Indian Banks Show Robust Growth in Credit and Deposits

Union Bank of India reported an 8.6% credit growth to Rs 9.82 lakh crore for the March 2025 quarter, with total advances and deposits showing steady increases. Meanwhile, J&K Bank and Ujjivan Small Finance Bank also posted impressive growth in their respective advances and deposits for the same period.

State-owned Union Bank of India announced a notable financial milestone in the March 2025 quarter, with a credit growth of 8.6% amounting to Rs 9.82 lakh crore. The bank's advances increased from Rs 9.04 lakh crore at the same quarter end last year. Additionally, the bank observed a 7.22% rise in total deposits reaching Rs 13.09 lakh crore.

Union Bank's overall business experienced a 7.8% increase, reflecting a total of Rs 22.92 lakh crore by the end of March. This highlights a steady performance compared to Rs 21.26 lakh crore at the same point in the prior year.

Similarly, J&K Bank reported a 10.3% rise in advances, while its deposits grew by 10.2%. Ujjivan Small Finance Bank also marked a 7.9% increase in advances during the same period, showcasing broadly positive financial dynamics across different banking sectors.

(With inputs from agencies.)