United Bank posts 27 percent growth in advances

Friday, 17 April 2009, 02:02 Hrs
Printer Print Email Email
Kolkata: Public sector lender United Bank of India (UBI) Thursday reported 27 percent growth in advances at 36,000 crore and 16 percent rise in deposits at 54,000 crore in 2008-09.

"Our bottomline is likely to be between 150-200 crore after we close our books," UBI chairman and managing director S.C. Gupta told reporters.

The bank is yet to finalise its accounts.

The net profit of the bank in 2008-09 is likely to fall from the previous year's 319 crore, Gupta said.

He, however, did not mention any reasons for the expected drop in the profit.

The operating profit before provisions and contingencies in 2008-09 is likely to touch 750 crore, up from 467 crore in 2007-08, Gupta added.
Source: IANS
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..