Union Bank Share Price Rises 2.96% on January 3, 2025

Union Bank of India has been in focus on Friday. On January 3, 2025, Union Bank share price opened at ₹122.60, slightly up from its previous close of ₹121.41. At 11:05 AM, the share price of Union Bank of India was trading at ₹125.00, up by 2.96% on the NSE. The market capitalisation of the company was ₹95,420.07 crore.

Q2 FY 2025 Financial Highlights

The bank’s net profit for Q2 FY25 increased by 34.43% year-on-year (YoY), to ₹4,720 crore. In addition, non-interest income grew significantly by 44.19% YoY to ₹9,047 crore during the same period, contributing to the overall positive results.

The bank continues to demonstrate a robust liability franchise, with domestic deposits rising by 8.12% YoY. As of September 30, 2024, the total deposits amounted to ₹12,41,947 crores, further strengthening the bank’s position in the market.

Business growth is gaining momentum, with total business expanding by 9.37% YoY. Gross advances saw a 9.63% YoY increase, and total deposits grew by 9.17% YoY. The bank’s total business reached ₹21,70,779 crores as of September 30, 2024, highlighting sustained growth.

The bank also witnessed growth in its Retail, Agri, and MSME (RAM) segments, which increased by 12.31% YoY. Within these segments, retail advances grew by 14.33%, agriculture advances by 15.96%, and MSME advances by 5.24%. As a result, RAM advances accounted for 58.71% of the bank’s domestic advances, underlining the importance of these segments to the bank’s overall performance.

About Union Bank of India

Union Bank of India is involved in the business of banking services, merchant banking, agency business insurance, government business, mutual funds, wealth management and more.

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