Three PSU banks that should be on your radar after Q4 business updates

Shares of PSU banks will be in focus on Monday, April 6, after several lenders released their March quarter business updates over the past few days.

Bank of Baroda reported global business of ₹30,78,854 crore, rising 13.93% YoY and 6.47% QoQ. Global deposits grew 12% YoY and 6.58% QoQ, while domestic deposits increased 12.83% YoY and 7.22% sequentially.

Global advances were up 16.23% YoY and 6.34% QoQ, with domestic advances growing 14.56% YoY and 6.68% QoQ.

Punjab National Bank posted global business of ₹29,72,896 crore, up 10.79% YoY and 2.81% QoQ. Global deposits rose 9.25% YoY and 3.08% QoQ, while domestic deposits increased 9.14% YoY and 3.26% sequentially.

The lender's global advances grew 12.97% YoY and 2.45% QoQ, with domestic advances up 12.17% YoY and 2.49% QoQ. Its credit-deposit ratio stood at 73.70%, compared to 74.16% in the previous quarter.

Union Bank of India reported a 5.79% YoY and 6.52% QoQ rise in total global business. Global deposits grew 2.72% YoY and 6.87% QoQ, while advances increased 9.76% YoY and 6.09% sequentially.

Its domestic deposits rose 2.72% YoY and 6.88% QoQ, and domestic advances were up 10.06% YoY and 6.16% QoQ. CASA deposits grew 7.90% YoY and 10.82% QoQ to ₹4.60 lakh crore.

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On Thursday, shares of Bank of Baroda ended 0.81% lower at ₹250, Punjab National Bank rose 0.38% to ₹104.40, and Union Bank of India gained 0.61% to ₹172.68.