UCO Bank announces Financial Results for the Quarter Ended 31st December 2020

UCO Bank has announced the Financial Results for the Quarter Ended and nine months period ended 31st December 2020.

Financial Performance:

- Bank has made Net Profit of Rs. 35.44 Crore during the quarter ended December 2020 as against Net Loss of Rs. 960.17 Crore in the quarter ended December 2019.

- Operating Profit of the Bank for the quarter December 2020 stood at Rs. 1334.40 Crore as against Rs. 1210.52 Crore for the quarter ended December 2019 registering a growth of 10.23%. Operating Profit for the quarter is highest in last 23 quarters.

- Net Interest Income of the Bank for the quarter ended December 2020 has increased to Rs. 1407.15 Crore from Rs. 1236.59 Crore for the quarter ended December 2019 registering a growth of 13.79%.

- Other Income of the Bank for the quarter ended December 2020 stands at Rs. 864.38 Crore as against Rs. 743.47 Crore for the quarter ended December 2019.

- Total Business of the Bank has increased to Rs. 319218.28 Crore as on 31.12.2020 from Rs. 302241.63 Crore as on 31.12.2019 registering a growth of 5.62%.

- Total Deposits of the Bank has increased to Rs. 202421.04 Crore as on 31.12.2020 from Rs. 188436.99 Crore as on 31.12.2019 registering a growth of 7.42%.

- CASA of the Bank stood at 38.17 % as on 31.12.2020.

- Savings Deposits of the Bank has increased to Rs. 68234.74 Crore as on 31.12.2020 from Rs. 61221.49 Crore as on 31.12.2019 registering a growth of 11.46 %.

- Total Advances of the Bank stands at Rs. 116797.24 Crore as on 31.12.2020 as against Rs. 113804.65 Crore as on 31.12.2019 registering a growth of 2.63%.

- Gross NPA of the Bank has reduced to Rs. 11440.47 Crore (9.80%) as on 31.12.2020 from Rs. 22139.65 Crore (19.45%) as on 31.12.2019 and from Rs. 13365.74 Crore (11.62%) as on 30.09.2020.

- Net NPA of the Bank has reduced to Rs. 3228.08 Crore (2.97%) as on 31.12.2020 from Rs. 6199.65 Crore (6.34%) as on 31.12.2019 and from Rs. 3831.88 Crore (3.63%) as on 30.09.2020.

- Provision Coverage Ratio of the Bank has increased to 91.22% as on 31.12.2020 from 83.71% as on 31.12.2019 and from 89.82% as on 30.09.2020.

- Capital Adequacy Ratio of the Bank stood at 12.08% and CET-I Ratio at 9.01% as on 31.12.2020.

Shares of UCO BANK was last trading in BSE at Rs.13.08 as compared to the previous close of Rs. 12.88. The total number of shares traded during the day was 1899950 in over 2810 trades.

The stock hit an intraday high of Rs. 13.55 and intraday low of 12.89. The net turnover during the day was Rs. 25119267.

Source : Equity Bulls

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