| Total income dipped 18.03 per cent to Rs 445.72 crore from Rs 543.79 . The fall in the net profit is on account of a trading loss of Rs 114.53 crore on account of transfer of government securities worth Rs 3,377.03 crore to the held to maturity (HTM) category. |
| Securities in this category are not affected by interest rate fluctuations as they do not require to be marked to market. |
| UTI Bank's net profit in the first six months ended September 30 increased marginally to Rs 116.89 crore against Rs 116.36 crore in the corresponding period last fiscal. |
| However, its total income fell to Rs 983.35 crore against Rs 1091.67 crore in the same period last fiscal. Other income registered a loss of Rs 3.59 crore against Rs 149.82 crore in the previous quarter. |
| P J Nayak, managing director of UTI Bank, said the decline in the net profit is mainly on account of trading losses. This is a one-time hit that the bank incurred on account of transfer of gilts from available for sale (AFS) to HTM category, he added. |
| On the Bombay Stock Exchange (BSE) the share price of UTI Bank ended the day down 1.96 per cent at Rs 147.40 compared with Rs 150.35 on Tuesday. |
| The bank's net interest income increased by 31 per cent to Rs 180.72 crore as against Rs 137.98 crore in the corresponding period previous quarter. Its fee-based income rose to Rs 91.26 crore against Rs 47.91 crore. Cost of funds has dipped to 4.73 per cent as compared to 4.83 per cent. |
| The bank's non performing assets in the quarter ended September 30, 2004 stood at 1.33 per cent against 1.97 per cent. Its capital adequacy ratio (CAR) has dipped to 10.67 per cent against 11.24 per cent in corresponding quarter last fiscal. |
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