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28 Oct 2021

UCO Bank logs multifold jump in Q2 net profit at Rs 205 crore

Business Standard

UCO Bank on Thursday reported a multifold jump in net profit at Rs 205.39 crore for the second quarter ended September 2021 as bad loans fell. The Kolkata-headquartered public sector lender had registered a net profit of Rs 30.12 crore in the year-ago period. Total income in July-September 2021-22 rose to Rs 4,655.86 crore from Rs 4,327.13 crore in the year-ago period, the lender said in a regulatory filing. Reserve Bank of India (RBI) had recently removed UCO Bank from its prompt corrective action (PCA) framework following improvement in various parameters. The bank came under the purview of PCA restrictions in May 2017. "This is the best result in the last three years. This shows that the bank is on the growth path", UCO Bank MD and CEO A K Goel said. Operating profit of the lender during the second quarter of the current fiscal increased by 24 per cent to Rs 1,334 crore as compared to Rs 1,075 crore in the same period last year. The capital adequacy ratio at 14.31 per cent a

UCO Bank has lost -30.58% in the last 1 Year

UCO Bank posts five-fold rise in Q2 profit to 205 crore

Business Line | 28 Oct 2021 3 more

UCO Bank

14 Sep 2021

UCO Bank sees improved investor appetite'

Business Line

The bank had recently received the board approval to raise close to 3,000 crore capital in 2021-22

UCO Bank is trading below its 200 day SMA of 33.9

UCO Bank

10 Sep 2021, 07:25AM

UCO Bank shares may rally up to 40% after PCA exit

Economic Times

The Kolkata-based lender had reported a nearly four-fold jump in net profit in the June quarter at 10.18 crore compared to 2.15 crore profit in the same period a year ago. Its total income gained 2.3% to 453.91 crore.

UCO Bank is trading above its 150 day SMA of 31.3

UCO Bank shares surge post exit from PCA framework. Should you buy?

livemint | 09 Sep 2021, 11:26AM 1 more

UCO Bank

28 Aug 2021

Centre extends tenure of UCO Bank MD & CEO Atul Kumar Goel for 2 years

livemint

Central government announced the extension of Atul Kumar Goel's term in a notification dated August 26.Goel's term was originally scheduled to expire on November 1

Number of MF schemes increased from 14 to 20 in Sep 2025 qtr.

UCO Bank

27 Jul 2021

UCO Bank posts four-fold rise in Q1 profit at 102 crore

Business Line

Buoyed by higher net interest income and other income

UCO Bank is trading below its 200 day SMA of 33.9

UCO Bank net profit jumps over 4-fold to Rs 102 crore in first quarter

Business Standard | 27 Jul 2021 1 more

UCO Bank

19 Jun 2021

State-owned UCO Bank looks to raise up to Rs 500 crore

Business Standard

The board of directors will consider the proposal for raising tier-II capital of up to Rs 500 crore at its meeting scheduled to be held on June 23

UCO Bank is trading above its 150 day SMA of 31.3

UCO Bank

07 Jun 2021

UCO Bank likely to rejig loans worth 1,000 crore

Business Line

2,314 retail, MSME accounts restructured under Resolution 2.0

UCO Bank is trading above its 150 day SMA of 31.3

Hopeful of coming out of PCA framework soon: UCO Bank MD

Business Today | 07 Jun 2021 1 more

UCO Bank

28 May 2021

UCO Bank aims 7-10% growth in FY22, allots shares to government

Business Standard

City-based UCO Bank on Friday said it was aiming at a growth of 7-10 per cent in the current fiscal amid the second round of restructuring guidelines from the regulator due to the second wave of COVID-19 disruptions. The bank also allotted 203.76 lakh shares to the government at Rs 12.76 per share against Rs 2,600 crore infusion in the bank. The bank board had also approved a further capital raising plan of Rs 3,000 crore in 2021-22. "We are hopeful for a business growth of 7-10 per cent in the current fiscal. We will do better in the current fiscal as our provisioning will be lower going forward and maintain net interest margin (NIM) target of 2.7-2.75 per cent," the bank's MD and CEO A K Goel said. He said based on the restructuring demand for the first wave of COVID-19 "we expect the demand for restructuring may be between Rs 750-1,000 crore even though we will not decline anyone eligible." "In the previous round, the total demand was less than Rs 400 crore. In thi