Union Bank of India has issued a formal statement addressing recent media reports concerning fluctuations in deposit levels. The Bank categorically refuted claims of instability, affirming that its financial health remains robust. Management highlighted that deposit growth, particularly in Current Account Saving Account (CASA), remains consistent with strategic objectives and industry norms. The Bank emphasized that its financial statements are backed by rigorous audit processes and reaffirmed its commitment to transparency and sound governance.
Addressing Market Speculation
In response to recent news articles regarding deposit variations, Union Bank of India has clarified that the reports appear to be based on unverified information containing factual inaccuracies. The Bank maintains that its financial performance is subject to strict audit scrutiny, resulting in unmodified audit reports that reflect a true and fair view of its financial standing.
Deposit Performance Highlights
To provide clarity on its operational performance, the Bank released a snapshot of its deposit growth. As of March 31, 2026, the Total Deposits stood at ₹13,06,891 crore, with CASA deposits reaching ₹4,60,077 crore. The Bank noted that fluctuations immediately following the financial year-end are a standard occurrence within the banking sector.
Strategic Growth in CASA
The Bank continues to prioritize liability accretion through strategic initiatives. Data for the period of April 1, 2026, to April 28, 2026, shows that average total deposits and CASA figures are performing well above the average benchmarks recorded in Q4 (January–March) of FY 2025-26. This sustained growth underscores the stability and inherent strength of the Bank’s franchise.
Commitment to Transparency
Union Bank of India concluded its statement by confirming that the referenced media reports have no material impact on its financial position or ongoing operations. Shareholders and stakeholders are encouraged to rely exclusively on the verified financial disclosures and investor presentations provided directly by the Bank.
Source: BSE
