Money & Banking

UCO Bank posts Q1 net profit of ₹21 crore

| Updated on July 31, 2020 Published on July 31, 2020

UCO Bank has posted a net profit of ₹21 crore for the quarter ended June 30, 2020, when compared to a net loss of ₹601 crore in the same period last year. On a sequential basis, net profit is up by 23 per cent from the ₹17 crore registered in the quarter ended March 31, 2020.

The net interest income was down by 5 per cent to ₹1,267 crore during the quarter under review against ₹1,335 crore in the same period last year. Other income was up by 23 per cent to ₹774 crore (₹630 crore).

The percentage of gross non-performing assets (NPA) declined to 14.38 per cent (24.85 per cent) and the net NPAs came down to 4.95 per cent (8.98 per cent).

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Published on July 31, 2020
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