UCO Bank announces financial results during the quarter which ended on September 2022

KOLKATA: UCO Bank announced its financial results with a net profit of Rs 504.52 crore during the quarter which ended on September 2022 as against net profit of Rs 205.39 crore in the quarter which ended on September 2021 registering a growth of 145.64%.

The operating profit of the bank for the quarter September 2022 stood at Rs 1189.78 crore as against Rs 1334.15 crore for the quarter which ended on September 2021.

Net interest income of the bank for the quarter September 2022 has increased to Rs 1769.60 crore from Rs 1597.72 crore for the quarter that ended on September 2021 registering a growth of 10.76%.

Other income of the bank for the quarter September 2022 stood at Rs 779.94 crore as against Rs 936.07 crore for the quarter that ended on September 2021.

Total business of the bank has increased to Rs 377304.92 crore as on September 30, 2022 from Rs 335237.94 crore as on September 30, 2021 registering a growth of 12.55%.

Total deposits of the bank has increased to Rs 235148.63 crore as on September 30, 2022 from Rs 213685.92 crore as on September 30, 2021 registering a growth of 10.04%.

CASA of the bank (Domestic) stood at 39.57% as on September 30, 22. Savings Deposits of the bank has increased to Rs 79027.12 crore as on September 30, 2022 from Rs 72892.09 crore as on September 30, 2021 registering a growth of 8.42%.

Total advances of the bank stands at Rs 142156.28 Crore as on September 30, 2022 as against Rs 121552.03 Crore as on September 30, 2021 registering a growth of 16.95%.

Gross NPA of the bank has reduced to Rs 9358.92 Crore (6.58%) as on September 30, 2022 from Rs 10909.79 Crore (8.98%) as on September 30, 2021 and from Rs 9739.65 Crore (7.42%).

Net NPA of the bank has reduced to Rs 2700.29 Crore (1.99%) as on September 30, 2022 from Rs 3854.33 Crore (3.37%) as on September 30, 2021 and from Rs 3103.82 Crore (2.49%) as on June 30, 2022.

Provision Coverage Ratio of the Bank has increased to 92.90% as on September 30, 2022 from 90.02% as on September 30, 2021 and from 91.96% as on June 30, 2022. Capital Adequacy Ratio of the bank stood at 14.02% and CET-I Ratio at 11.25% as on September 30, 2022, stated a press release.

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