| United Bank H1 net up 43% at Rs 232cr |
| BS Reporter / Kolkata November 16, 2007 |
| The United Bank of India has reported a net profit of Rs 232.50 crore, up 43.4% for the half year ended September 30, 2007, as against Rs 162.08 crore in the corresponding period last year. In the first half of the fiscal, the total business of the bank grew by 26.9% to Rs 61,963 crore from Rs 48,842 crore reported last year. While the total deposits of the bank stood at Rs 38,770 crore, up 28.3% from Rs 30,220 crore a year ago, the total advances grew by 24.5% to Rs 23,193 crore from Rs 18,622 in the same period last year. PK Gupta, CMD, United Bank of India, attributed the improved performance particularly to the non-interest income, which increased by 65.6% to Rs 173.45 crore from Rs 104.75 crore during the same period last year. The credit deposit ratio of the bank stood at 59.8%. |
