Higher non-performing assets and provisioning pulled Kolkata-based United Bank of India into
red, as the bank posted a net loss of about Rs 413.04 crore for Q4 of
FY16, against a profit of around Rs 105.52 crore in the same period last
year. Notably, in Q3 of the present financial year, the bank had posted
a net profit of Rs 17 crore.
The bank's non performing assets (NPA) rose sharply in the last quarter. The bank's net NPA in
the last quarter was 9.04 per cent (6.22 per cent in Q3 of FY15) while
the gross NPA was 13.26 per cent ((9.49 per cent in Q4FY15).
The bank said the higher NPAs were largely on account of asset quality
review, as advised by RBI, along with economic slowdown during the
quarter.
The provisions against NPA loans went up from about Rs 100 crore as on
31 March 2015 to about Rs 925 crore as on 31 March 2016. The total
provisions (other than tax) and contingencies of the bank in Q4 of FY16
stood at Rs 1173 crore, against about Rs 676 crore in the corresponding
period last year.
The gross NPA of the bank in the last quarter stood at Rs 9,471 crore
(Rs 6,553 crore in Q4 of FY15), while the net NPA of the bank stood at
about Rs 6,111 crore (against nearly Rs 4081 crore in Q$ of FY15).
The net interest income of the bank in Q4 of FY16 stood at Rs 405
crore, against Rs 711 crore in Q4 of FY15, a fall of about 43 per cent.
The capital adequacy ratio of the bank stood at 10.08 per cent (Basel III) as on 31 March 2016.
The total NPA recovery and up gradation for FY16 was Rs 2093 crore, with a cash recovery of Rs 541 crore.
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