A Staff ReporterCalcutta: The profitability of United Bank of India took a hit in the third quarter on account of a dip in trading income and rise in bad loan provisioning. The net loss of the city-based public sector bank for the quarter ended December 31, 2017, was Rs 637.53 crore compared with a profit of Rs 64.10 crore in the corresponding quarter a year ago. Total income stood at Rs 2,483.01 crore compared with Rs 3,086.06 crore in the year-ago quarter. The gross non-performing asset ratio of the bank during the quarter was 20.10 per cent against 15.98 per cent in the year-ago period. "The interest expenditure during the quarter has reduced by 13.31 per cent year-on-year, while the interest income is down by only 11.77 per cent, keeping the spread on interest almost flat.

Source: The Telegraph February 12, 2018 19:07 UTC