Public sector lender UCO Bank on November 3 reported a 20.3 percent fall in net profit at Rs 401.67 crore for the July-September quarter of the financial year 2023-24.
The Kolkata-headquartered bank reported a net profit of Rs Rs 504.52 crore in the year-ago period.
The bank's gross non-performing assets (GNPAs) declined to 4.14 percent from 4.48 percent of the year-ago period. Its net non-performing assets (NNPAs) fell to 1.11 percent from 1.18 percent.
Bank's total business grew by 10.56 percent to Rs.417145 crore on y-o-y, wherein Gross Advances up by 17.99 percent to Rs. 167734 crore on y-o-y & total deposits grew by 6.07 percent to Rs.249411 crore on y-o-y. UCO Bank's, Capital Adequacy Ratio (CRAR) improved to 16.83 percent as on September 30, 2023, as compared to 14.02 percent on September 2022, with Tier 1 ratio of 14.19 percent as of Sept 2023 as against 11.25 percent as on Sept 2022 registered an improvement of 281 bps and 294 bps in CRAR and Tier 1 respectively.
The bank has a network of 3213 domestic branches and 2 overseas branches in Hong Kong and Singapore & 1 Representative office in Iran. Out of the total branches, Bank has 61.78 percent i.e. 1985 branches in rural & semi-urban areas. The bank has 2472 ATMs and 8747 BC (Business Correspondents) Points making the total number of 14435 touch points as of September 30, 2023.
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