UCO Bank reports a 147% YoY increase in Q1 net profit to Rs 551 crore, with operating profit at Rs 1,321 crore.

State-owned UCO Bank has reported a 147% year-on-year jump in net profit to Rs 551 crore for Q1, with operating profit at Rs 1,321 crore. Total business growth was 11.46% to Rs 4,61,408 crore, while gross advances increased by 17.64% to Rs 1,93,253 crore. Capital adequacy ratio stood at 14.73%. Gross NPA declined by 116 basis points to 3.32%, and net NPA fell by 40 basis points to 0.78%.

July 22, 2024
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