United Bank of India’s bad loan proportion rose substantially as gross NPAs rose to 17.17% of the gross advances by end June from 14.29% as on 30 June 2016. Photo: Indranil Bhoumik/MintNew Delhi: State-owned United Bank of India (UBI) on Saturday reported a net loss of Rs211.46 crore during the first quarter ended June, on rise in non-performing assets (NPAs) and higher provisioning. Total income of the bank during the reported quarter was marginally up at Rs2,852.61 crore as against Rs2,819.37 crore year ago, the bank said in a regulatory filing. Bank’s bad loan proportion rose substantially as gross NPAs rose to 17.17% of the gross advances by end June from 14.29% as on 30 June 2016. The Kolkata-headquartered lender said its total deposits increased by 7.26% to Rs1,25,305 crore from Rs1,16,820 crore in the year-ago period.

Source: Mint August 12, 2017 15:48 UTC