United Bank of India faces Rs 413 crore loss in Q4

Higher non-performing assets and provisioning pulled Kolkata-based 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 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 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.
Share:

No comments:

Post a Comment


  Useful links for Bankers
   * Latest DA Updates
   * How to recover Bad loans/NPA Acs
   * Latest 12th BPS Updates
   * Atal Pension Yojana (APY)
   * Tips while taking charge as Manager
   * Software used by Banks in India
   * Finacle Menus, Shortcuts & Commands
   * Balance Inquiry Number of all Banks
   * PSU & Private Banks Quarterly result
   * Pradhan Mantri Awas Yojana (PMAY)

Contact Form

Name

Email *

Message *