UCO Bank Financial Results for the quarter & nine month ended December 2019

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UCO Bank announces Financial Results for the Quarter / Nine Months Ended 31st Dec 2019

 

HIGHLIGHTS OF PERFORMANCE

 

Financial Parameters :

  • Operating Profit of the Bank for the quarter ended 31.12.2019 has increased to ` 52 Crore from ` 381.41 Crore for the quarter ended 31.12.2018 registering a growth of 217.38% .

 

  • Net Interest Income of the Bank for the quarter ended 31.12.2019 has increased to ` 59 Crore from ` 826.60 Crore for the quarter ended 31.12.2018 registering a growth of 49.60%.

 

  • Other Income of the Bank for the quarter ended 31.12.2019 has increased to ` 47 Crore from ` 248.24 Crore for the quarter ended 31.12.2018 registering a growth of 199.50 %.

 

  • Net Loss for the quarter ended 31.12.2019 has reduced to ` 17 Crore from ` 998.74 Crore for the quarter ended 31.12.2018.

 

  • Total Business of the Bank has increased to ` 63 Crore as on 31.12.2019 from ` 291515.62 Crore as on 31.12.2018 registering a growth of 3.68%.

 

  • Total Deposits of the Bank has increased to ` 99 Crore as on 31.12.2019 from ` 177905.44 Crore as on 31.12.2018 registering a growth of 5.92%.

 

  • Savings Deposits of the Bank has increased to ` 49 Crore as on 31.12.2019 from ` 56886.70 Crore as on 31.12.2018 registering a growth of 7.62 %.

 

  • Current Deposits of the bank has increased to ` 05 Crore 31.12.2019 from ` 9322.02 Crore as on 31.12.2018 registering a growth of 55.06%.

 

  • CASA of the Bank has increased to 40.16 % as on 31.12.2019 from 37.22 % as on 31.12.2018.

 

  • Gross NPA of the Bank has reduced to ` 65 Crore (19.45%) as on 31.12.2019 from  ` 31121.79 Crore (27.39%) as on 31.12.2018 and from ` 25665.14 Crore (21.87%) as on 30.09.2019.

 

  • Net NPA of the Bank has reduced to ` 65 Crore (6.34%) as on 31.12.2019 from ` 11755.61 Crore (12.48%) as on 31.12.2018 and from ` 7238.33 Crore (7.32%) as on 30.09.2019.

 

  • Provision Coverage Ratio of the Bank has increased to 83.71% as on 31.12.2019 from 69.49% as on 31.12.2018 and from 81.19% as on 30.09.2019.

 

  • Capital Adequacy Ratio of the Bank stood at 10.27 % and CET-I Ratio at 7.21 % as on 31.12.2019.

 

  • Bank has also taken initiatives for reduction of RWA and reduced its RWA to ` 98982 Crore as on 31.12.2019 from ` 100699 Crore as on 30.09.2019 and from ` 99957 Crore as on 31.12.2018.

 

  • Bank has raised Basel-III compliant Tier-II Bonds of ` 500 Crore to strengthen the Tier-II capital of the bank.

 

  • Government of India has infused capital of ` 2142 Crore towards equity capital on 03/01/2020.

 

 

 

 

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