UCO Bank Q3 Profit Rises 16% YoY to Rs 739 Crore
State-owned UCO Bank has reported a significant boost in its net profit, rising by 16% year-on-year to Rs 739 crore for the third quarter. This marks an increase from Rs 639 crore during the same period last year, driven largely by growth in core income despite a decline in other income streams.
Key Financial Highlights
– Net Profit: Surged to Rs 739 crore from Rs 639 crore, reflecting a 16% year-on-year increase.
– Pre-Provision Operating Profit: Increased by 6% to Rs 1,680 crore, up from Rs 1,586 crore.
– Total Provisions: Slightly lower at Rs 525 crore compared to Rs 590 crore in the previous year.
– Net Interest Margin: Improved to 3.08%, up from 2.90% in the preceding quarter but down from 3.17% a year ago.
– Net Interest Income: Grew by 11% year-on-year to Rs 2,646 crore.
– Other Income: Decreased by 27% to Rs 869 crore.
– Non-Performing Assets (NPA) Ratio: Declined to 2.4% at the end of December 2025, down from 2.9% a year prior.
– Gross Advances: Increased by 17% to Rs 2.44 lakh crore, buoyed by a 26% rise in retail, agriculture, and MSME loans.
– Total Deposits: Rose nearly 11% to Rs 3.10 lakh crore, with the low-cost current and savings account deposit ratio climbing to 38.4%.
Conclusion
The impressive financial results for UCO Bank in Q3 are testament to the bank’s strong operational performance and prudent management practices. The 16% increase in net profit highlights its ability to enhance core income while effectively managing provisioning. With a healthy growth in advances and deposits, UCO Bank positions itself favorably in the competitive banking landscape, ready to capitalize on future opportunities for further growth and stability.