UBI Q4 net jumps 209 pct to Rs 143cr

United Bank of India backed by higher net interest margin and non-interest income reported a net profit of Rs 143.23 crore for the quarter ended March 2011,up by 209 per cent over the corresponding period of 2009-10.

The bank CMD Bhaskar Sen said net interest margin improved to 3.19 per cent during the year under review compared to 2.48 per cent in the previous year.

He also said the bank had registered a growth of non-interest income to Rs 219.17 crore for the Q4 period,up 37.4 per cent over the corresponding period last year.

The public sector bank aims a total business of Rs 1,56,000 crore for the current fiscal as compared to Rs 1,31,779 crore registered in 2010-11.