UCO Bank announced Q2FY24 results: 1. Business Growth: - Total Business grew by 10.56% to Rs 4,17,145 crore on a YoY basis. - Gross Advances increased by 17.99% to Rs 1,67,734 crore on a YoY basis. - Total Deposits grew by 6.07% to Rs 2,49,411 crore on a YoY basis. 2. Advances in Retail, Agriculture, and MSME (RAM) Sectors: - RAM segment of the Bank increased by 17.61% to Rs 90,046 crore on a YoY basis. - Retail advances grew by 17.09% to Rs 36,362 crore. - Agriculture advances grew by 14.32% to Rs 22,985 crore. - MSME advances grew by 20.83% to Rs 30,699 crore. 3. Reduction in NPA: - Gross NPA reduced by 244 bps to 4.14% as of September 30, 2023. - Net NPA reduced by 88 bps to 1.11% as of September 30, 2023. 4. Strong Capital Adequacy Ratio: - Capital Adequacy Ratio (CRAR) improved by 281 bps to 16.83% as of September 30, 2023. - Tier I Capital Ratio improved by 294 bps to 14.19% as of September 30, 2023. 5. Improved Profitability & Return: - Net Profit of the Bank increased by 80% approximately to Rs 402 crore on a QoQ basis. - Return on Equity improved by 390 bps to 10.94% on a QoQ basis. - Return on Assets showed an improvement of 26 bps to 0.54%. 6. Credit to Deposit Ratio: - Credit to Deposit Ratio improved by 680 bps to 67.25% on a YoY basis. 7. Branch Network: - The bank has a network of 3,213 domestic branches and 2 overseas branches in Hong Kong and Singapore, along with 1 Representative office in Iran. - Out of the total branches, 61.78% or 1,985 branches are located in rural and semi-urban areas. - The bank has 2,472 ATMs and 8,747 BC Points, making the total number of touch points 1,4435 as of September 30, 2023. Result PDF