State-run United Bank of India (UBI) on Monday reported a net loss of Rs 344.83 crore for the second quarter ended September 30 against a net profit of Rs 43.53 crore for the corresponding period a year ago.
Its operating profit fell to Rs 286 crore in the quarter under review, as against Rs 436.59 crore in the corresponding period last year.
The lender had posted a net loss of Rs 211.46 crore for the first quarter of the current fiscal.
The bank's asset quality deteriorated further in the September quarter of the current fiscal.
Gross non-performing assets (NPAs) in absolute terms rose 15.8 per cent year-on-year at Rs 12,892.67 crore during the period under review.
The bank's gross NPA as a percentage of total loans rose to 18.80 per cent in the September quarter of this fiscal from 16.26 per cent during the same period in the previous fiscal.
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Net interest income (NII) remained flat at Rs 376.26 crore compared with Rs 376.40 crore in the corresponding period of last fiscal, according to a stock exchange filing.
--IANS
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