Moneycontrol
May 19, 2017 09:44 AM IST | Source: Moneycontrol.com

United Bank of India gains 5% as it turns profitable in Q4

The company has reported net profit at Rs 73.5 crore in the quarter ended March 2017 against loss of Rs 413 crore, in the same quarter last fiscal.

 
 
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Shares of United Bank of India gained 5.5 percent intraday Friday as it turned profitable in the quarter ended March 2017 (Q4FY17).

The company has reported net profit at Rs 73.5 crore in the quarter ended March 2017 against loss of Rs 413 crore, in the same quarter last fiscal.

Net interest income has increased by 23.8 percent at Rs 502 crore versus Rs 405.5 crore.

The gross NPA of the bank was at 15.53 percent and net NPA was at 10.02 percent, Q-o-Q.

During the quarter the total advance of the bank has increased by 3.89 percent over the previous quarter.

CASA deposit of the bank is stable at around 47 percent of the total deposits and growing by 23 percent, Y-o-Y.

At 09:36 hrs United Bank of India was quoting at Rs 22.65, up Rs 0.55, or 2.49 percent on the BSE.

Posted by Rakesh Patil
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