United Bank of India's profit rises

United Bank of India on Saturday reported a net profit of Rs 143.23 crore for the last quarter of 2010-11, compared with Rs 46.38 crore in the same period of the previous financial year. Higher yield on advances, which stood at 10. 71 per cent in the last quarter contributed to the rise in profit. 

The cost of deposits for the bank increased in the last quarter to 5.95 per cent, compared with 5.57 per cent in the same period of 2009-10. The bank's treasury profit rose to Rs 90 crore in the last quarter, against Rs 37 crore in the year-ago period.

Source: Business Standard