United Bank Q2 net up 16% to Rs 145 cr, NPAs increase

United Bank of India 's net profit rose by 16.2 percent year-on-year to Rs 145 crore in the second quarter of FY13, supported by other income but the non-performing assets increased during the quarter.

Net interest income fell by 2.8 percent to Rs 605.8 crore from Rs 623.5 crore during the same period.

Other income spiked 49 percent to Rs 242 crore from Rs 162 crore YoY.

Gross non-performing assets (NPAs) increased 41 basis points quarter-on-quarter to 3.88 percent and net NPAs went up by 18 basis points QoQ to 1.95 percent during the quarter.

Provisions of the bank too went up by 11 percent QoQ to Rs 258.6 crore in the July-September quarter of FY13. Capital adequacy ratio was 12.08 percent in the second quarter as against 12.50 percent in a year ago quarter.

The share fell 2.26 percent to close at Rs 64.95 on the Bombay Stock Exchange.

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