United Bank of India slips into red, posts Q2 loss of Rs 345 cr

Bank has posted a net profit of Rs 44 crore in the same period last financial year

Kolkata-based United Bank of India posted a net loss of about Rs 345 crore for the second quarter of the present financial year, against a net profit of Rs 44 crore in the same period last financial year.

The bank's provision coverage ratio (PCR) stood at 57.41 per cent at the end of Q2FY18, against 51.70 per cent at the end of Q2FY17. Its provisions in the last quarter stood at about Rs 753 crore, against Rs 401 crore at the end of Q2 of FY17.

The bank's gross non-performing assets (NPA) stood at 18.80 per cent, while net NPA stood at 16.26 per cent, at the end of last quarter. In absolute terms, the gross NPA at the end of the last quarter stood at about Rs 12,893 crore, against Rs 11,134 crore at the end of same period last financial year. The bank's net NPA stood at about Rs 7,280 crore at the end of last quarter, against Rs 7,185 crore in the same period last financial year.

The bank's net interest income (NII) remained almost flat at Rs 376 crore in the quarter under consideration.