Half Yearly Results (FY ) PRESS RELEASE

Transcription

1 Date-31 st October, 2011 UNITED BANK OF INDIA (The Bank that begins with U) Half Yearly Results (FY ) PRESS RELEASE L to R: Shri S.L.Bansal-ED, Shri Bhaskar Sen-CMD & Shri D.Basu-GM(Accounts) Table of Contents 1. Highlights for Q2 ended, 30 th September, 2011 (FY11-12) Other Key Highlights for Q2 ended, 30 th September, 2011 (FY11-12) Page No Details of Performance 3-5

2 Q-2 ended September 30 th, 2011 Performance Highlights of Q-2 ended September 30 th, 2011 (y-o-y basis) Net Profit up by 13.7 % to ` crore for the second quarter. Net Interest Income increased by 18.5 % to ` crore from ` crore during Q2 11. Operating Profit up by 27.0 % to reach ` crore as against ` crore for the quarter ended September 10. Advance up by 17.1 % to reach ` crore. Deposit up by 13.3 % to reach ` crore. CASA increased to 39.9 %. Net Interest Margin at 3.16 % (3.04 % in September 10). Return on Average Assets (RoA) at 0.57 % in September 11. Net NPAs stood at ` 1202 crore. (1)

3 Other Key Highlights of Q-2 ended September 30 th, 2011 MSME Advances grew by 21.6 % reaching ` 8292 crore. Agriculture Advances increased to ` 6041 crore registering a growth of 30.5 %. Auto Loans increased by 39.0 % to reach ` 438 crore. Housing Loans to individuals grew by 20.6 % to reach ` 2657 crore. Education Loan increased by 6.4 % to reach ` 464 crore. The Priority Sector Advances increased to ` Crore as on 30 th September 2011 as against ` Crore on 30 th September 2010, thereby registering a growth of 21.1% on y-o-y basis. The Weaker section advances has increased to ` 5241 crore as on 30 th September 2011 as against ` 3848 crore on 30 th September 2010 thereby registering a growth of 36.20% Y-o-Y. Advances to Minority Community has increased to ` 2772 crore as on 30 th September 2011 against ` 2239 crore on 30 th September 2010, thereby registering a growth of 23.80% Y-o-Y. (2)

4 Details of Performance United Bank of India today reported its financial performance for the Q-2 ended 30th September, The Board of Directors of United Bank of India has taken on record the audited Q-2 ended 30 th September, 2011 (FY ) at its meeting held in Kolkata today. Shri Bhaskar Sen, Chairman & Managing Director of the Bank informed that the Bank performed well during the quarter in comparison to its industry peers and achieved a Total Business of ` Crore recording a y-o-y growth of 14.8 %. The Deposits soared to ` Crore registering a growth of 13.3 %. The share of CASA stood at 39.9%. The Savings Bank deposits and Current Deposits increased to ` Crore and ` 6513 Crore respectively with y o-y growth of 27.7% and 13.1%. The details of Performance in various fields / sectors are as follows: 1. The Net Profit of the Bank stood at ` 125 Crore for the quarter ended on 30 th September, Bank s Interest Income during the Q-2 increased by 28.8 % on y-o-y basis to reach crore. ` 3. Capital Adequacy Ratio (CAR) was at 12.95% as on 30 th September, The Tier I CAR has increased from 8.41 % (September, 2010) to 8.94% (September, 2011). 4. As on 30 th September, 2011 the gross Advances increased to ` Crore recording a growth of. 17.1% on y-o-y basis. On a y-o-y basis, the MSME Advances grew by 21.6% reaching ` 8292 crore as on 30 th September, 2011, Agriculture Advances increased to ` 6041 Crore registering a growth of 30.5 %, Retail Loans increased by 19.4 % to reach ` 7801 Crore, The Priority Sector Advances increased to ` Crore as on 30 th September, 2011 from ` Crore as on 30th September, 2010 thereby registering a growth of 21.1 % on y-o-y basis. The CD Ratio of the Bank stood at 70.1 % as on 30 th September, As on 30 th September, 2011, the Gross NPA ratio stood at 3.48%. The Net NPA Ratio of the Bank stood at 2.21% as on 30 th September, 2011.

5 (3) 6. Financial Inclusion a) The Bank has set up 8 Financial Literacy and Credit Counseling centres (FLCC), 4 in West Bengal, 2 in Tripura and 1 each in Assam & Manipur. These FLCC are set up to create awareness amongst the people on different banking services and their benefits, debt management and counseling to the distressed borrowers. 8 FLCCs have conducted 169 programmes till which were attended by 2321 persons. b) The Bank has been allocated 1889 villages having population of greater than 2000 for opening of banking outlets by March As against the above target, the Bank has been able to cover 1079 villages. Out of which 21 brick & mortar branches have been opened. Through the Financial Inclusion activities, the Bank has acquired 3.66 lakh new customers. c) For the viability of the BC Agents, Bank has introduced Incentive scheme. Thus, the BCA would generate business for the Bank and earn extra income. d) In order to strengthen the monitoring system, the bank has engaged retired officers as Supervisors for monitoring the day to day activities of the BCA. 7. National Award The Bank received National Award-2011 from Ministry of MSME, Govt of India for financing under PMEGP scheme in Eastern Region and the National Award-2010 for being the best Bank in the country in MSE financing. The Bank has also secured top position in financing PMEGP in both Eastern and North Eastern Zone of the Country. 8. Technology (Alternate Delivery Channels) A - Introduction of new services under E-BankingE a) Online Bill Payment & shopping b) E-payment of Maharashtra Commercial Tax & Orissa Commercial Tax c) E-payment of Customs Duty d) Online facility for ASBA (Applications Supported by Blocked Amounts) for applying in IPOs. B - Launch of Mobile Banking a) The Mobile Banking services were introduced on 26 th August The facilities include Balance query, Mini Account Statement, Cheque Status, Stop Cheque, Fund transfer to accounts within the Bank, Fund transfer to accounts with other Banks through NEFT, Branch/ATM locator. C - ATM a) The total number of Bank s ATM as on 30 th September 2011 increased to 584 as against 508 in March The Bank has also introduced transaction based SMS alert facility.

6 (4) 9. Corporate Social Responsibility The Bank has donated ` 4.00 crore as Corpus to a Trust named United Bank Socio Economic Development Foundation. The Trust has donated ` lacs to 45 organizations involved in different welfare activities viz. health and hygiene, education, drinking water etc. 10. Bank s R-SETIs The Bank has set up 10 R-SETI (6 in West Bengal and 2 each in Assam and Tripura) to provide skill and EDP training to Rural youth, women and weaker section of the society to enable them to self employment. Training along with boarding and lodging are provided free of cost. The RSETI has imparted training to15579 persons. Out of the total number of participants, persons have been self employed and the success rate is 76%. 11. Bank s RRBs a) All the Branches (1059) of our 4 sponsored RRBs are on CBS platform from 13 th August 2011, which has been achieved well ahead of the target date of September b) The Bank has allocated 2359 villages with population above 2000 to the Bank s sponsored 4 RRBs for opening banking outlets by March The RRBs have covered 891 villages till September Other Initiatives The Bank has Re-designated 41 Branches as Specialized MSMSE Branches during , and 16 more branches have been added during the current F.Y. (5)