Calcutta, Feb. 5: Rising bad loans have dragged down the net increase of the United Bank of India ( UBI ) and Uco Bank ' the two city-based open zone lenders ' during the third entertain finished December.
The UBI has posted an 81.32 per cent drop in net distinction at Rs 42.2 crore against Rs 226.02 crore in the analogous entertain of the formerly fiscal.
Though complete income rose 17.40 per cent to Rs 2,599.39 crore, a 125.8 per cent increase in provisioning at Rs 450 crore against Rs 199.29 crore a year ago dented the bottomline.
Net non-performing properties (NPAs) increased to 2.22 per cent from 2.01 per cent. In worth terms, net NPAs rose to Rs 1,416.18 crore from Rs 1,178.39 crore.
The bank's Basel II funds satisfactoriness proportion declined to 11.88 per cent from 12.63 per cent in the year-ago period.
Revenues from sell promissory note stood at Rs 415.19 crore compared with Rs 461.22 crore in the formerly fiscal.
For the 9 months finished December, the bank posted a reject in net distinction at Rs 360.72 crore against Rs 483.24 crore in the same time a year ago.
The bank's house currently granted a funds distillate by a favoured apportionment of shares of Rs 100 crore in the form of familiar equity to increase harvesting machine 1 capital. It is theme to the consent of the shareholders.
Uco Bank has reported a 69.2 per cent unemployment in net distinction at Rs 102.47 crore against Rs 332.55 crore a year ago. Total income grew to Rs 4,360.88 crore from Rs 3,973.62 crore.
Total provisioning increased to Rs 727.64 crore from Rs 420.45 crore. Net NPAs rose to 3.32 per cent from 2.04 per cent. In worth terms, they grew to Rs 3,927 crore from Rs 2,131.07 crore.
The bank mobilised "unsecured redeemable non-convertible subordinated descend harvesting machine II bonds" worth Rs 1,000 crore, the firm mentioned in a filing to the BSE.
The scrips of both the banks took a strike on the bourses today. While the UBI declined 3.34 per cent to Rs 70.80, Uco Bank fell 5.11 per cent to Rs 67.80 on the Bombay Stock Exchange.