UCO bank will come out of the crisis by the first quarter of 2020 : A K Goel

February 7, 2020February 7, 2020 takmaa

Ambar Bhattacharya, abptakmaa, Kolkata, 7th Feb 2020 : Uco Bank held a press conference announcing the financial results of the quarter, nine months ended 31st December 2019 where Ajay Vyas, A K Goel and Charan Singh and other officials were present in front of the journalists at the head office. The financial results are given below.

Financial Parameters :

Operating Profit of the Bank for the quarter ended 31.12.2019 has increased to ` 1210.52 Crore from ` 381.41 Crore for the quarter ended 31.12.2018 registering a growth of 217.38% .

Net Interest Income of the Bank for the quarter ended 31.12.2019 has increased to ` 1236.59 Crore from ` 826.60 Crore for the quarter ended 31.12.2018 registering a growth of 49.60%.

Other Income of the Bank for the quarter ended 31.12.2019 has increased to ` 743.47 Crore from ` 248.24 Crore for the quarter ended 31.12.2018 registering a growth of 199.50 %.

Net Loss for the quarter ended 31.12.2019 has reduced to ` 960.17 Crore from ` 998.74 Crore for the quarter ended 31.12.2018.

Total Business of the Bank has increased to ` 302241.63 Crore as on 31.12.2019 from ` 291515.62 Crore as on 31.12.2018 registering a growth of 3.68%.

Total Deposits of the Bank has increased to ` 188436.99 Crore as on 31.12.2019 from ` 177905.44 Crore as on 31.12.2018 registering a growth of 5.92%.

Savings Deposits of the Bank has increased to ` 61221.49 Crore as on 31.12.2019 from ` 56886.70 Crore as on 31.12.2018 registering a growth of 7.62 %.

Current Deposits of the bank has increased to ` 14455.05 Crore 31.12.2019 from ` 9322.02 Crore as on 31.12.2018 registering a growth of 55.06%.

CASA of the Bank has increased to 40.16 % as on 31.12.2019 from 37.22 % as on 31.12.2018.

Gross NPA of the Bank has reduced to ` 22139.65 Crore (19.45%) as on 31.12.2019 from ` 31121.79 Crore (27.39%) as on 31.12.2018 and from ` 25665.14 Crore (21.87%) as on 30.09.2019.

Net NPA of the Bank has reduced to ` 6199.65 Crore (6.34%) as on 31.12.2019 from ` 11755.61 Crore (12.48%) as on 31.12.2018 and from ` 7238.33 Crore (7.32%) as on 30.09.2019.

Provision Coverage Ratio of the Bank has increased to 83.71% as on 31.12.2019 from 69.49% as on 31.12.2018 and from 81.19% as on 30.09.2019.

Capital Adequacy Ratio of the Bank stood at 10.27 % and CET-I Ratio at 7.21 % as on 31.12.2019.
Bank has also taken initiatives for reduction of RWA and reduced its RWA to ` 98982 Crore as on 31.12.2019 from ` 100699 Crore as on 30.09.2019 and from ` 99957 Crore as on 31.12.2018.