UCO Bank Q3 net profit rises 15.8%

UCO Bank announced the financial results for the quarter ended on December 31, 2025 on Saturday, January 17. The lender reported a 15.76% year-on-year increase in net profit for the December quarter to ₹739.51 crore, compared to ₹638.83 crore in the corresponding period a year ago.

The lender’s total income for the December quarter rose to ₹7,521.16 crore, up from ₹7,405.89 crore in the year-ago period, while interest earned rose to ₹6,651.84 crore as against ₹6,219.96 crore, according to the exchange filing.

UCO Bank, headquartered in Kolkata, reported an operating profit increase of 5.96% to ₹1,680.24 crore in October-December, up from ₹1,585.69 crore in the same period last year.

Meanwhile, provisions and contingencies dropped to ₹525.12 crore in the quarter ending December, down from ₹589.51 crore, it stated.

UCO Bank showed progress in asset quality, with gross non-performing assets (NPA) decreasing to 2.41% as of December 31, down from 2.91% last year. The gross NPAs amounted to ₹5,867.25 crore, compared to ₹6,081.55 crore during the same period last year.

Net NPAs also improved, dropping to 0.36% at ₹852.55 crore from 0.63% at ₹1,283.13 crore.

The lender's capital adequacy ratio was 17.43 per cent as of December 31, improving from 16.25 per cent reported in the corresponding period of the previous year.

As of December 31, 2025, UCO Bank had a total of 3,327 domestic branches, along with 2 overseas branches in Hong Kong and Singapore, and one Representative Office in Iran. Approximately 61.25% of domestic branches are located in rural and semi-urban areas.

UCO Bank's operating profit rose by 11.92% to ₹4,856 crore as on December 31 2025, on a Y-o-Y basis, as against ₹4,339 Crore for the same period the previous year. The lender's net profit rose by 9.70% to ₹1967 crore for the period under review, on a Y-o-Y basis, against ₹1793 crore for the nine months ended December 31, 2024.

Net interest income (NII) grew by 9.38% on a year-over-year (Y-o-Y) basis to ₹7,582 crore for the nine months ended on December 31, 2024, as against ₹6,932 crore for the corresponding period previous year.

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UCO Bank Q2 Results: Net profit rises 2.82% YoY

 

UCO Bank reported a 2.82% year-on-year increase in net profit for the second quarter ended September 30, 2025, as per its official earnings disclosure. The bank's net profit stood at ₹620 crore in Q2 FY26 compared to ₹603 crore in the same period of the previous year.

Net interest income (NII) for the quarter rose by 10.08% year-on-year to ₹2,533 crore, up from ₹2,301 crore in the prior year, the bank said in a filing. The net interest margin (NIM) was reported at 2.90% globally and 3.08% domestically for the quarter ended September 30, 2025.

Asset quality showed improvement, with the gross non-performing assets (GNPA) ratio reducing to 2.56% as of September 30, 2025, from 3.18% a year earlier, marking an improvement of 62 basis points year-on-year.

The net NPA ratio also improved to 0.43% from 0.73% in the same period last year, reflecting a 30 basis points improvement. The provision coverage ratio stood at 96.99% as of the end of the quarter.

UCO Bank's total business grew by 13.23% year-on-year to ₹5,36,398 crore as of September 30, 2025, from ₹4,73,704 crore a year earlier. Total deposits increased by 10.85% year-on-year to ₹3,05,697 crore, while gross advances grew by 16.56% to ₹2,30,702 crore.

The Retail, Agriculture, and MSME (RAM) segment registered a year-on-year growth of 22.87%, reaching ₹1,32,946 crore as of September 30, 2025. Within this segment, retail advances grew by 25.40% year-on-year to ₹58,987 crore, agriculture advances increased by 17.28% to ₹31,650 crore, and MSME advances rose by 23.80% to ₹42,309 crore.

The bank's capital adequacy ratio (CRAR) stood at 17.89% as of September 30, 2025, with a Tier I capital ratio of 15.90%. The credit-to-deposit ratio improved to 75.47% from 71.77% a year earlier.

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UCO Bank Q1 results: Profit rises 10%

 State-owned UCO Bank on Monday reported 10 per cent increase in net profit at ₹607 crore for the first quarter of current financial year.

In the same quarter of the prior fiscal year, the bank with its headquarters in Kolkata made ₹551 crore in net profit. According to a regulatory statement of UCO Bank, total income increased from ₹6,859 crore to ₹7,433 crore during the June quarter of 2025–2026. 

 The bank's interest income increased to ₹6,436 crore from ₹6,024 crore during the June quarter of FY25. The bank's operating profit grew to ₹1,562 crore during that time, up from ₹1,321 crore the previous year.

As gross non-performing assets (NPAs) decreased from 3.32 percent of gross advances a year ago to 2.63 percent at the end of the June quarter, the bank's asset quality improved. 

 Likewise, net non-performing assets (NPAs), or bad loans, decreased from 0.78 percent to 0.45 percent during the same time last year. On the other hand, bad loan provisions increased by Rs 463 crore in the first quarter compared to Rs 397 crore in the same period last year. 

 From 95.76 percent to 96.88 percent, the Provision Coverage Ratio (PCR) increased. Meanwhile, Return on Assets (ROA) increased slightly from 0.7% in June 2025 to 0.71 percent in June 2025.

Capital adequacy ratio of the bank rose to 18.39 per cent, from 17.09 per cent in the same quarter of FY25.

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PSU Bank Introduces New Role of Floor Manager to Improve Customer Service

Beginning July 11, 2025, UCO Bank will be offering a new position called Floor Manager in all of its branches within the Chandigarh Zone. This action has been taken to improve customer service and guarantee that each and every client who visits the branch is assisted promptly and is completely happy. 

 The issue of subpar customer service has also been brought up on multiple occasions by the Ministry of Finance. Nearly all Indian public sector banks are currently attempting to enhance branch ambiance and customer service.

Roll and Responsibilities

Within the branch, the Floor Manager will serve as the main client contact. Their primary duty will be to ensure that clients are never left unattended and that their issues are promptly resolved. 

 They will keep a careful eye on the branch's entire client experience. To guarantee a seamless banking experience, the Floor Manager will also support and guide clients by guiding them through the branch, pointing them in the direction of the right counters or services, and giving them the information they need.

Coordinating with other branch employees to promptly and effectively resolve customer-related issues is another crucial responsibility of the floor manager. Reducing customer wait times and upholding a good standard of service depend on this collaboration. 

 Additionally, the Floor Manager will be in charge of gathering client feedback. The branch will use this input to pinpoint areas for improvement and service gaps. The Branch Manager will be informed of the observations so that appropriate action can be taken.

UCO Bank has made it clear that the collaboration and support of every branch employee are essential to the success of this new position. Employee collaboration is essential if the floor manager is to achieve the intended improvements. 

 Without their backing, this initiative's goal would be unsuccessful. Every branch in the Chandigarh Zone has been directed to designate a single employee to serve as the Floor Manager. 

Main Focus on Customer Service

Additionally, they must make sure the chosen individual understands the significance of their role and explicitly outline their obligations. The goal is to match this endeavor with the bank's overarching goal of providing excellent customer service.

UCO Bank's action demonstrates its steadfast dedication to operational excellence and client happiness.  The bank hopes to improve service delivery, lower customer complaints, and bolster its stellar service record by implementing the Floor Manager position.

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CA arrested in loan NPA case of Rs. 1460 crore for assisting the MD and CEO

Anant Kumar Agarwal, a chartered accountant, was detained by the Enforcement Directorate (ED), Kolkata office on June 25, 2025, in accordance with the Prevention of Money Laundering Act (PMLA), 2002. A bank fraud case involving M/s Concast Steel & Power Ltd. (CSPL) and other connected parties is connected to this arrest. Tools for managing finances

Anant Kumar Agarwal was brought before the Special PMLA Court in Kolkata following his detention, and the judge granted permission to detain him in ED custody until July 5, 2025, in order to conduct additional interrogation and investigation.

According to the ED probe, Anant Kumar Agarwal was instrumental in the concealment and handling of illicit funds, also known as proceeds of crime. He took this action on behalf of former UCO Bank Chairman and Managing Director (CMD) Subodh Kumar Goel.

According to claims, CA assisted in money laundering in a number of ways. Here are a few of the techniques:

He established and ran fictitious businesses, or "shell companies," solely to transfer illicit funds and pass them off as legitimate funds.

He demonstrated fictitious financial operations, including fictitious share capital and unsecured loans, using these fictitious businesses.

Real money was obtained and transferred covertly in exchange for these fictitious transactions.

Anant took money as payment for doing this work.

He also held important roles in some of these companies and used them to bring black money into official records by showing it as share capital or loans.

Background of the Case

Earlier, on May 16, 2025, Subodh Kumar Goel was arrested in the same case. ED found that:

• As CMD of UCO Bank, he approved loans worth over Rs.1,460 crore to Concast Steel & Power Ltd.
• Later, these loans turned into bad loans (NPA – Non-Performing Assets), which means the company did not return the money.
• In return for approving these huge loans, Goel received a lot of illegal benefits, such as Large amounts of cash, Properties, expensive goods and luxury services.
• These illegal benefits were sent to him secretly through a network of fake companies.

Raids and Findings

The ED also conducted search operations in Delhi and nearby areas. They were checking the role of some people who were:

• Taking money from others by falsely claiming they could help them in ED investigations.
• Basically, they were cheating people under the name of ED investigations.

During the searches, ED found Cash and gold and Important documents and digital devices containing evidence.

The ED has said that the investigation is still going on, and they are looking into more people and details involved in this entire fraud and money laundering network.

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UCO Bank Q4 Net profit jumps 24% YoY, Declare 39 paise dividend for FY25

With significant increase in business, profitability, and asset quality, UCO Bank has released a good set of financial results for the quarter and year that concluded on March 31, 2025. As of March 31, 2025, the bank's overall business rose 14.12% year over year to ₹5,13,527 crore. Gross advances increased 17.72% year over year to ₹2,19,985 crore, while total deposits increased 11.56% year over year to ₹2,93,542 crore. 

 Regarding profitability, UCO Bank recorded a net profit of ₹652 crore for the fourth quarter of FY2024–25, which is a noteworthy YoY growth of 23.98% over the ₹526 crore in the same time the previous year. The quarter's operating profit was ₹1,699 crore, up 33.48% year over year from ₹1,273 crore in Q4 of FY2023-24.

The bank also announced a dividend of 3.90% for FY2024-25, which equates to ₹0.39 per equity share.

The RAM (Retail, Agriculture, and MSME) sector performed well, growing by 25.74% year over year to reach ₹1,22,613 crore. In particular, robust demand for home loans and auto loans, which saw growths of 18.13% and 58.99%, respectively, supported retail advances, which increased by 35.09% YoY to ₹54,255 crore. 

 While MSME advances increased by 18.55% YoY, agriculture advances increased by 20.02% YoY. The bank stated that both the gross and net non-performing asset ratios had improved in terms of asset quality. As of March 31, 2025, net NPA improved to 0.50%, a decrease of 39 basis points YoY, while gross NPA was at 2.69%, a decrease of 77 basis points YoY. 96.69% was the Provision Coverage Ratio.

Regarding the bank's network, as of March 31, 2025, UCO Bank had a total of 3,302 domestic branches and two overseas branches in Hong Kong and Singapore, along with a representative office in Iran. 61% of the bank’s branches are in rural and semi-urban areas. Additionally, the bank operates 2,522 ATMs and 10,653 business correspondent points, totaling 16,480 touchpoints.

For the full fiscal year, UCO Bank reported a net profit of ₹2,445 crore, reflecting a 47.80% YoY increase from ₹1,654 crore in FY2023-24. Net Interest Income (NII) also showed strong growth, rising by 23.35% YoY to ₹2,698 crore for Q4 and 18.88% YoY to ₹9,630 crore for the full year.

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This PSU Bank orders Officers to work on Holidays

 

A circular issued by UCO Bank Pune Zone instructs officers to report for duty on holidays. According to the order, officials have been required to monitor the KCC Loan Accounts on April 26 and 27, 2025. According to the letter, UCO Bank has planned a special rectification camp throughout its Pune Zone in an attempt to enhance the performance and supervision of KCC (Kisan Credit Card) SGNPA (Special Mention Account – Non-Performing Assets) accounts. Selected officers from the Zonal Office have been assigned to visit different branches in order to promote the program, and the camp is scheduled for April 26 and 27, 2025.

Purpose of the Camp

The main aim of this camp is to assist branch teams, review the progress of SGNPA rectification efforts, and ensure that corrective actions are being taken to reduce NPA (Non-Performing Asset) levels under the KCC segment. The officers will provide guidance and collect field insights that will help in better managing loan accounts of farmers under the KCC scheme.

All assigned officers have been instructed to:

• Provide support and guidance to branch staff.
• Monitor the status of rectification of SGNPA accounts under KCC.
• Ensure that branches are taking timely action to meet set targets.
• Submit a detailed report of their findings and suggestions by 28th April 2025.

What is the issue?

The people on social media are criticizing the Bank for calling officers on holidays. The main points raised on social media are:

While the whole banking sector is calling for 5 Day Banking, such directives are seen as a big hurdle in the implementation of 5 Day Banking. Holidays are provided so that officers can relax and maintain a good work-life balance.

If officers will work for all the 7 days in a week, then when will they get the time to spend with their family and friends. Family, Friends and social life are an important part of life of human being and a human should be active on his/her social life.

Another important point is the utilisation of public money. UCO Bank is a public sector bank and the money in the bank belongs to the public. The bank has ordered officers to work on holidays and Bank will pay the officers for working on holidays. Normally officers are paid around Rs.1500-2000 per day for working on holiday. This is just mis-utilisation of funds.

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This PSU Bank Union announce Strike on 21 and 22 April

The bank's most recent transfer policy has drawn harsh criticism from the All India UCO Bank Officers' Federation (AIUCBOF), which describes it as "anti-officer" and a willful attempt to restrict workers' rights. General Secretary Sandeep Chowbey has written to the Managing Director and CEO of UCO Bank, requesting that the updated transfer policy, which was issued on March 29, 2025, be immediately withdrawn and that officers' employment conditions be improved.

Frustrated by the lack of response from the management, AIUCBOF has announced a nationwide organizational agitation starting April 2, 2025, and a two-day strike on April 21-22, 2025. The union has warned that further action may be taken if their grievances are not addressed. The federation has raised several objections regarding the transfer policy, such as:

• Unilateral Changes: The policy was revised twice in five months without incorporating officers’ inputs.
• Deterioration of Service Conditions: Key provisions, such as repatriation rules, transfer exemptions, and work-life balance considerations, have been altered against officers’ interests.
• Anti-Lady Officer Provisions: AIUCBOF has accused the bank of not implementing transfer benefits for female officers in the true spirit of the policy.
• Reduction in Maximum Retention Period: The allowed tenure has been reduced from 13 years to 8 years, causing distress among officers.
• Unfair Performance-Based Transfers: The bank has linked punishment transfers to performance, a move AIUCBOF calls subjective and prone to misuse.

Attack on Trade Unions Alleged

The union has also accused the bank of attempting to weaken trade unions by reducing exemptions for office bearers and introducing arbitrary restrictions on union leaders’ tenure. AIUCBOF warns that this move threatens the democratic representation of officers within the bank. Apart from the transfer policy, AIUCBOF has highlighted other longstanding issues, including:

• Acute staff shortages, forcing officers to perform clerical duties.
• Excessive work hours and unpaid overtime leading to health hazards.
• Workplace harassment, including misbehavior from senior management and punitive transfers for raising concerns.
• Lack of financial relief, such as TDS absorption on perquisites, despite other banks providing this benefit.

AIUCBOF has urged UCO Bank to reconsider the policy and hold discussions with officers before implementing any changes. The federation maintains that officers in Scales I, II, and III are crucial in driving the bank’s business and should not be subjected to arbitrary policies that undermine their rights. With the April 21-22 strike looming, the ball is now in UCO Bank management’s court to address officers’ grievances and avoid disruption in banking services.

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Government will sell stake in three PSU banks, why this situation came?

The central government can sell stake in three big public sector banks. These three banks are UCO Bank, Punjab and Sindh Bank and Indian Overseas Bank. The government has more than 95% stake in these, the rest is with public investors.

Let us tell you that as per the Minimum Public Shareholding (MPS) rules of SEBI, all listed companies should have at least 25% public shareholding. Keeping this in mind, the government has made a plan to sell its stake.

Live Mint news quoted sources as saying that depending on market conditions, the three banks may conduct multiple rounds of qualified institutional placement (QIP) in FY2026 to meet regulatory requirements.

The government has allowed public sector banks to explore equity dilution this year and time their market offerings strategically, a source said. The stake sale is expected to be between 5-10% of the paid-up equity capital this year.

SEBI gave time till August 2026 to public sector banks to comply with the rule. At the same time, Life Insurance Corporation of India (LIC) was given time till 16 May 2027 to reach 10% public shareholding.

By December 31, 2024, seven of the 12 public sector banks—State Bank of India, Punjab National Bank, Canara Bank, Bank of Baroda, Indian Bank, Union Bank of India and Bank of India—had fulfilled SEBI's MPS requirement.

Bank of Maharashtra and Central Bank of India have not yet taken steps to comply with the MPS rule. Let us tell you that the government has 93.08% stake in Central Bank of India, 79.60% in Bank of Maharashtra, 95.39% in UCO Bank, 98.25% in Punjab and Sindh Bank and 96.38% in Indian Overseas Bank.

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Government will decrease share by 3% in one PSU Bank by March 2025

State-owned UCO Bank announced on Tuesday its plan to raise Rs.2,000 crore through a Qualified Institutional Placement (QIP) during the current quarter. A few days earlier, Punjab & Sind Bank had announced to raise funds via QIP. The government has approved sale of stake in five public sector banks. These Banks will raise funds via QIP.

UCO Bank Managing Director and CEO Ashwani Kumar revealed that the government recently approved the QIP plan. Following this issuance, the Government of India’s stake in the bank, currently at 95.39% (as of December 2024), will decrease by 3%.

The government has extended the deadline for central public sector enterprises and public sector financial institutions to meet the MPS norms until August 2026. Of the 12 public sector banks, five, including UCO Bank, have yet to achieve the required public shareholding. The move aims to comply with the Securities and Exchange Board of India’s (SEBI) minimum public shareholding (MPS) norms, which require listed companies to maintain a public shareholding of at least 25%.

The bank has already appointed merchant bankers and legal advisers and initiated discussions with potential investors such as mutual funds. The QIP will be launched during the ongoing quarter when market conditions are favorable.

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UCO Bank Q3 Profit jumps 27%

Despite 73% higher provisions, state-owned UCO Bank reported a 27% year-over-year increase in net profit for the December 2024 quarter, coming in at Rs 639 crore as opposed to Rs 503 crore in the same period last year.

At Rs 1,586 crore, operating profit was 42% higher than at Rs 1,119 crore. During the quarter, the bank made a provision of Rs 590 crore, compared to Rs 342 crore during the same period last year.

Also Read - Quarterly Results of all banks for Q3FY25

For the quarter, the bank's net interest margin was 3.17%, which was 33 basis points more than it was a year earlier. At Rs 2378 crore, net interest income increased by around 20%.

"We would like to maintain NIM around 3%-3.10% level,' managing director Ashwani Kumar said.

Its asset quality further improved with gross non-performing assets ratio falling to 2.91% at the end of review period from 3.85% a year back. Net NPA stood at 0.63% against 0.98%. Provision coverage ratio stood at 96%.

Uco's gross advances grew 16.44% year-on-year to Rs.2.09 lakh crore while total deposits expanded by 9.36% to Rs 2.80 lakh crore. Its credit-deposit ratio rose to 74.45% from 64.83% in March 2023.

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UCO Bank Local Bank Officer(LBO) Recruitment for 250 posts

Applications are being accepted for the positions of Local Bank Officer at UCO Bank. Candidates who meet the requirements can apply online at ucobank.com, the official UCO Bank website. 250 positions inside the company will be filled via this hiring campaign.



January 16 marks the start of the registration period, which ends on February 5, 2025. Details on eligibility, the selection procedure, and other information are provided below.

Eligibility Criteria

A Degree (graduation) in any discipline from a University recognised by the Govt. of India or any equivalent qualification recognized as such by the Central Government. The candidate must possess valid Mark-sheet / Degree Certificate and indicate the percentage of marks obtained in Graduation while registering for the position. The age limit of the candidate should be between 20 years to 30 years.

Selection Process

The selection process comprises of written test. The question paper will comprise of questions from Reasoning & Computer Aptitude, General/ Economy/ Banking Awareness, English Language and Data Analysis & Interpretation. For each question for which a wrong answer has been given by the candidate one fourth or 0.25 of the marks assigned to that question will be deducted as penalty to arrive at corrected score. If a question is left blank, i.e. no answer is marked by the candidate; there will be no penalty for that question.

Vacancy Details

• Gujarat: 57 posts
• Maharashtra: 70 posts
• Assam: 30 posts
• Karnataka: 35 posts
• Tripura: 13 posts
• Sikkim: 6 posts
• Nagaland: 5 posts
• Meghalaya: 4 posts
• Kerala: 15 posts
• Telangana & Andhra Pradesh: 10 posts
• J&K: 5 posts

Application Fee

The application fee or intimation charges is ₹175/- for SC/ST/PwBD candidates and ₹850/- for all others. Bank Transaction charges for Online Payment of application fees/ intimation charges will have to be borne by the candidate. Fee/ Intimation charges once paid will not be refunded on any account nor can it be held in reserve for any other exam or selection.

Detailed Notification Click Here 

Direct link to apply click here 

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Government plans to sale stake in five PSU banks

A Rs.10,000 crore fund-raising plan for five state-run institutions via the Qualified Institutional Placement (QIP) route has been approved by the government.



According to sources, four additional lenders—Punjab & Sind Bank, Indian Overseas Bank, UCO Bank, and Central Bank of India—have been given permission to raise money in addition to the Bank of Maharashtra. According to the sources, these lenders may begin raising money in tiny installments as early as the fourth quarter of the 2025 fiscal year.

"The Department of Disinvestment and Public Asset Management (DIPAM) has also been mandated to sell a stake in these lenders through the Offer For Sale (OFS) route," the sources noted.



By August 2026, the government hopes to have a minimum of 25% of these PSU banks' shares held by the general people. The Department of Financial Services has administrative authority for state-run lenders.



According to the most recent shareholding pattern on the BSE, the government owns 79.6% of Bank of Maharashtra, 98.25% of Punjab & Sind Bank, 96.38% of Indian Overseas Bank, 95.39% of UCO Bank, and 93.08% of Central Bank of India as of the end of the December quarter.Based on the current share price, the excess government stake in these five lenders stands at nearly Rs.50,000 crore.

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UCO Bank Q2 Net profit rises 50%

 

State-owned UCO Bank Ltd on Saturday (October 19) reported a 50% year-on-year (YoY) jump in net profit at ₹602 crore for the second quarter that ended September 30, 2024. In the corresponding quarter of the previous fiscal, UCO Bank posted a net profit of ₹401.7 crore, the bank said in a regulatory filing.

Net interest income (NII), which is the difference between the interest income a bank earns from its lending activities and the interest it pays to depositors, increased 20%, coming at ₹2,300.4 crore against ₹1,916.5 crore in the corresponding quarter of FY24.

The gross non-performing asset (GNPA) stood at 3.18% in the September quarter against 3.32% in the June quarter. Net NPA came at 0.73% against 0.78% quarter-on-quarter.

Net interest income (NII), which is the difference between the interest income a bank earns from its lending activities and the interest it pays to depositors, increased 20%, coming at ₹2,300.4 crore against ₹1,916.5 crore in the corresponding quarter of FY24.

The gross non-performing asset (GNPA) stood at 3.18% in the September quarter against 3.32% in the June quarter. Net NPA came at 0.73% against 0.78% quarter-on-quarter.

In monetary terms, gross NPA stood at ₹6,293.86 crore against ₹6,420.12 crore quarter-on-quarter, whereas net NPA came at ₹1,406.44 crore against ₹1,473.42 crore quarter-on-quarter.

The bank's Net Interest Margin (NIM) for Q2 of FY25 stood at 3.10%, showing an improvement from 2.84% in the corresponding quarter of the previous year. For the first half of FY25, the NIM was 3.09%, compared to 2.92% for the same period in FY24.

The total business of the bank stood at ₹4,73,704 crore as of September 30, 2024, showing an increase of 13.56% year-on-year, wherein Gross Advances increased by 18% to ₹1,97,927 crore on year-on-year and total deposits grown by 10.57% on year-on-year to ₹2,75,777 crore. Operating profit for the quarter ended on September 30, 2024, stood at ₹1,432 crore showing an increase of 45.82% on year-on-year basis.

Advances in the Retail, Agriculture & MSME (RAM) sectors of the bank increased by 20.16 % to ₹1,08,200 crore on a year-on-year backed by 29.36% year-on-year growth in retail advances,17.41% year-on-year growth in Agriculture advances and 11.32% year-on-year growth in MSME advances. Capital Adequacy Ratio (CRAR) stood at 16.84% as of September 30, 2024, with a Tier I Capital Ratio of 14.59%.

UCO Bank reported a Credit to Deposit Ratio of 71.77% as of September 30, 2024. The bank's total business grew by 13.56% year-on-year, reaching ₹4,73,704 crore, up from ₹4,17,145 crore on September 30, 2023. Total deposits increased by 10.57% year-on-year to ₹2,75,777 crore, compared to ₹2,49,411 crore a year ago.

Gross advances saw robust growth, rising 18% year-on-year to ₹1,97,927 crore, up from ₹1,67,734 crore in the previous year. Business per employee also improved, reaching ₹22.10 crore during Q2 of FY25, up from ₹19.06 crore in the same period of the prior year.

UCO Bank's retail advances reached ₹47,039 crore as of September 30, 2024, marking a strong 29.36% year-on-year growth, driven by its home and vehicle loan portfolios. Home loans grew by 18.98%, while vehicle loans surged by 38.66% year-on-year.

Additionally, the bank’s agriculture advances rose by 17.41% year-on-year, reaching ₹26,987 crore as of September 30, 2024, up from ₹22,985 crore in the previous year.

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UCO Bank Q1 Net profit jumps 147%

Kolkata-headquartered UCO Bank on Monday reported a 147% year-on-year (y-o-y) rise in its net profit for the quarter ended June 2024 at Rs 551 crore, led by higher other income, and interest margin.

The lender’s non-interest income grew 32% y-o-y to Rs 835 crore during Q1FY25, whereas net interest income (NII) was up 12% y-o-y at Rs 2,254 crore. Global net interest margin (NIM), too, rose to 3.09% in the reporting quarter from 2.86% a year ago. The lender is aiming to maintain its NIM in the 2.9%-3% range going ahead, MD & CEO Ashwani Kumar said at a post results conference.

Overall advances of the bank were up 18% y-o-y to Rs 1.93 trillion as in June-end. Retail, agriculture and MSME (RAM) loans formed 61% of the lender’s loan book and grew 19% y-o-y, whereas corporate loans rose 20% y-o-y to Rs 64,611 crore. The bank aims to grow its loan book by 12%-14% in the current fiscal.

On liabilities side, UCO Bank’s deposits grew 7% y-o-y to Rs 2.68 trillion. The lender’s credit-deposit (CD) ratio, accordingly, moved up by 628 basis points (y-o-y) to 72% in Q1FY25. The state-owned bank is comfortable with its CD ratio touching 75% mark and has simultaneously introduced new deposit schemes to attract retail deposits. The bank is targeting to grow deposits by 8-10% in FY25.

UCO Bank’s asset quality also improved, with gross bad loan ratio falling by 116 basis points (bps) y-o-y to 3.32% and net non-performing asset ratio (NNPA) moderating by 40 bps to 0.78% in Q1FY25.

Lastly, the MD said the bank will likely raise Rs 2,000 crore in Q2FY25 or Q3FY25 via equity, which will dilute the government’s stake in the bank by 2%-3%. The Centre held 95% stake in UCO Bank as of June 2024.

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Latest Bank Merger News : 4 PSU Banks likely to be merged

According to sources, the government has formulated its plan for the second round of merger of PSU banks. The government is considering two options for merging four small government banks. To facilitate the merger, changes are being prepared in the Banking Regulation Amendment Act. One option is to merge UCO Bank, Bank of Maharashtra, Punjab & Sind Bank, and Central Bank of India.

The second option involves merging with Union Bank of India, Canara Bank, or Indian Bank according to the banking software. 

The government aims to make these changes in the Banking Regulation Amendment Act to facilitate the merger process. 

The functioning of UCO Bank, Punjab & Sind Bank, Bank of Maharashtra, and Central Bank has shown improvement in the past few years. This is a developing story.

Let us tell you that the government has a 98.25 per cent stake in Punjab & Sind Bank.

While the government has a 93.08 per cent stake in Central Bank, 86.46 per cent in Bank of Maharashtra and a 95.39 per cent in UCO Bank.

The government had announced the merger of 10 public sector banks into four entities in 2019.

This was part of the government's policy to strengthen public sector banks (PSU Bank Mergers) to strengthen their finances for a strong national presence and global reach.

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UCO Bank Q4 Standalone net profit down 9.5%

UCO Bank on Monday said that its board has approved the issuance of fresh equity shares with a face value of Rs 4,000 crore in the current fiscal year.

The Kolkata-based bank also reported a standalone net profit of Rs 525.77 crore for the fourth quarter ended March 2024, a decrease of 9.5 per cent compared to the corresponding period last year.

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Subject to shareholder approval, the lender will explore various methods like QIP (Qualified Institutional Placement), FPO (Follow-on Public Offer), etc, for issuing 400 crore equity shares of Rs 10 each, the bank informed bourses.  

This issuance may occur in multiple tranches during FY25. The capital infusion is expected to support the bank's growth plans.

UCO Bank's total income for the quarter grew by 17.44 per cent to Rs 6,984.61 crore. The bank also witnessed an improvement in asset quality, with gross NPA falling to 3.46 per cent compared to 4.78 per cent a year ago.

The lender further declared a dividend of Rs 0.28 per share for FY24.

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UCO Bank Q3 Net profit falls 23%

 

Public sector lender UCO Bank on January 24 reported a net profit of Rs 503.83 crore for the October-December quarter of financial year (FY) 2023-24, which marks a 22.8 percent falls as compared to Rs 652.97 crore clocked in the year-ago period.

The bank's gross non-performing asset (NPA) stood at 3.85 percent, down from 5.63 percent recorded in the same quarter last year. On the other hand, net NPA for the quarter stood at 0.98 percent, improving from 1.66 percent on a year-on-year basis.

UCO Bank's total business grew by 10.46 percent to Rs.435456 crore on y-o-y, wherein gross advances increased by 18.63 percent to Rs. 179195 crore on y-o-y & total deposits grew by 5.38 percent on y-o-y to Rs.256261 crore.

Public sector lender net interest income (NII) for the nine months ended December 31, 2023, stood at Rs.5914 crore registering a growth of 10 percent on the y-o-y basis as against Rs.5371 crore for the nine months ended December 31, 2023. The Provision Coverage Ratio improved to 95.21 percent as on December 31, 2023. as against 93.58 percent as on December 31, 2022, registering an improvement of 163 bps on y-o-y basis and 14 bps on q-o-q basis.

UCO bank has a network of 3217 domestic branches and 2 overseas branches each at Hong Kong and Singapore Centre & 1 representative office in Iran as of December 31, 2023.

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