Annual Report 2010-2011 of United Bank of India

It is a broadly described annual report of United Bank of India in the year of 2010-2011. During the financial year, The Bank’s total business increased by Rs. 20,843 Crore to reach Rs. 131,779 Crore at the end of the financial year 2010-11 from Rs. 110,936 Crore at the end of the previous financial year 2009-10, recording a growth rate of 18.8%. The total deposits of the bank have grown by Rs. 9,665 Crore from Rs. 68,180 Crore as on 31^st March 2010 to Rs. 77,845 Crore as on 31^st March 2011 registering a growth rate of 14.2%. The total income of the bank improved to Rs. 6,978.51 Crore during the year 2010-11 from Rs. 5,807.68 Crore in the previous year recording a rise of Rs. 1,170.83 Crore. Operating Profit of Rs. 1,506.99 during the financial year 2010-11 as compared to Rs. 875.84 Crore in the financial year 2009-10 registering an increase of Rs. 631.15 Crore (72.1%). The Bank registered a Net Profit of Rs. 523.97 Crore for the financial year 2010-11 compared to Rs. 322.36 Crore in the financial year 2009-10. Earnings per Share and Book Value per Share for the Financial Year 2010-11 stood at 12.86%, Rs. 14.38 and Rs. 102.89 respectively, against 10.64%. Rs. 10.18 and Rs. 91.69 respectively for the previous year.

The Board of Directors of the Bank has recommended a final dividend of Rs. 2.20/- (@22%) per equity share of Rs. 10/- each, which is required to be declared by the shareholders at this Annual General Meeting.

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