Anand Rathi Recommends 'BUY' on Union Bank of India; Sets Rs 208 Target

• Anand Rathi maintains a 'BUY' rating for Union Bank of India with a 12-month target price of Rs 208.
• The bank reported another strong quarter with +1%/+15% RoA/RoE, indicating healthy profitability.
• Asset quality remained robust, with gross/net slippages at 78/6bps, showcasing effective risk management.
• Credit growth accelerated by ~200bps sequentially, primarily driven by the retail segment.
• CASA ratio significantly improved by 145bps year-on-year, contributing to stable funding.

Why It Matters: Anand Rathi recommends buying Union Bank of India, projecting a target of Rs 208 due to strong performance.