We are moving our sites to new servers and some things might not work during this transition. Worry not, we will be done soon.
San Diego Indian Community - SDIndian.com
| | | | | | | | | | |
 


 

UBI posts Rs 211.46 crore net loss in Q1


West Bengal,National,Business/Economy


Author : Indo Asian News Service

Business/Economy, National, West Bengal Read Latest News and Articles

Share With Your Friends

Add To My Favorite     Add A Picture

Add an Article

View All Contributions

Kolkata, Aug 12 (IANS) State-run lender United Bank of India (UBI) on Friday reported a net loss of Rs 211.46 crore in the quarter ended June 30, 2017 as compared to a net profit of Rs 38.32 crore in the year-ago period.

The bank's total income during the period was at Rs 2,852.61 crore, up marginally from 2,819.37 crore in same period last year.

In spite of a strong 29.5 per cent rise in operating profit at Rs 423.63 crore, backed by nearly two-fold jump in other income, the bank suffered the net loss during the quarter as provisions for bad loans surged.

The lender's provision for non-performing assets (NPAs) in the quarter under review, stood at Rs 732.53 crore in the quarter, up by a whopping 155 per cent from Rs 287.02 crore in the corresponding quarter last year.

It said its provision coverage ratio was at 55.76 per cent in June quarter, as against 52.47 per cent in the year-ago period.

In the quarter, its asset quality worsened because gross NPAs grew by 20.25 per cent to Rs 12,164.90 crore from Rs 10,116.13 crore in the corresponding period last year.

--IANS

bdc/vd

   Groupon Deals 
 More...
Full-Service Oil Change with Tire Rotation and Brake Inspection at A1 Automotive (55% Off)
Full-Service Oil Change with Tire Rotation and Brake Inspection at A1 Automotive (55% Off) - Los Angeles, California
Golf-Swing Evaluation and Instruction at The Golf Academy/LA (Up to 74% Off). Three Options Available.
Golf-Swing Evaluation and Instruction at The Golf Academy/LA (Up to 74% Off). Three Options Available. - Los Angeles, California
$15 for $30 Worth of Japanese Food at Hokkaido Noodle House
$15 for $30 Worth of Japanese Food at Hokkaido Noodle House - Roseville, California
$33 for a Haircut with Aveda Purescription Conditioning Treatment at Strands Salon and Spa ($70 Value)
$33 for a Haircut with Aveda Purescription Conditioning Treatment at Strands Salon and Spa ($70 Value) - Sacramento, California
Three Eyebrow or Full-Face Threading Sessions at IBar San Francisco (Up to 50% Off)
Three Eyebrow or Full-Face Threading Sessions at IBar San Francisco (Up to 50% Off) - San Francisco, California


Latest Showbiz News

View More News


More News Articles

Will speak up if I face sexual harassment, says Gauahar

Zeenat Aman turns 66, speaks of lessons learnt in life

Pooja Hegde catwalks for a cause

From 'Miss Campus Princess' to 'Miss World': Manushi Chillar's ascent within a year

Salman, Katrina's 'beautiful bond'