Union Bank of India shares drop 5% post Q1 business update, global business decline marginally on quarterly basis

Union Bank of India shares fell 5 percent to an intraday low of Rs 161.65 after its Q1FY27 business update showed a marginal 0.24 percent QoQ decline in global business to Rs 23.79 lakh crore, though YoY growth stood at 7.46 percent. Total gross advances rose 12.50 percent YoY to Rs 10.96 lakh crore, while deposits grew 3.50 percent YoY but declined 1.80 percent QoQ. The bank also announced a senior management change through a separate exchange filing.