UCO Bank registers growth of 374.42% in Q1 net profit; Gross NPA down at Rs11321.76cr

Net Interest Income of the Bank for the quarter ended June 2021 has increased to Rs1460.24cr, which was highest in the last 23 quarters.

Jul 28, 2021 03:07 IST India Infoline News Service

UCO Bank has made a net profit of Rs101.81cr during the quarter ended June 2021 as against a net profit of Rs21.46cr in the quarter ended June 2020, registering a growth of 374.42%.

Net Interest Income of the Bank for the quarter ended June 2021 has increased to Rs1460.24cr from Rs1266.78cr for the quarter ended June 2020 registering a growth of 15.27%. This is the highest Net Interest Income in the last 23 quarters.

Gross NPA of the Bank has reduced to Rs11321.76 Crore (9.37%) as of 30.06.2021 from Rs16576.43 Crore (14.38%) as on 30.06.2020 and from Rs11351.97 Crore (9.59%) as on 31.03.2021.

Net NPA of the Bank has reduced to Rs 4387.25 Crore (3.85%) as on 30.06.2021 from Rs5138.18 Crore (4.95%) as on 30.06.2020 and from Rs 4389.50 Crore (3.94%) as on 31.03.2021.

Provision Coverage Ratio of the Bank has increased to 88.53% as on 30.06.2021 from 86.50% as on 30.06.2020 and from 88.40% as on 31.03.2021. Capital Adequacy Ratio of the Bank stood at 14.24% and CET-I Ratio at 11.32% as on 30.06.2021.

Operating Profit of the Bank for the quarter June 2021 stood at Rs 1286.28 Crore as against Rs 977.08 Crore for the quarter ended June 2020 registering a growth of 31.65%.

Other Income of the Bank for the quarter ended June 2021 has increase to ` 969.51 Crore as against Rs 773.93 Crore for the quarter ended June 2020 registering a growth of 25.27%.

CASA of the Bank (Domestic) stood at 38.55% as on 30.06.2021.

Total Deposits of the Bank has increased to Rs 212096.82 Crore as on 30.06.2021 from Rs 195119.60 Crore as on 30.06.2020 registering a growth of 8.70%.

Despite performing good in Q1, UCO Bank ended at Rs13.70 down by Rs0.1 or 0.72% from its previous closing of Rs13.80 on the BSE.

Related Story

Open Free Demat Account (Rs699)