On Saturday, the United Bank of India stated that the non-performing assets (NPAs) have been reduced to around Rs.800 crore. Very soon another Rs.600 crore will be recovered.
The overall net NPA had a hike of 270 percent to around Rs.4,385 for the period (July to September 2013) in comparison to last financial year of the same time which was Rs.1,188 crore.
Increase in Business
As per a release of the UBI, the overall business which includes advances and deposits had crossed Rs.200, 00 crore. This witness a year on year growth of 30 percent in the advances of sectors like retail, agriculture and SME.
Then, the Bank called attention to that it was "decently capitalised". There was 9.48 percent of capital adequacy. Throughout the present financial year, the bank was the first to raise a capital of around Rs.500 crore under Tier -II (Basel III).