United Bank Q2 net rises 16% to Rs 144 cr

Total income of the bank was Rs 2,532.39 crore, up from Rs 2,101.51 crore in the corresponding period of 2011-12

United Bank of India today reported 16% rise in its net profit at Rs 144.63 crore for the second quarter ended September, 2012.

The bank's net profit in the same quarter a year ago stood at Rs 124.77 crore, the company said in a filing to the BSE.

Total income of the bank during July-September 2012 quarter was Rs 2,532.39 crore, up from Rs 2,101.51 crore in the corresponding period of 2011-12.

Income of the bank from other sources increased to Rs 241.87 crore from Rs 162.01 crore, while income on investments increased to Rs 553.15 crore from Rs 463.44 crore.

 

The net NPA (Non-Performing Assets) of the bank improved to 1.95% in the second quarter from 2.21% a year earlier.

Shares of United Bank of India closed at Rs 64.95 apiece on the BSE today, down 2.26% from their previous close.