Saturday, August 19, 2017
News

UBI posts Rs 211.46 crore net loss in Q1

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

Kolkata | Saturday, 2017 11:15:04 PM IST
 
State-run lender United Bank of India (UBI) on Friday reported a net loss of Rs 211.46 crore in the quarter ended June 30, 2017 as compared to a net profit of Rs 38.32 crore in the year-ago period.

The bank's total income during the period was at Rs 2,852.61 crore, up marginally from 2,819.37 crore in same period last year.

In spite of a strong 29.5 per cent rise in operating profit at Rs 423.63 crore, backed by nearly two-fold jump in other income, the bank suffered the net loss during the quarter as provisions for bad loans surged.

The lender's provision for non-performing assets (NPAs) in the quarter under review, stood at Rs 732.53 crore in the quarter, up by a whopping 155 per cent from Rs 287.02 crore in the corresponding quarter last year.

It said its provision coverage ratio was at 55.76 per cent in June quarter, as against 52.47 per cent in the year-ago period.

In the quarter, its asset quality worsened because gross NPAs grew by 20.25 per cent to Rs 12,164.90 crore from Rs 10,116.13 crore in the corresponding period last year.

--IANS bdc/vd

( 202 Words)

2017-08-12-22:50:10 (IANS)

Watch News Videos

 
  LATEST COMMENTS (0)
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
TRENDING TOPICS
 
 
 
CITY NEWS
MORE CITIES
 
MORE BUSINESS NEWS
Tokyo, Washington reaffirm military alli...
Pradhan meets Patnaik on tax dispute bet...
New Android malware steals users' data f...
Vishal Sikka resigns as Infosys CEO, MD...
RiddiSiddhi Bullions Ltd. MD awarded wit...
Seven Hills Beverages Limited to enter c...
More...
 
INDIA WORLD ASIA
LFW 2017: Anavila's fashionable 'blur' e...
Oxford University Press India unveils Ei...
Rudy, Naqvi launch volumes of Naidu's 'T...
Frankfurt sign midfielder Kevin-Prince B...
Quality is beyond service provider contr...
Yechury demands inquiry into MTNL servic...
More...    
 
 Top Stories
Tokyo, Washington reaffirm military... 
Prolonged wait on merger of two fac... 
Trump, top aides seek to overcome d... 
Two dead, at least six hurt in knif... 
Centre awaiting freedom fighters el... 
Odisha CM gets best administrator a... 
NAREDCO's National Conclave in New ... 
Hyd to become biotechnology, Medica...