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UCO Bank Q1 Results: Net Profit Rises 21.41% to Rs 123.61 Crore

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

UCO Bank Q1 Results: Net Profit Rises 21.41% to Rs 123.61 Crore

Sentinel Digital Desk

GUWAHATI: UCO Bank has announced its financial results for the quarter of the year ended 30th June 2022. The results are encouraging and look promising as there has been a constant growth in profits despite odds.
Bank has made a Net Profit of ₹ 123.61 Crore during the quarter ended June 2022 as against a Net Profit of ₹ 101.81 Crore in the quarter ended June 2021 registering a growth of 21.41%.
 The operating Profit of the Bank for the quarter of June 2022 stood at ₹ 439.94 Crore (Operating profit excluding MTM loss of ₹ 1093.43 Crore) as against ₹ 1173.41 Crore (Operating profit excluding MTM loss of ₹ 1286.29 Crore) for the quarter ended June 2021.
 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%.
 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.
 The 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%.
 Total Deposits of the Bank have 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%.
 CASA of the Bank (Domestic) stood at 39.25% as on 30.06.2022.
 Savings Deposits of the Bank have 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%.
 Total Advances of the Bank stand 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%.
 The Gross NPA of the Bank has reduced to ₹ 9739.65 Crore (7.42%) as on 30.06.2022 from ₹ 11321.76 Crore (9.37%) on 30.06.2021 and from ₹ 10237.43 Crore (7.89%) as on 31.03.2022.
 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.
 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.
 The capital Adequacy Ratio of the Bank stood at 14.13% and the CET-I Ratio at 11.29% as on 30.06.2022.

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