United Bank Q1 net up 31%

United Bank of India (UBI) today reported a 30.8% increase in net profit at Rs. 63.5 crore for the first quarter ended June 30, 2005 as against Rs 48.56 crore in April-June 2004.

Highlighting the financial performance between April-June 2005, P K Gupta, chairman and managing director of UBI, said at the bank headquarters after the board meeting today that total business (deposits and advances) increased to Rs 38,733 crore - a growth of 22%.

While deposits increased 14% to Rs 25,898 crore, advances shot up 44.3% to Rs 12,376 crore, he added.

Gupta said capital adequacy ratio continued to be comfortable at 17.10%.