United Bank posts 27 percent growth in advances

April 16th, 2009 - 9:48 pm ICT by IANS  

Kolkata, April 16 (IANS) Public sector lender United Bank of India (UBI) Thursday reported 27 percent growth in advances at Rs.36,000 crore and 16 percent rise in deposits at Rs.54,000 crore in 2008-09.
“Our bottomline is likely to be between Rs.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 Rs.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 Rs.750 crore, up from Rs.467 crore in 2007-08, Gupta added.

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