State-owned United Bank of India today registered 79 per cent fall in net profit at Rs 31.11 crore for the fourth quarter ended March 31,2013 due to a rise in bad loans.
The bank had recorded a profit of Rs 149.29 crore in the same period of the previous fiscal,United Bank of India said in a filing to the BSE.
Gross non-performing assets (NPAs),as a proportion of advances,rose to 4.25 per cent at the end of March 2013,as against 3.41 per cent in the previous fiscal. Net NPAs also rose to 2.87 per cent during the year from 1.72 per cent at the end of March 2012.
Total income of the bank rose to Rs 2,687.18 crore in January-March quarter as compared to Rs 2,370.15 crore in the same period previous fiscal.
The bank proposed a dividend of 21 per cent,or Rs 2.10,per share for 2012-2013.
For the entire fiscal ended March 31,2013,the bank’s net profit declined by 38 per cent at Rs 391.90 crore,compared to Rs 632.53 crore in 2011-12.
Total income increased to Rs 10,318.06 crore during the year,compared to Rs 8,694 crore in the previous fiscal.