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United Bank trims NPAs by Rs 1,000 crore in first two months of 2014

04 Mar 2014 Evaluate

United Bank of India (UBI) has managed to bring down its non-performing assets (NPAs) by Rs 1,000 crore in first two months of Calendar Year 2014. The company has reduced the NPAs on account of part-recoveries from various accounts that had turned bad or post the closure of some of these accounts.

The recoveries have been strengthened with new teams being formed for follow-up (on some of the defaulters). Regular monitoring is being undertaken too.

Gross NPAs for the Kolkata-based bank had jumped to Rs 8,545 crore (including fresh slippages of Rs 3,172 crore) in the October-December quarter, from Rs 2,902 crore in the corresponding quarter last year.

Peers
Company Name CMP
State Bank Of India 960.60
PNB 116.00
Bank Of Baroda 229.80
Canara Bank 118.95
Union Bank Of India 172.40
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