United Bank of India (UBI) has scripted what has to be the most stunning turnaround in recent times; from losses of R1,238 crore in Q3FY14 and R489 crore in Q2FY14, the Kolkata-headquartered bank has reported a profit of R469 crore in Q4FY14. On the face of it, the recovery seems too good to be true. How, for instance, has the bank reduced its gross NPAs by R2,592 crore and upgraded R1,488 crore of NPAs to standard assets in the span of just three months? And if it was that simple to.......
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