Union Bank reports 24.45 per cent rise in global business to over Rs3,20,000 crore

Union Bank of India has reported a 24.45 per cent year-on-year growth in its global business during the April-December period of the current financial year ending 31 March 2011.  

As of end-December 2010, the bank's deposits recorded a growth of 23.6 per cent and reached a level of Rs1,86,000 crore while advances grew 25.6 per cent to reach Rs1,34,000 crore, Union Bank said in a stock exchange filing.

The bank is currently focusing on human resource development towards better customer service. It has also engaged consultants in the areas of HRD and customer relations.

Union Bank said it was aiming both at better customer experience and rising profit levels by 2012 as the bank enters its centenary year.

The bank has, meanwhile, won an award for `Excellence in Corporate Governance' from the Institute of Company Secretaries of India.

State-owned Union Bank of India is expecting Rs1,150 crore capital infusion from the government by March 2011, which will increase the centre's stake to 58 per cent.