United Bank net loss at Rs 1,139 crore in Q3

The net loss of United Bank of India touched Rs 1,139 crore during the third quarter of current fiscal. The bank said the loss was due to higher provisioning.

Gross NPA and net NPA of the bank stood at 21.27 per cent and 12.08 per cent respectively. Total business of the bank touched nearly Rs two lakh crore.

The bank's net interest margin stood at two per cent as against 1.51 per cent year-on-year. The lifting of PCA by the regulator would be consequential likely from the second quarter of FY20, the bank said..