UCO Bank announces Financial Results for the Quarter/ Year Ended 31st March 2022

HIGHLIGHTS OF PERFORMANCE

Financial Performance:

• Bank has made Net Profit of ₹ 18 Crore during the quarter ended March 2022 as against Net Profit of ₹ 80.02 Crore in the quarter ended March 2021 registering a growth of 290.11%.
• Bank has made Net Profit of ₹ 76 Crore during the year ended March 2022 as against Net Profit of ₹ 167.03 Crore in the quarter ended March 2021 registering a growth of 456.63%.
• Operating Profit of the Bank for the year ended March 2022 has increased to ₹ 43 Crore as against ₹ 4149.07 Crore for the year ended March 2021 registering a growth of 15.63%.
• Net Interest Income of the Bank for the quarter ended March 2022 has increased to ₹ 38 Crore from ₹ 1412.61 Crore for the quarter ended March 2021 registering a growth of 16.97%.

• Net Interest Income of the Bank for the year ended March 2022 has increased to ₹ 95 Crore from ₹ 5479.70 Crore for the year ended March 2021 registering a growth of 18.13%. This is highest Net Interest Income earned by the Bank.
• Other Income of the Bank for the quarter ended March 2022 has stood at ₹ 95 Crore as against ₹ 719.15 Crore for the quarter ended December 2021.
• Other Income of the Bank for the year ended March 2022 has stood at ₹ 81 Crore as against ₹ 3424.18 Crore for the year ended March 2021.
• Total Business of the Bank has increased to ₹ 24 Crore as on 31.03.2022 from ₹ 324324.20 Crore as on 31.03.2021 registering a growth of 9.10%.
• Total Deposits of the Bank has increased to ₹ 90 Crore as on 31.03.2022 from ₹ 205919.39 Crore as on 31.03.2021 registering a growth of 8.82%.
• CASA of the Bank (Domestic) stood at 40.26% as on 31.03.2022.
• Savings Deposits of the Bank has increased to ₹ 76 Crore as on 31.03.2022 from ₹ 70808.70 Crore as on 31.03.2022 registering a growth of 8.97%.
• Total Advances of the Bank stands at ₹ 34 Crore as on 31.03.2022 as against ₹ 118404.81 Crore as on 31.03.2021 registering a growth of 9.60%.
• Gross NPA of the Bank has reduced to ₹ 43 Crore (7.89%) as on 31.03.2022 from  ₹ 11351.97 Crore (9.59%) as on 31.03.2021. Gross NPA as on 31.12.2021 was at ₹ 10042.41 Crore (8.00%) as on 31.12.2021.
• Net NPA of the Bank has reduced to ₹ 78 Crore (2.70%) as on 31.03.2022 from ₹ 4389.50 Crore (3.94%) as on 31.03.2021 and from ₹ 3333.59 Crore (2.81%) as on 31.12.2021.
• Provision Coverage Ratio of the Bank has increased to 91.44% as on 31.03.2022 from 88.40% as on 31.03.2021 and from 91.30% as on 31.12.2021.
• Capital Adequacy Ratio of the Bank stood at 13.74% and CET-I Ratio at 10.97% as on 31.03.2022 vis-à-vis Capital Adequacy Ratio at 13.74% and CET-I Ratio at 11.14% as on 31.03.2021.

Source : Agency Inputs