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

UCO Bank announces Financial Results for the Quarter / Nine Months Ended 31^st 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.