Kolkata, April 29 (IANS) Public sector United Bank of India (UBI) has registered a net profit of Rs 143.23 crore for the quarter ending March 31, 2011 against Rs 46.38 crore in the same period the previous fiscal, registering a jump of almost 209 percent.
‘The interest regime was totally different during the last quarter from what it was a year before. We revised our base rates. We also reduced our costs so the last quarter was better in terms of profitability,’ UBI chairman and managing director Bhaskar Sen said at a press conference here.
The bank had registered a non-interest income to Rs 219.17 crore for the fourth quarter of fiscal 2010-11, registering an increase of 37.4 percent over this period last year.
Net interest income of the bank during the quarter under review was Rs.574.80 crore, almost 36 percent rise over Rs.558.74 crore for the corresponding period of the previous fiscal.
‘We are targeting a total business of Rs.1,56,000 crore during 2011-12,’ Sen said.
