UCO Bank Q3 PAT up 27% to ₹639 crore 

UCO Bank for the third quarter ended December 31 reported 27.04% growth in net profit at ₹639 crore as against ₹503 crore for the same period last year.

Operating Profit for the quarter at ₹1,586 crore 41.73% Year on Year (YoY).

The bank’s Gross NPA reduced by 94 bps YoY to 2.91 % as on December 31, 2024 whereas Net NPA reduced by 35 bps YoY to 0.63 % as on December 31, 2024.

Capital Adequacy Ratio (CRAR) stood at 16.25% at the end of the December quarter with Tier I Capital Ratio of 14.17% and Credit to Deposit Ratio stood at 74.45%.

Advances in Retail, Agriculture & MSME (RAM) Sectors increased by 22.01 % to ₹1,14,350 crore YoY backed by 31.01% YoY growth in Retail advances, 20.04% YoY growth in Agriculture advances and 12.75 % YoY growth in MSME advances.

Total business of the bank stood at ₹4,88,911 crore at the end of the quarter showing an increase of 12.28% YoY, wherein Gross Advances increased by 16.44% YoY to ₹2,08,655 crore and total deposits grew by 9.36% YoY to ₹2,80,256 crore, the bank said in a filing with exchanges.