Home / Companies / United Bank profit falls 77.6% to Rs104.78 crore

Kolkata: United Bank of India on Thursday said that its net profit for the quarter ended March declined 77.6% to 104.78 crore compared with a year-ago period as provision towards bad loans pared profitability.

The Kolkata-based lender put aside 120 crore towards potential bad loans as against a 35-crore write back of provisions a year ago. Gross non-performing assets, a measure of a bank’s loan book health, was down to 9.49% at the end of March from 12.03% a year earlier.

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