UCO Bank Shows 10% Profit Increase Amid Asset Quality Gains
UCO Bank reported a 10% rise in net profit for the first quarter of the financial year, with profits reaching Rs 607 crore. The bank's income and interest earnings also improved, while gross and net NPAs decreased significantly. Capital adequacy improved to 18.39% as asset quality strengthened.
- Country:
- India
State-owned UCO Bank has announced a 10% increase in net profit, reaching Rs 607 crore for the first quarter, compared to Rs 551 crore in the same period last fiscal year.
In a regulatory filing, the Kolkata-based bank disclosed that total income for the June quarter rose to Rs 7,433 crore from Rs 6,859 crore a year earlier. The bank's interest earnings improved to Rs 6,436 crore, up from Rs 6,024 crore in the first quarter of fiscal year 2025.
Operating profits also increased, along with asset quality improvements as gross non-performing assets declined to 2.63% of total advances. The Capital Adequacy Ratio rose to 18.39%, underscoring the bank's strengthened financial position.
(With inputs from agencies.)
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