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Dragged down by higher provisioning and a dip in core income, United Bank of India posted a net loss of ₹345 crore for the quarter ended September 30, compared with a profit of ₹44 crore in the same period last year.
Net interest income remained almost flat at ₹376.26 crore (₹376.40 crore in the same period last year). Other income dropped 23 per cent to ₹509 crore (₹661 crore). Provision-coverage ratio increased to 57.41 per cent (51.70 per cent) during the quarter under review. Gross non-performing assets (GNPA) as a percentage of total loans rose to 18.8 per cent (16.26 per cent), while net NPAs grew to 11.63 per cent (11.19 per cent).
While deposits increased 7 per cent to ₹1,26,322 crore, growth in advances remained almost flat at ₹68,562 crore.
The bank’s capital adequacy ratio stood at 10.7 per cent (10.88 per cent).
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