Business performance robust; strong focus on profitability

12 Dec 2023
5 Min read 
  • Union Bank of India's top management highlighted initiatives to improve underwriting standards and credit growth.
  •  The bank expects credit growth of 10-12% in FY24.
  •  The bank aims to deliver a sustainable RoA of >1% and improve profitability.
  •  The recent increase in risk weight by RBI will impact CET-1 by ~45bp.
  •  Asset quality is improving, with a focus on reducing GNPA/NNPA ratios.
  •  The bank has a strong focus on digital banking and increasing CASA deposits.
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