UCO Bank announces Financial Results for the Quarter Ended 30th June 2022

Financial Performance:

v  Bank has made Net Profit of ₹ 123.61 Crore during the quarter ended June 2022 as against Net Profit of ₹ 101.81 Crore in the quarter ended June 2021 registering a growth of 21.41%.

v  Operating Profit of the Bank for the quarter June 2022  stood at ₹ 439.94 Crore (Operating profit excluding MTM loss ₹ 1093.43 Crore) as against ₹ 1173.41 Crore (Operating profit excluding MTM loss ₹ 1286.29 Crore) for the quarter ended June 2021.

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

v  Other Income of the Bank for the quarter ended June 2022 stood at ₹ -54.47 Crore (Other Income excluding MTM loss ₹ 599.02 Crore) as against ₹ 856.64 Crore (Other Income excluding MTM loss ₹ 969.52 Crore) for the quarter ended June 2021..

v  Total Business of the Bank has increased to ₹ 356677.47 Crore as on 30.06.2022 from ₹ 332946.17 Crore as on 30.06.2021 registering a growth of 7.13%.

v  Total Deposits of the Bank has 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%.

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

v  Savings Deposits of the Bank has 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%.

v  Total Advances of the Bank stands 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%.

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

v  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.

v  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.

v  Capital Adequacy Ratio of the Bank stood at 14.13% and CET-I Ratio at 11.29% as on 30.06.2022.