UCO Bank announced Q1FY25 results: Business Growth - Total Business grew by 11.46% to Rs 4,61,408 crore on YoY, wherein Gross Advances increased by 17.64% to Rs 1,93,253 crore on YoY & Total Deposits grown by 7.39% on YoY to Rs 2,68,155 crore. Improved Profitability & Return - Net profit for the quarter ending 30.06.2024 stood at Rs 551 crore as against Rs 223 crore for the same period of preceding year, registering a growth of 147.09% YoY. Operating Profit for the quarter ended 30.06.2024 stood at Rs 1,321 crore showing an increase of 9.81% on YoY basis. Advances in Retail, Agriculture & MSME (RAM) Sectors - RAM segment of the Bank increased by 18.65% to Rs 1,01,986 crore on YoY backed by 21.84% YoY growth in Retail advances, 19.64% YoY growth in Agriculture advances and 14.04% YoY growth in MSME advances. Reduction in NPA - Gross NPA reduced by 116 bps YoY to 3.32% as on 30.06.2024 whereas Net NPA reduced by 40 bps YoY to 0.78% as on 30.06.2024. Strong Capital Adequacy Ratio - Capital Adequacy Ratio (CRAR) improved by 24 bps YoY to 17.09 % as on 30.06.2024 wherein Tier 1 Capital Ratio improved by 59 bps YoY to 14.75% as on 30.06.2024. Credit to Deposit Ratio registered an improvement of 636 bps to 72.07% on YoY basis. Result PDF
UCO Bank announced FY24 results: Financial Highlights: Business Growth - Bank has shown consistent growth where total Business grew by 9.50% YoY to Rs 4,50,007 crore ( 3.34% from Rs 4,35,456 crore. QoQ) and Gross Advances increased by 15.62% YoY to Rs 1,86,877 crore ( 4.29% from Rs 1,79,195 crore QoQ). Total Deposits grown by 5.53% YoY to Rs 2,63,130 crore (2.68% from Rs 2,56,261 crore. QoQ). Advances in Retail, Agriculture & MSME (RAM) Sectors - RAM segment of the Bank increased by 13.88% YoY to Rs 97,516 crore ( 4.05% from Rs 93,720 crore. QoQ) backed by 14.62% YoY growth in Retail advances , 13.16% YoY growth in Agriculture advances and 13.53% YoY growth in MSME advances. Reduction in NPA – Asset quality improvement is depicted by reduction in Gross NPA by 132 bps to 3.46% ( by 39 bps from 3.85% QoQ) Net NPA reduction by 40 bps to 0.89% ( by 9 bps from 0.98% QoQ)) as on 31.03.2024. Strong Capital Adequacy Ratio - Capital Adequacy Ratio (croreAR) improved by 47 bps to 16.98 % as on 31.03.2024 wherein Tier I Capital Ratio improved by 58 bps to 14.54% as of March 31, 2024. Profitability & Return - Operating Profit for the twelve months ended March 31, 2024, stood at Rs 4,576 crore, showing an increase of 5.43% YoY. The same has increased 13.74% QoQ from Rs 1,119 crore. to Rs 1,273 crore. Credit to Deposit Ratio registered an improvement of 620 bps to 71.02% on YoY basis. Dividend: After gap of nine years, the bank has recommended for declaring dividend @2.80% of face value i.e. 28 paisa per share. Result PDF