Shares of state-run UCO Bank would be in focus on Monday morning after the PSU bank reported an 80.80 per cent year-on-year (YoY) rise in net profit at Rs 223 crore fo the June quarter compared with Rs 124 crore in the same quarter last year. The lender said its net interest income (NII) for the quarter rose 21.78 per cent YoY to Rs 2,009 crore from Rs 1,650 crore in the corresponding quarter last year.
Net interest margin (NIM) for the quarter improved 12 basis points to 2.86 per cent from 2.74 per cent in the year-ago quarter. UCO Bank reported its quarterly results post market hours of Friday.
Gross non-performing assets as percentage of advances stood at 4.48 per cent for the quarter compared with 4.78 per cent in the March and 7.42 per cent in the year-ago quarter. In value terms, gross NPAs stood at Rs 7,355 crore compared with Rs 9,740 crore YoY.
Slippage ratio stood at 1.39 per cent against 1.32 per cent in March and 1.86 per cent in the year-ago quarter. Credit cost stood at 0.97 per cent for the quarter against 1.07 per cent in March and 0.82 per cent in the same quarter last year.
UCO Bank said its advances grew 25.07 per cent YoY to Rs 1,64,278 crore. Deposit for the quarter grew 10.81 per cent YoY to Rs 2,49,694 crore.