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United Bank of India’s net loss widens to Rs 883 crore in Q2

United Bank of India has reported results for second quarter ended September 30, 2018.

The Bank has reported net loss of Rs 883.17 crore for the quarter under review as compared to net loss of Rs 344.83 crore for the same quarter in the previous year. However, total income of the Bank increased marginally by 0.60% at Rs 2,600.47 crore for Q2FY19 as compared Rs 2,584.89 crore for the corresponding quarter previous year.

The Bank’s gross NPA for the July-September quarter of the current fiscal increased to 22.69%, as compared to 18.80% in the same quarter of the previous year. Besides, Bank’s Net NPA stood at 14.36% in Q2FY19.

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