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Today Date : Tuesday, July 16, 2024

UCO Bank Net Profit rises to Rs.123 Crore

UCO Bank Net Profit rises to Rs.123 Crore

The net profit of the public-sector bank, UCO, rises by 22% to Rs 123.61 crore in the first quarter. 
The bank in a statement said, “The new profit of the bank has increased by 22% due to the fall in the Non-Performing Assets (NPA). The bank had earned a profit of Rs 101.81 crore during the first quarter of 2021-22 financial year.”

However, the revenue of the bank has decreased from Rs 4,539.08 crore to Rs 3,796.59 and interest income has increased from Rs 3,569.57 crore to Rs 3851.07 crore, the statement added. 

The gross NPA ratio for the first quarter of this financial year fell to 7.42% from 9.37%. 
The net NPA ratio fell from 3.85% to 2.4%, the statement said, adding that the amount estimated for the NPA has come down from Rs 1,127.11 crore to Rs 246.83 crore.