Union Bank's credit to grow at lower end of guidance band: MD & CEO

RBI's liquidity infusion to reduce fund costs

Public sector lender Union Bank of India (Union Bank) today said its business—credit and deposits—would grow at a pace closer to the lower end of the guidance range for the current financial year (FY25), reflecting a priority for sustainability over aggressive growth.

 

At the start of the financial year, the Mumbai-based lender had guided for 11–13 per cent growth in advances and 9–11 per cent growth in deposits in FY25. Its advances grew by 5.94 per cent year-on-year (Y-o-Y) to Rs 9.5 trillion, while total deposits increased by 3.76 per cent Y-o-Y to Rs 12.16 trillion as of Q3FY25.

 

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