United Bank of India has recorded a 10.79 per cent increase in net profit at Rs 70.35 crore for the quarter ended June 2006. | |
| "The rise in net profit is owing to an increase in interest income from credit portfolio that has gone up by nearly 32 per cent and lower taxation provision that had to be made," said P K Gupta, chairman and managing director, United Bank. |
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| Meanwhile, decline in trading profit on investment portfolio by around Rs 53 crore compared with corresponding quarter last year and higher depreciation on investment at Rs 69 crore has pulled down the operating profit by 15.66 per cent to Rs 159.55 crore in the quarter compared with previous comparable figure of Rs 189.18 crore. |
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| Total business during the quarter has gone up by 19.55 per cent to Rs 46,304 crore compared with Rs 38,733 crore during the same period in the previous year. |
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| Total deposit during the quarter recorded 15.63 per cent growth to Rs 29,945 crore whereas gross advance stood at Rs 16,367 crore registering a 27.52 per cent growth. |
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| Gross non performing asset has gone down to 4.64 per cent at the end of June quarter 2006-07 from last year's corresponding figure of 5.82 per cent whereas net NPA stood at 1.92 per cent from previous comparable figure of 2.32 per cent. |
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