UBI posts Net Profit at Rs.73.56 crore in Q4 FY17

Kolkata
18 May 2017

Net Profit of United Bank of India (UBI) at Rs.73.56 crore in Q4 FY17 showing increase of 14.76 pc over previous quarter from net loss of Rs.4l3 crores as of Q4 FYl6. Bank's total advance increased by 3.89% over the previous quarter. Net NPA percentage decreases by 0.60% over previous quarter.
CASA deposit is stable at around 47o/o of the total deposits and growing by 23% y-o-y. ROE (annualized) at 4.38 pc against 3.60% in previous quarter.
Bank's Net Profit stands at Rs.73.56 crore against net profit of Rs.64.10 crore in Q3- 17 with a growth of 14.76. %. Operating profit has increased to Rs.116.04 crore from loss of Rs.120.97 crore on Q-O-Q basis. Similarly, Operating profit has increased by 100% on year on year basis.
Bank's Net lnterest lncome (NII) is Rs.501.94 crores in FY Q4-17 against Rs.405.45 crores in FY Q4-16. Interest expenses restricted at Rs. 1849.64 crores with 3.21 pc decrease over the previous quarter. On y-o-y basis also interest expenses has reduced from 7656.11 crore to Rs. 7500.18 crore.
"Provisions and Contingencies" of the Bank for the quarter was at Rs.42.48 crore during Q 4 FY17 against Rs.608.96 crore in Q3 FY17 on account of application of deferred tax. The Net NPA of the Bank has reduced from Rs.6729.89 crore to Rs.6591.85 crore (down 2.05 % Q-o-Q).
For the year ended March'2017 the Cash Recovery from NPA aggregated Rs.488.37 crore and Reduction of NPA Assets were to the tune of Rs.2052.10 crore.
Total Deposit increased by 9.05% from 116401 crore to Rs.126939 crore on y-o-y basis. Similarly, the total business has increased by 5.13% on y-o-y basis.
Under Basel III, the Bank's Capital Adequacy Ratio stood at 11.14 pc with the Tier 1 capital at 8.94% as on 31st March, 2017. The Bank's Capital Adequacy Ratio was at 11.68% (as per Basel ll) as of March 31, 2017. Its Tier 1 was maintained at the level of 8.28%. CRAR under Basel-III has increased to 11.14 pc from 10.08% on y-o-y basis. (EOIC)