UCO Bank Reports Robust Q4 Profit Amid Revenue Dip
Kolkata's UCO Bank announces a 23% surge in Q4 net profit to Rs 801 crore, despite a drop in quarterly income. The bank plans significant equity raising and bond issues for FY 2026-27, alongside improving asset quality with reduced NPAs and an enhanced provision coverage ratio.
UCO Bank, a prominent public sector lender headquartered in Kolkata, has reported a notable 23% increase in its net profit, amounting to Rs 801 crore for the fourth quarter ending March 31.
Despite this profit surge, the bank witnessed a decline in quarterly income from Rs 8,137 crore to Rs 7,365 crore compared to the previous fiscal year. The board has proposed a dividend of Rs 0.44 per share and approved a major equity capital raising strategy involving the issuance of 270 crore shares.
The bank's asset quality showed improvement with a reduction in Gross Non-Performing Assets to 2.17% and an enhanced Provision Coverage Ratio of 97.79%. UCO Bank aims to further bolster its finances through the issuance of bonds worth Rs 5000 crore during FY 2026-27.
(With inputs from agencies.)
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