United Bank ofIndia Q2 net profit rises 41 per cent to Rs 62 crore

KOLKATA: United Bank ofIndia (UBI) has reported a 41.23 per cent rise in net profit for the second quarter of this fiscal at Rs 61.86 crore, compared to Rs 43.80 crore in the corresponding period last year. Operating profit during the quarter increased 12.9 per cent to Rs 518.22 crore as against Rs 459.06 crore in the previous corresponding period, the bank said in a statement.

Total income increased 3.24 per cent to Rs 2,927 crore while interest income stood at Rs 2,553 crore, an increase of 2.22 per cent during the quarter. NIM of the bank stood at 2.24 per cent. Gross NPA stood at Rs 6,112.21 crore, down by 13.60 per cent, it said.

The total business of the bank during the quarter increased by Rs 9,565 crore, registering a moderate growth of 5.61 per cent. Deposits grew by Rs 6,531 crore, a rise of 6.22 per cent. Advances saw a muted growth of 4.62 per cent to Rs 3.034 crore.