United Bank of India Q4 net down

While total business touched Rs 1,10,936 crore recording a year-on-year growth of 22 per cent, its interest income during the year under review increased by 21 per cent to reach Rs 5248.94 crore. The non-interest income was Rs 558.74 crore, Chairman & Managing Director Bhaskar Sen said here on Monday.

On decrease in fourth quarter net, Sen said there had been a substantial reduction in the treasury income to Rs 37.56 crore as against Rs 137.42 crore in the previous fiscal.  About capital raising plans, he said that the bank was expecting an infusion of Rs 250 crore from the government in FY’11.Sen said that the bank would focus on the retail sector.

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