United Bank of India, after successive loss, posts Rs 95 cr profit for Q4

The gross NPA of the bank as a percentage of total lending in the last quarter stood at 16.48 per cent in the last quarter, against 24.10 per cent in the same period of the previous financial year

United Bank of India, after successive quarters of loss, on Monday posted a net profit of Rs 95.18 crore for Q4 of FY19, against a net loss of Rs 261 crore in the same period of the last financial year. In Q3 of FY19, the bank had posted a net loss of about Rs 1,139 crore.

“We majorly focused on recovery of written off assets. We could recover around Rs 343 crore this financial year through recovery from sale of written off assets, against about Rs 107 crore in the last financial year, which was a major contributor to profitability,”