UCO Bank posts 17% loan growth in Q1

New Delhi: State-owned UCO Bank on Thursday said it has registered a credit growth of 16.58 per cent at Rs 2.25 lakh crore in the April-June quarter.

The outstanding credit was Rs 1.93 lakh crore at the end of the first quarter of the previous fiscal, UCO Bank said in a regulatory filing.

The Kolkata-headquartered lender reported an 11.57 per cent increase in total deposits to Rs 2.99 lakh crore in the reporting quarter as against Rs 2.68 lakh crore at the end of the first quarter of the previous financial year.

As a result, total business (total credit and deposits) of the bank registered an increase of 13.67 per cent to Rs 5.24 lakh crore as against Rs 4.61 lakh crore at the end of June 30, 2024.

During the latest quarter, it said, the Current Accounts and Savings Accounts (CASA) ratio declined to 36.90 per cent of the total deposits as against 38.62 per cent in the same period of the preceding financial year.

The credit-deposit ratio increased to 75.48 per cent in the first quarter as against 72.07 per cent in the year-ago period.