Kolkata-based public sector lender United Bank of India (UBI)
on Saturday reported a muted growth of just 4% year-on-year in its fourth
quarter (Jan-March) net profit at Rs 149 crore; due to higher provisions
followed by rise in non-performing assets.
During the quarter, provisions rose more than 9% y-o-y to Rs
307 crore while other income too fell 22% to around Rs 7 crore.
The gross non-performing asset ratio shot up from 2.51% to
3.41% at Rs 2,176 crore quarter-on-quarter while net NPA ratio increased from
1.42% to 1.72% at Rs 1,075 crore during the same period.
However, net profit rose 21% y-o-y to Rs 633 crore for the
year ended March 31, 2012. Bank’s loan book expanded 18% y-o-y to Rs 63,043
crore. Deposits grew 14% to Rs 89,116 crore.
Bank's capital adequacy ratio stood at 12.69% vs 13.05%
(YoY). During the year, it has allotted 1.65 lakh crore shares of Rs 10 each at
a price of Rs 79.74 per share to the Life Insurance Corporation of India.
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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