Little Rock, Fayetteville, Bentonville Indian Community - ArkansasIndian.com
| | | | | | | | | | |
 


 

UBI posts Rs 211.46 crore net loss in Q1


West Bengal,National,Business/Economy


Author : Indo Asian News Service

Business/Economy, National, West Bengal Read Latest News and Articles

Share With Your Friends

Add To My Favorite     Add A Picture

Add an Article

View All Contributions

Kolkata, Aug 12 (IANS) 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



Latest Showbiz News

View More News


More News Articles

Janhvi a dedicated actor: Shalini Kapoor

Attitude towards married actresses should be changed: Sonam Kapoor

Ayaz an underrated actor: Samir Soni

Sidharth Malhotra turns 33, celebs wish him best of everything

Shibani Kashyap's new song aimed at social media addicts