United Bank of India net loss widens to Rs 8.8 billion; gross NPA rises

The gross NPA as a percentage of total lending stood at 22.69%, while net NPA stood at 14.36%

United Bank of India posted a net loss of Rs 8.83 billion for the quarter ended-September, against a net loss of Rs 3.44 billion in the year-ago period. Sequentially, too, its losses more than doubled to Rs 3.88 billion. The total provisions doubled to Rs 14.81 billion, against Rs 7.5 billion in the year-ago period.

The gross NPA as a percentage of total lending stood at 22.69 per cent, while net NPA stood at 14.36 per cent. In the year-ago period, it stood at 18.80 per cent, while net NPA was 11.63 per cent.

The bank’s capital adequacy ratio stood