UCO Bank announces Financial Results for the Quarter / Half Year Ended 30th Sept 2019
Highlights of Performance:
- Operating Profit of the Bank for the quarter ended 30.09.2019 has increased to Rs. 1207.04 Crore from Rs. 506,10 Crore for the quarter ended 30.09.2018 registering a growth of 138.50%.
- Net Interest Income of the Bank for the quarter ended 30.09.2019 has increased to Rs. 1266.20 Crore from Rs. 964.58 Crore for the quarter ended 30.09.2018 registering a growth of 31.27%.
- Other Income of the Bank for the quarter ended 30.09.2019 has increased to Rs. 728.87 Crore from Rs. 269.48 Crore for the quarter ended 30.09.2018 registering a growth of 170.47%.
- Net Loss for the quarter ended 30.09.2019 has reduced to Rs. 891.98 Crore from Rs. 1136.44 Crore for the quarter ended 30.09.2018.
- Total Business of the Bank has increased to Rs. 306914.01 Crore as on 30.09.2019 from Rs. 298822.75 Crore as on 30.09.2018 registering a growth of 2.71%.
- Gross Advances of the Bank has increased to Rs. 117329.10 Crore as on 30.09.2019 from Rs. 116596.41 Crore as on 30.09.2018 registering a growth of 0.63%.
- Total Deposits of the Bank has increased to Rs. 189584.91 Crore as on 30.09.2019 from Rs. 182226.35 Crore as on 30.09.2018 registering a growth of 4.04%.
- Savings Deposits of the Bank has increased to Rs. 60411.52 Crore as on 30.09.2019 from Rs. 56342.44 Crore as on 30.09.2018 registering a growth of 7.22%.
- Current Deposits of the bank has increased to Rs. 16464.56 Crore 30.09.2019 from Rs. 11003.14 Crore as on 30.09.2018 registering a growth of 49.64%.
- CASA of the Bank has increased to 40.55% as on 30.09.2019 from 36.96% as on 30.09.2018.
- Gross NPA of the Bank has reduced to Rs. 25665.14 Crore [21.87%) as on 30.09.2019 from Rs. 29581.49 Crore [25.37%) as on 30.09.2018 and from Rs. 29431.60 Crore [24.85%) as on 30.06.2019.
- Net NPA of the Bank has reduced to Rs. 7238.33 Crore [7.32%) as on 30.09.2019 from Rs. 11820.21 Crore [11.97%) as on 30.09.2018 and from Rs. 8781.97 Crore [8.98%) as on 30.06.2019.
- Provision Coverage Ratio of the Bank has increased to 81.19% as on 30.09.2019 from 67.61% as on 30.09.2018 and from 77.12% as on 30.06.2019.
- Capital Adequacy Ratio of the Bank stood at 11.44 % and CET-I Ratio at 8.93% as on 30.09.2019.
- Bank has also taken initiatives for reduction of RWA and reduced its RWA to Rs. 100699 Crore as on 30.09.2019 from Rs. 101830 Crore as on 30.09.2018.
Shares of UCO BANK was last trading in BSE at Rs.14.23 as compared to the previous close of Rs. 13.73. The total number of shares traded during the day was 362853 in over 1043 trades.
The stock hit an intraday high of Rs. 15.32 and intraday low of 14. The net turnover during the day was Rs. 5314255.
Source: Equity Bulls
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