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Tuesday, Oct 22, 2002

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Money & Banking - Private Banks

United Western net down in Q2

Our Bureau

MUMBAI, Oct. 21

THE Satara-based United Western Bank posted a marginally lower net profit of Rs 85 lakh for the second quarter ended September 30, 2002 as compared to Rs 88 lakh for the same period the previous year.

The interest earned decreased to Rs 120.75 crore (Rs 121.04 crore) in the second quarter. Total income was at Rs 143.41 crore (Rs 143.59 crore).

Operating expenses increased to Rs 29.01 crore (Rs 24.81 crore). Total expenditure decreased to Rs 115.70 crore (Rs 124.64 crore). Operating profit rose to Rs 27.71 crore (Rs 18.96 crore). Other provisions and contingencies rose to Rs 21.76 crore from Rs 15.07 crore. The capital adequacy ratio rose to 10.03 per cent (9.55 per cent).

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