UCO Bank net profit falls 23% to Rs 504 crore

The bank’s gross non-performing asset (NPA) stood at 3.85%, down from 5.63% recorded in the same quarter last year.
Representative Image.
Representative Image. (File Photo | AFP)

NEW DELHI: Public sector lender UCO Bank has reported a 22.8% fall in net profit to Rs 503.83 crore for the October-December quarter of financial year (FY) 2023-24 compared to Rs 652.97 crore clocked in the year-ago period.

The bank’s gross non-performing asset (NPA) stood at 3.85%, down from 5.63% recorded in the same quarter last year. Net NPA for the quarter stood at 0.98%, improving from 1.66% on a year-on-year basis. Shares of the lender closed for trading nearly 3.37% up at Rs 43.20 apiece on the BSE. UCO Bank’s total business grew by 10.46% to Rs 435456 crore on YoY, wherein gross advances rose by 18.63% to Rs 179195 crore on YoY & total deposits grew by 5.38% on to Rs 256261 crore.

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