Uco Bank announces financial results; Net Profit of Rs 123.61 crore

GUWAHATI: Uco Bank has made a Net Profit of Rs 123.61 crore during the quarter ended June 2022 as against a Net Profit of Rs 101.81 crore in the quarter ended June 2021, registering a growth of 21.41%.

The operating Profit of the Bank for the quarter of June 2022 stood at Rs 439.94 crore (operating profit excluding MTM loss Rs 1093.43 crore) as against Rs 1173.41 crore (operating profit excluding MTM loss Rs 1286.29 crore) for the quarter ended June 2021.

Net Interest Income of the Bank for the quarter ended June 2022 has increased to Rs 1649.54 crore from Rs 1460.24 crore for the quarter ended June 2021, registering a growth of 12.96%.

Other Income of the Bank for the quarter ended June 2022 stood at Rs 54.47 crore (Other Income excluding MTM loss of Rs 599.02 crore) as against Rs 856.64 crore (Other Income excluding MTM loss of Rs 969.52 crore) for the quarter ended June 2021. The total Business of the Bank has increased to Rs 356677.47 crore as on 30.06.2022 from Rs 332946.17 crore as on 30.06.2021 registering a growth of 7.13%.

Total Deposits of the Bank have increased to ? 225327.74 Crore as on 30.06.2022 from ? 212096.82 Crore as on 30.06.2021 registering a growth of 6.24%.

CASA of the Bank (Domestic) stood at 39.25% as on 30.06.2022.

Savings Deposits of the Bank have increased to ? 77498.06 Crore as on 30.06.2022 from ? 71377.97 Crore as on 30.06.2021 registering a growth of 8.57%.

Total Advances of the Bank stand at ? 131349.73 Crore as on 30.06.2022 as against ? 120849.35 Crore as on 30.06.2021 registering a growth of 8.69%.

The Gross NPA of the Bank has reduced to ? 9739.65 Crore (7.42%) as on 30.06.2022 from ? 11321.76 Crore (9.37%) on 30.06.2021 and from ? 10237.43 Crore (7.89%) as on 31.03.2022.

Net NPA of the Bank has reduced to ? 3103.82 Crore (2.49%) as on 30.06.2022 from ? 4387.25 Crore (3.85%) as on 30.06.2021 and from ? 3315.78 Crore (2.70%) as on 31.03.2022. Provision Coverage Ratio of the Bank has increased to 91.96% as on 30.06.2022 from 88.53% as on 30.06.2021 and from 91.44% as on 31.03.2022. The capital Adequacy Ratio of the Bank stood at 14.13% and the CET-I Ratio at 11.29% as on 30.06.2022, a press release said.

Also Read: UCO Bank Q1 Results: Net Profit Rises 21.41% to Rs 123.61 Crore

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