New Delhi, Jan 9 (KNN) In the third quarter ending on December 31, 2023, Union Bank of India (UBI) saw an 11.44 per cent increase in its gross global advances and a 10.09 per cent rise in total global deposits compared to the same period last year.

As of December 2023, the bank's gross global advances reached Rs 8,95,973 crore, and total global deposits amounted to Rs 11,72,456 crore, according to the bank's quarterly business update.

Domestic advances and deposits also showed growth, with a 10.69 per cent increase (reaching Rs 8,66,689 crore) and an 8.54 per cent rise (reaching Rs 11,54,326 crore) year-on-year, respectively.

However, there were changes in specific areas: Domestic current account and savings account (CASA) deposits declined, making up 34.39 per cent of domestic deposits compared to 35.34 per cent in the same quarter of the previous year.

Conversely, the proportion of domestic retail, agriculture, and MSME (RAM) advances increased to 56.27 per cent of domestic advances, up from 54.71 per cent in the previous year.

(KNN Bureau)