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United Bank of India posts Rs 124-cr net profit in September quarter

The Kolkata-based bank had reported a net loss of Rs 883 crore in the same quarter last year

United Bank of India, UBI, United, United Bank

United Bank of India | Photo: Wikimedia Commons

Namrata Acharya
Kolkata-based United Bank of India has posted a net profit of Rs 124 crore in the July-September quarter of 2019-20, against a net loss of Rs 883 crore in the same period last financial year.

This was the third straight quarter in which the bank had posted profits, led mainly by high interest and non-interest income, better recoveries and treasury gains, said United Bank Managing Director & Chief Executive Officer Ashok Kumar Pradhan. The bank could make a cash recovery of about Rs 520 crore in the quarter. So far this financial year, the bank has made cash recoveries to

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First Published: Oct 30 2019 | 6:29 PM IST

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