Union Bank of India reported robust business growth in the September quarter, with total gross advances increasing 18.53% year-on-year to ₹11,55,930 crore as of September 30, 2026. According to the bank's provisional business figures, domestic advances rose 17.36% YoY to ₹11,05,807 crore, up from ₹9,42,273 crore in the same period last year. On a sequential basis, domestic advances grew 4.21% from ₹10,61,128 crore at the end of June, demonstrating consistent quarterly momentum. The strong performance aligns with the bank's provisional figures, which were released ahead of the declaration of financial results for the quarter ended September 30, 2026.
The bank's CASA deposits increased 14.66% YoY to ₹4,60,697 crore, from ₹4,01,809 crore a year earlier, while growing 2.33% sequentially from the previous quarter. Union Bank's domestic CASA ratio stood at 34.93% as of September 30, compared with 35.10% in June and 32.56% a year earlier. The bank's total global deposits reached ₹13,19,457 crore, up 6.87% from ₹12,34,621 crore a year earlier, indicating healthy deposit mobilization across all segments. This performance demonstrates the bank's ability to maintain strong deposit growth while expanding its lending portfolio.
Advances to the retail, agriculture and MSME (RAM) segment rose 14.65% YoY to ₹6,35,527 crore, from ₹5,54,306 crore a year earlier, with RAM advances increasing 4.51% sequentially. The bank's credit-to-deposit ratio for domestic business, excluding bank deposits, stood at 84.34%, compared with 83.38% in the previous quarter and 77.01% a year earlier. This improvement in credit-to-deposit ratio indicates better asset utilization and stronger loan demand. The sustained pace of loan growth comes despite the bank's relatively conservative full-year guidance, with management expecting advances to grow 10-12 percent and deposits 9-10 percent during the year.
Union Bank's total global business rose 12.02% YoY to ₹24,75,387 crore, while domestic business grew 11.41% to ₹24,24,784 crore. As reported by CNBC TV18, the figures are provisional and released ahead of the declaration of financial results for the quarter ended September 30, 2026. The bank's shares closed 2.57% lower at ₹166.60 on October 1, despite the strong business performance indicators. The sustained growth rates in both advances and deposits demonstrate the bank's ability to outperform its full-year guidance targets, with global business growth of 15.83% year-on-year at ₹30.71 lakh crore, compared with 14.37% growth in Q1.
