UBI targets Rs 1,000 bn business by March 2009

UBI is targeting a business of Rs 100,000 crore by the end of March 2009, chairman and managing director PK Gupta said on Saturday.

United Bank of India (UBI) is targeting a business of Rs 100,000 crore by the end of March 2009, chairman and managing director PK Gupta said on Saturday.

HT Image

Announcing the results for April-December this fiscal, he said total business stood at Rs 54,190 crore, with deposits touching Rs 33,503 crore and advances at Rs 20,687 crore.

The bank's net profit stood at Rs 231.84 crore during the first nine months compared to Rs 204.57 crore, which was post-tax profit for the full fiscal 2005-06.

UBI's capital adequacy ratio stood at 12.37 per cent. Gross NPA declined to 3.7 per cent while net NPA came down to 1.47 per cent.

The bank's credit-deposit ratio improved from 53.6 per cent to 62 per cent, while the yield on advances also increased from 8.66 per cent to 8.85 per cent.