NEWS & ADVICE : HOME LOANS
UBI posts 34% rise in net profit for Q3
By Joseph Samson
Jan 21, 2011
Print    Email    RSS   

 

Public sector lender, United Bank of India has booked 34% rise in net profit amounting to Rs 163 crore for the third quarter of this fiscal. The profits for the same period last fiscal amounted to Rs 121 crore.

The operating profits of the bank rose 84% to Rs 387 crore.

The net interest margin (NIM) has also risen to 3.21% in this quarter as compared to 3.04% in the second quarter of this fiscal. There has been an improvement in yield on advances to 10.39% as against 9.46% earlier.

"The growth in low cost deposits has offset the rise in deposit rates," the bank CMD Bhaskar Sen said. Considering deposit rate hike, he said, "As of now, we have no plans... but we have to review the rates time to time depending on the market condition."

Asset quality however still continues to be a concern for the bank. As on December 30, 2010 the gross and net NPAs of the bank stood at 2.93% and 1.52% respectively.

 

 


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
IBA to push for MIBOR as the benchmark rate
Your EMIs may help you to reduce your tax...
Carnival of Indian Personal Finance Blogs#10
Carnival of Indian Personal Finance Blogs #1
Are you ready to file your taxes? Please...


How many amount loans in my a/c no 14950610011492
PINJORE: CaℒL Giℛℒs In PiNjOrE 09915787550...
PINJORE: CaℒL Giℛℒ In PiNjOrE 09915787550...
how to gate my home loan certificate

NEWS THIS WEEK
Canara Bank earned a profit of 60%. Feb 6, 2015
New Branch of Laxmi Vilas bank at Vijayawada Jan 30, 2015
Home loan EMIs expected to drop down Jan 21, 2015
Corporation Bank received MSME banking excellence award 2014 Jan 19, 2015
Home loan rates set to fall, after reduction in repo rate Jan 16, 2015
News Archive