UNITED BANK OF INDIA
FIRST QUARTER RESULTS
Q1 FY 2013
UNITED BANK OF INDIA has declared good results for the first quarter ending
June, 2012.The High Lights are as below :
HIGH LIGHTS
Total Income for Q1 FY 13 stands at Rs.2499.10 Cr; up by 5.44% from
Q4 FY 12 (Rs.2370.15 Cr); and up by 24.45% from Q1 FY 12 (Rs.2008.18 Cr.)
Total Expenditure for Q1 FY 13 stands
at Rs.1953.00 Cr; up by 3.21% from Q4 FY
12 (Rs.1892.32 Cr); and up by 22.76% from Q1 FY 12 (Rs.1590.86 Cr).
Profit before Interest, Dep. & Taxes for Q1 FY 13 stands
at Rs.546.10 Cr; up by 14.29% from Q4 FY
12 (Rs.477.83Cr); and up by 30.86% from
Q1 FY 12 (Rs.417.32 Cr).
Net Profit for Q1 FY 13 stands at Rs.173.89 Cr; up by 16.48% from
Q4 FY 12 (Rs.149.29 Cr); and up by 31.29% from Q1 FY 12 (Rs.132.45 Cr).
Diluted EPS for Q1 FY 13 stands at Rs.4.24 ; against Rs.3.69 in Q4
FY 12; and Rs.3.27 in Q1 FY 12.
52 week high/low
price : Rs.95.40/45.60; Current MP : Rs.53.65
OTHER DETAILS
Net interest income
(NII) was at Rs 684 Cr, up 20 per cent from the corresponding
period last year.
Net interest margin improved three basis
points YoY and five basis points QoQ to
3.05 % because, rise in yield on
advances outpaced increase in cost of deposits.
Other income grew 27 per cent year-on-year
in April-June due to Higher commissions, income from exchange transactions and profits
in treasury operations.
“I don’t see any reason why we will not be able to
maintain our margin over three per cent in coming quarters,” Bhaskar Sen, CMD
said.
Asset quality deteriorated with gross NPA ratio increasing 58 basis
points to 3.47 % and net NPA ratio expanding 10 basis points to 1.77 %. Fresh
Slippages during the quarter was estimated at Rs 298 Cr. But, recoveries and
upgrades reduced provisions against NPAs to Rs 125 Cr –compared to Rs 137 Cr a year
ago. Total provisions increased 31 % to Rs 372 Cr.( on account of gratuity and
taxation).
Bank’s restructured loan portfolio was Rs 4,093 Cr, of
which Rs 921 Cr advances were classified as non-performing. It restructured
around Rs 1,120 Cr loans in April-June.
Advances were up nearly 20 % YoY at Rs 63,625 Cr.
Deposits grew 16 % YoY to Rs 89,639 Cr. Share of low-cost current account savings account (CASA)
deposits was 40.5 % of total deposits at the end of June, 2012.
“We have been consciously reducing our bulk deposit
base. Currently, around 16.2 per cent of our total deposits are bulk deposits,”
the CMD said.
The bank has decided to cut interest rate on loans to
small and medium enterprises and will review its deposit rates soon.
Overall, the Bank’s Performance during the quarter has
been very Good.
RESULTS
TABLE
|
united
bank
|
30-Jun-12
|
QoQ %
Dif
|
31-Mar-12
|
YoY %
Dif
|
30-Jun-11
|
|
Total Income
|
249910
|
5.44
|
237015
|
24.45
|
200818
|
|
Total Expenditure
|
195300
|
3.21
|
189232
|
22.76
|
159086
|
|
Profit
before Interest, Dep. & Taxes
|
54610
|
14.29
|
47783
|
30.86
|
41732
|
|
Net Profit
|
17389
|
16.48
|
14929
|
31.29
|
13245
|
|
Diluted EPS
|
4.24
|
14.91
|
3.69
|
29.66
|
3.27
|
|
Intereston Advances
|
175113
|
9.04
|
160600
|
25.63
|
139385
|
|
Income on Investments
|
51437
|
4.86
|
49052
|
16.14
|
44290
|
|
Income on Balances With RBI
|
1182
|
70.81
|
692
|
652.87
|
157
|
|
Others
|
649
|
-77.53
|
2888
|
#VALUE!
|
-
|
|
Interest Earned
|
228381
|
7.1
|
213232
|
24.23
|
183832
|
|
Other Income
|
21529
|
-9.48
|
23783
|
26.75
|
16986
|
|
Total Income
|
249910
|
5.44
|
237015
|
24.45
|
200818
|
|
Interest Expended
|
160024
|
5.75
|
151318
|
26.07
|
126936
|
|
Net Interest Income
|
68357
|
10.41
|
61914
|
20.14
|
56896
|
|
Employees Cost
|
22592
|
-3.28
|
23358
|
5.32
|
21450
|
|
Other Operating Expenses
|
12684
|
-12.86
|
14556
|
18.54
|
10700
|
|
Operating Expenses
|
35276
|
-6.96
|
37914
|
9.72
|
32150
|
|
Total Expdr (Excl.Provisions)
|
195300
|
3.21
|
189232
|
22.76
|
159086
|
|
Operating Profit
|
54610
|
14.29
|
47783
|
30.86
|
41732
|
|
Provisions
|
29200
|
-4.78
|
30665
|
34.02
|
21787
|
|
Profit before tax
|
25410
|
48.44
|
17118
|
27.4
|
19945
|
|
Tax Expense
|
8021
|
266.42
|
2189
|
19.72
|
6700
|
|
Net Profit
|
17389
|
16.48
|
14929
|
31.29
|
13245
|
|
Face Value of Share (Rs )
|
10
|
0
|
10
|
0
|
10
|
|
Paid-up Equity Share Capital
|
36100
|
0
|
36100
|
4.81
|
34442
|
|
Capital Adequacy Ratio
|
10.44
|
-0.38
|
10.48
|
-8.34
|
11.39
|
|
Diluted EPS
|
4.24
|
14.91
|
3.69
|
29.66
|
3.27
|
|
Gross/Net NPA
|
110553
|
2.79
|
107555
|
25.91
|
87802
|
|
% of
Gross/Net NPA
|
1.77
|
2.91
|
1.72
|
5.99
|
1.67
|
|
Return on Assets
|
0.7
|
11.11
|
0.63
|
14.75
|
0.61
|
|
Public Shareholding (%)
|
18.44
|
0
|
18.44
|
27
|
14.52
|
* *
* E N D *
* *
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