Union Bank shares fall 6% amidst surge in total advances and domestic retail Y-o-Y

Shares of Union Bank of India fell 6.49 per cent to ₹116.00 on the BSE at 11.43 AM on Monday.

Union Bank of India informed on January 4 about its financial performance as of December 31, 2024.

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According to its exchange filing ,the bank’s total advances crossed ₹94,9000 crore reflecting a 5.93 per cent year-on-year (YoY) growth. This indicates a positive trend in the bank’s lending activities.

The private lender’s domestic retail advances witnessed a significant surge of 16.35 per cent y-o-y, reaching ₹20,0999 crore as of December 31, 2024. This indicates a strong demand for credit from retail borrowers, which could be attributed to factors like increased consumer spending or loan uptake for various purposes.

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The overall advances of the bank also displayed positive growth, with a 5.93 per cent y-o-y increase.

The stock hit a 52-week high of ₹172.45 on June 6,2024 and it reached a low of ₹106.55 on October 25, 2024 on the BSE.