NEWS & ADVICE : AUTO INSURANCE
UBI bank needs to focus on the recovery of its bad loans
By Neelima Shankar
May 1, 2014
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In past few months united bank of India went through a very bad phase. The Bad loans of the bank were very high. Now the govt. of India has asked the UBI bank to focus on recovery of the bad loans and clean up its balance sheet which is being strained by these bad assets.

It has been reported that govt. holds for the 88% stake in the bank. The Ministry has asked the bank to do a task to improve the asset quality. The ED of the bank reported that they have done well and ministry wants them to keep up with the same performance. The bank is believed to have recovered and upgraded bad loans to the tune of Rs 2,000 crore between January and March while fresh slippages during the quarter amounted to less than Rs 500 crore. The lender started recovery in earnest since January after its bad loans swelled in the October-December 2013 quarter.


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