Mumbai, Oct 31 IBNS | 12 months ago

Indian public sector bank Union Bank of India (UBI) on Thursday declared that the bank has crossed another business milestone of Rs. 5,00,000 crore during the quarter/half year ended Sept 30, 2013.


The Board of Directors of UBI on Thursday approved the accounts of the Bank for the quarter/half year ended September 30, 2013 which were subjected to Limited Review.

UBI stated that the Bank Global Business grew by 26.30 percent from Rs. 402766 crore as on Sept 30, 2012 to Rs. 508713 crore as on Sept 30, 2013.

The Domestic Deposits increased from Rs. 224320 crore as on Sept 30, 2012 to Rs. 283674 crore as on Sept 2013, a growth of 26.46 percent.

Global Deposits increased from Rs. 226095 crore as on Sept 30, 2012 to Rs. 287029 crore as on Sept 30, 2013, a growth of 26.95 percent.

Current Account Savings Account (CASA) deposits grew by 17.56 percent to Rs. 81075 crore as on Sept 2013 from Rs. 68963 crore in the previous year.

CASA share in total deposits was at 28.25 percent.

The Domestic Advances increased from Rs. 165863 crore as on Sept 30, 2012 to Rs. 206690 crore as on Sept 30, 2013 recording a growth rate of 24.61 percent.

Global Advances increased from Rs. 176671 crore as on Sept 30, 2012 to Rs. 221684 crore as on Sept 30, 2013 recording a growth rate of 25.48 percent.

The Credit-Deposit ratio for Sept 30, 2013 stood at 80.94 percent compared to 81.96 percent in Sept 30, 2012.

UBI noted that for the half year-ended Sept 30, 2013 the Net Interest Income for H1/FY 2013-14 up by 5.23 percent to Rs. 3864 crore from Rs.3672 crore in H1/FY 2012-13.

Domestic Net Interest Margin (NIM) on earning assets stood at 2.70 percent compared to 3.07 percent a year ago.

Global NIM for H1/FY 2013-14 was at 2.58 percent, as compared to 3.01 percent in H1/FY 2012-13.

Non Interest Income for H1/FY 2013-14 increased by 32 percent to Rs. 1367 crore, from Rs. 1037 crore in H1/FY 2012-13.

Net Profit for H1/FY 2013-14 declined by 27.95 percent to Rs. 768 crore from Rs. 1066 crore in H1/FY 2012-13 on account of increased provisions.

The Bank also stated for the quarter-ended Sept 30, 2013 Net Interest Income for Q2/FY 2013-14 up by 5.62 percent to Rs. 1954 crore from Rs. 1850 crore in Q2/FY 2012-13.

Domestic Net Interest Margin (NIM) on earning assets stood at 2.67 percent compared to 3.09 percent a year ago.

Global NIM for Q2/FY 2013-14 was 2.54 percent, as compared to 3.02 percent in Q2/FY 2012-13.

Moreover, the Bank's Gross NPAs stood at 3.64 percent on Sept 30, 2013 as compared to 3.66 percent as on Sept 30, 2012.

The Net NPA ratio is at 2.15 percent as on Sept 30, 2013 as against 2.06 percent as on Sept 30, 2012.

Provision Coverage at 60.43 percent as on Sept 30, 2013 compared to 61.45 percent in the previous year.

The Capital Adequacy ratio of the Bank, under Basel III, is 9.72 percent as on September 30, 2013.

The Tier I CRAR is 7.11 percent and Tier II is 2.61 percent as on Sept 2013.

(Posted on 31-10-2013)