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United Bank of India makes Rs. 42 crore profit in Q3

India Blooms News Service | | Feb 11, 2015, at 12:27 am

#United Bank of India makes Rs. 42 crore profit in Q3

Kolkata, Feb 10 (IBNS): United Bank of India (UBI) made the Net Profit of Rs. 42 crore in Quarter 3rd of Financial Year 2014-15 against a Net Loss of Rs. 1238 crore in Q3 of FY 2013-14.

The operating Profit rose to Rs. 603 crore in Quarter 3rd of Financial Year 2014-15 from Rs. 545 crore in Q3 of FY 2013-14.

These were stated by P. Srinivas, the Managing Director and Chief Executive Officer of UBI here on Tuesday.

He said that the bank’s Operating Profit reached Rs. 1636 crore during the first nine months of the current financial year, against Rs. 1519 crore during the same period in last year.

The Net Profit, he added, stood at Rs. 151 crore, in the first nine months of the current financial year against a Net Loss of Rs. 1683 crore in the corresponding period of 2013-14. Total business of the United Bank of India reached to Rs. 170005 crore in December 2014 and the Credit Deposit Ratio stood at 61.75% as at December 2014.

Srinivas also said that Bank’s Gross NPA came down from Rs. 8546 crore as on December 2013 to Rs. 7809 crore in December 2014. During the same period Bank’s total credit came down from Rs. 78976 crore in December 2013 to Rs. 64899 crore in December 2014. Accordingly, Gross NPA ratio increased to 12.03% as on December, 2014.

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