In the third quarter of the 2024–25 fiscal year, UCO Bank reported a 26.71 per cent increase in net profit to Rs 640.16 crore .It made Rs 505.23 crore in net profit during the same period last year.
Net interest income and margin
In Q3 of FY24, its total revenue was Rs 6,412.71 crore, up 15.49 per cent to Rs 7,405.89 crore. Furthermore, thanks to better yields and increased advances, its net interest income (NII) increased 19.06 per cent to Rs 2,377 crore from Rs 1,988 crore in the corresponding quarter of the previous fiscal year.
The net interest margin (NIM) of UCO Bank was 3.17 per cent for the quarter, compared to 2.84 per cent for the quarter under review in the last financial year.
Exchange filling
Gross and net NPA (Non - performing assets)
The bank's gross non-performing assets (NPA) ratio decreased by 94 basis points to 2.91 per cent from 3.85 per cent during the same period last year, indicating an improvement in asset quality.
Its net non-performing asset (NPA) increased 35 basis points to 0.63 per cent from 0.98 per cent in the quarter ending December 31, 2023.
During the same time period, the provision coverage ratio (PCR) increased to 96.16 per cent from 95.21 per cent in the previous fiscal year.
Earnings for 9M FY25
UCO Bank reported a 58.9 per cent increase in net profit to Rs 1,792.53 crore for the nine months ending December 31, 2024, as opposed to Rs 1,127.97 for the nine months of FY24.
According to the lender, the bank's overall revenue for the nine months increased 17.6 per cent to Rs 21,33,674 crore from Rs 18,13,526 crore during the same period the previous year.
For the nine months that ended in December 2024, the bank's NIM was 3.12 per cent as opposed to 2.88 per cent.
