theddteam
16-11-2007, 06:02 PM
United Bank of India (UBI) on Friday posted 43.40 per cent jump in net profit at Rs 232.50 crore for the first six months of the current fiscal compared to Rs 162.08 crore during the same period last year.
The bank's business registered 26.9 per cent rise to Rs 61,963 crore, United Bank Chairman and Managing Director PK Gupta told reporters here.
Deposits grew 28.30 per cent at Rs 38,770 crore while advances rose 24.5 per cent to Rs 23,193 crore. The capital adequacy ratio stood at 13.92 per cent. The retail credit soared 94.7 per cent to Rs 5,908 crore in September this year from Rs 3,035 crore in the corresponding period last fiscal.
Speaking on the new initiatives, Mr Gupta said the bank would soon start online trading of shares under an arrangement with IDBI Capital Services Ltd. He said to augment its non-interest income, the bank would continue to leverage its network for distri bution of third party products like bancassurance, mutual funds and government business. United Bank has plans to put 300 of its branches under CBS by March 2008
The bank's business registered 26.9 per cent rise to Rs 61,963 crore, United Bank Chairman and Managing Director PK Gupta told reporters here.
Deposits grew 28.30 per cent at Rs 38,770 crore while advances rose 24.5 per cent to Rs 23,193 crore. The capital adequacy ratio stood at 13.92 per cent. The retail credit soared 94.7 per cent to Rs 5,908 crore in September this year from Rs 3,035 crore in the corresponding period last fiscal.
Speaking on the new initiatives, Mr Gupta said the bank would soon start online trading of shares under an arrangement with IDBI Capital Services Ltd. He said to augment its non-interest income, the bank would continue to leverage its network for distri bution of third party products like bancassurance, mutual funds and government business. United Bank has plans to put 300 of its branches under CBS by March 2008