Kolkata, May 13 UCO Bank has registered 290 per cent growth in net profit at Rs 312 crore for the quarter ended March 31, 2022, as compared with Rs 80 crore in the same period last year.
Net interest income grew by nearly 17 per cent at Rs 1,652 crore during the quarter under review, as against Rs 1,413 crore in the same period last year.
Other income for the quarter ended March 2022 declined by around 45 per cent at Rs 589 crore, as against Rs 1,071 crore in the same period last year.
For the year ended March 31, 2022, the bank registered a 457 per cent growth in net profit at Rs 930 crore (Rs 167 crore). Operating profit increased by nearly 16 per cent at Rs 4,797 crore (Rs 4,149 crore) during the year.
Gross non-performing assets as a percentage to total advances declined to 7.89 per cent (9.59 per cent), while net NPAs came down to 2.70 per cent (3.94 per cent).
Total business grew by 9 per cent at Rs 3,53,850 crore as on March 31, 2022. Total deposits increased by 9 per cent to Rs 2,24,073 crore, while advances grew by 10 per cent at Rs 1,29,777 crore.
The provision coverage ratio has increased to 91.44 per cent as on March 31, 2022, from 88.40 per cent last year.