UCO Bank's net profit in September quarter doubles to `504.52 crore

New Delhi: State-owned UCO Bank on Thursday reported a more than two-fold jump in its net profit at Rs 504.52 crore for the quarter ended September 2022 as fall in bad loans resulted in lesser provisioning requirement.

The bank had reported a net profit of Rs 205.39 crore in the corresponding quarter a year ago.

Operating Profit of the Bank for the quarter September 2022 stood at Rs 1189.78 crore as against Rs 1334.15 crore for the quarter ended September 2021.

Net Interest Income of the Bank for the quarter ended September 2022 has increased to Rs 1769.60 crore from Rs 1597.72 crore for the quarter ended September 2021 registering a growth of 10.76 per cent.

Other Income of the Bank for the quarter ended September 2022 stood at Rs 779.94 crore as against Rs 936.07 crore for the quarter ended September 2021.

Total Business of the Bank has increased to Rs 37,7304.92 crore as on September 30, 2022 from Rs 33,5237.94 crore as on September 30, 2021 registering a growth of 12.55 per cent.

Total Deposits of the Bank has increased to Rs 23,5148.63 crore as on September 30, 2022 from Rs 21,3685.92 crore as on September 30, 2021 registering a growth of 10.04 per cent.

CASA of the Bank (Domestic) stood at 39.57 per cent as on 30.09.2022. Savings Deposits of the Bank has increased to Rs 79,027.12 crore as on September 30, 2022 from Rs 72,892.09 crore as on September 30, 2021 registering a growth of 8.42 per cent.

Total Advances of the Bank stands at Rs 1,42,156.28 crore as on September 30, 2022 as against Rs 1,21,552.03 crore as on September 30, 2021 registering a growth of 16.95

per cent.

Gross NPA of the Bank has reduced to Rs 9,358.92 crore (6.58 per cent) as on September 30, 2022 from Rs 10,909.79 crore (8.98 per cent) as on September 30, 2021 and from Rs 9,739.65 crore (7.42 per cent) as on June 30, 2022.

Net NPA of the Bank has reduced to Rs 2,700.29 crore (1.99 per cent) as on September 30, 2022 from Rs 3,854.33 crore (3.37 per cent) as on September 30, 2021 and from Rs 3103.82 crore (2.49 per cent) as on June 30, 2022.

Provision Coverage Ratio of the Bank has increased to 92.90 per cent as on September 30, 2022 from 90.02 per cent as on September 30, 2021 and from 91.96 per cent as on June 30, 2022. Capital Adequacy Ratio of the Bank stood at 14.02 per cent and CET-I Ratio at 11.25 per cent as on

September 30, 2022.