United Bank of India is seeking additional Rs 1,000 crore from government to meet its capitalisation requirements. The additional support from the government will help the bank to improve profitability in the longer run.
The bank’s gross non-performing asset (NPAs) widened to 7.52% of advances at the end of September from 3.88% a year ago. Net non-performing assets rose to 5.39% from 1.95%.
Earlier in October, the government had infused Rs 14,000 crore as capital in state-run banks. It had then said that a second round of capital infusion could take place in the fourth quarter depending on banks’ performance in lending to consumer sectors.
The bank’s gross non-performing asset (NPAs) widened to 7.52% of advances at the end of September from 3.88% a year ago. Net non-performing assets rose to 5.39% from 1.95%.
Earlier in October, the government had infused Rs 14,000 crore as capital in state-run banks. It had then said that a second round of capital infusion could take place in the fourth quarter depending on banks’ performance in lending to consumer sectors.
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