efficiently. Union Bank of India’s Q3FY24 performance underscores its significant contribution to the stability and growth of the banking sector in India.

Union Bank of India is likely to post it’s Q4FY24 and 12M FY24 Financial Results in May 2024 for the Quarter and full year ending 31st March, 2024.

#UnionBankOfIndia #GoodPeopleToBankWith