UCO Bank announces Financial Results for the Quarter ended 31st December 2018
- Operating profit of the Bank for the quarter ended 31.12.2018 has increased to Rs.381.41 Crore from Rs.368.95 Crore for the quarter ended 31.12.2017 registering a growth of 3.38%.
- Net Interest Income of the Bank for the quarter ended 31.12.2018 has increased to Rs.826.60 Crore from Rs.819.91 Crore for the quarter ended 31.12.2017 with a growth rate of 0.82 %.
- Net Loss for the quarter ended Dec'18 is reduced to Rs.998.74 crore from Rs.1016.44 crore incurred during Dec'17 quarter.
- Total Business of the Bank stood at Rs.291515.62 Crore as on 31.12.2018.
- Gross Advances of the Bank stood at Rs.113610.18 Crore as on 31.12.2018.
- Total Deposits of the Bank stood at Rs.177905.44 Crore as on 31.12.2018.
- Savings Deposit has increased from Rs.52365.54 Crore (31.12.2017) to Rs.56886.70 Crore (31.12.2018) registering a growth of 8.63 %.
- Current Deposit has increased from Rs.8886.53 crore (31.12.2017) to Rs.9322.02 crore (31.12.2018) registering a growth of 4.90%.
- CASA for the Bank has increased from 32.93 % (31.12.17) to 37.22 % as on 31.12.2018.
- Gross NPA of the Bank as on 31.12.2018 has increased to Rs.31121 Crore (27.39%) as against Rs. 29581 Crore (25.37%) as on 30.09.2018.
- Net NPA of the Bank reduced to Rs.11755.61 Crore as on 31.12.2018 from Rs 11820.21 Crore as on 30.09.2018
- Provision Coverage ratio of the Bank for the quarter ended 31.12.2018 has increased to 69.49% from 67.61% for the quarter ended 30.09.2018.
- Government of India infused Capital to the tune of Rs.3076 Crore during the quarter ended 31.12.2018 which is included in CET-I Capital.
- Capital Adequacy Ratio of the Bank improved and stood at 9.33% and CET-I Ratio at 7.14% as on 31.12.2018 as against 7.57 % & 5.57 % stood as on 30.09.2018.
- Bank has also taken initiatives for reduction in RWA and reduced its RWA from Rs. 109530 Crore as on 31.12.2017 to Rs 99957 Crore as on 31.12.2018.
Shares of UCO BANK was last trading in BSE at Rs.17.5 as compared to the previous close of Rs. 18.05. The total number of shares traded during the day was 110875 in over 400 trades.
The stock hit an intraday high of Rs. 18.3 and intraday low of 16.95. The net turnover during the day was Rs. 1946093.
Source: Equity Bulls
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