United Bank Of India To Raise Funds Upto Rs 1000 Crores


United Bank of India on Friday surged over 3% in the morning session on the BSE. It is trading at Rs 22.80 per share, up by 3.17% at 10:15 hours IST.

The company on Thursday reported a net profit of Rs 73.56 crore for the quarter ended March 31, 2017, as against a net loss of Rs 413.04 crore for the same quarter in the previous year, as per BSE filing.

The gross NPA stood at Rs 10,951.99 crore and net NPA stood at Rs 6591.85 crore for the quarter ended March 31, 2017.

The net interest income increased to Rs 501.94 crore for the quarter ended March 31, 2017, from Rs 405.45 crore for the same quarter in the previous year.

The board of directors also approved raising of equity capital upto Rs 1000 crore through Qualified Institutions Placement, Public Issue, Rights Issue, as per BSE filing.

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