Ashwani Kumar, MD and CEO, UCO Bank | Photo credit: Debash Bhaduri
The state lender UCO Bank reported about 24 percent of an interannual growth in their net gain to ₹ 652.43 million rupees for the fourth quarter the last prosecutor, backed by an increase of more than 30 percent interanualization in its duration of operational profits.
The Kolkata-based bank had registered net profits of ₹ 525.77 million rupees for the fourth quarter of the financial year 2023-24. The Bank Board has approached around ₹ 2.7 billion rupees to the letter through varied modes such as the qualified institutional placement (QIP) and the public monitoring offer (FPO) this prosecutor to reduce government participation in it.
The operational gain of the lender for the fourth quarter of fiscal year 2015 grew 33.46 percent year -on -year to ₹ 1,698,77 million rupees of ₹ 1,272.87 million rupees for the corresponding period of Fy24, he said in a presentation of the stock exchange. Net interest income (NII) for quarter under review grew 23.37 percent year -on -year to ₹ 2,698,49 million rupees, non -own income recorded growth or 23.76 percent year -on -year to ₹ 1,392.20 million rupees.
For the fourth fiscal trimester, the margin of Net Global Interest (NIM) stood at 3 percent compared to 3.03 percent for the corresponding prosecutor period.
“The Bank’s Growth in Advances and its Focus on counting the Cost of Funds contributed to the Profit Growth. We have work on Our Yield on Advances Separate from The Growth in Advances. And also so, we have focussed on containing cost or deposits by forcosits, forcosits, forcosits, forcosits, forcosits, forcosits Forcosits, Forcosits, Forcosits, Forcosits, Forcosits, Forcosits, Forcosits, Forcosits, Forest, Forest, Forest, Forest, Forest, Forest, Forcositos Forcositos, Forcoso Forcositos Forcos Forcos Forcos Forcositos forcositos forcosites forest forest forest forest forosits forcosits forcosits Forcosits forcosites forcositos forcositos forcositos and executive director Ashwani Kumar said after declaring the results of the fourth quarter of 2015.
Advance
Duration The fourth quarter of the last prosecutor, Bank’s gross advances increased by 17.72 percent year -on -year, while total deposits increased by 11.56 percent.
Kumar said that the bank’s goal for the growth of advances is around 12-14 percent for this tax, while the growth of deposits is expected to be around 10-12 percent. Its Global Nim guide is 3-3.10 percent in fiscal year 2016.
The quality of the lender’s asset improved the calculation of the period. The gross NPA ratio fell 77 basic points to 2.69 percent in the fourth quarter, the Na Neta of Wereas fell 39 Pb Yoy to 0.50 percent of duration in the period.
In March of this year, Uco Bank raised around ₹ 2,000 million rupees from the market to QIP, which resulted in the reduction of government possession at the bank to 90.95 percent from 95.39 percent in December last year.
“The current year, our Board has recommended the AGM approach to the issuance of 270 million capital shares of ₹ 10. If we can increase capital at the time of the opportunity, the government’s possession,” comes. “
Posted on April 28, 2025
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