Result Highlights:
Operating Profit for Q4 jumps 33.14 % YoY
Net Profit in Q4 shoots up 470 % YoY
Net Interest Income in Q4 rises 15.87 % YoY
Total Business crosses Rs. 3.5 lakh Cr
Operating Profit for FY’14 reaches Rs.4940 cr. - rise of 47.6%
UCO Bank's profit rose more than five times to Rs.284.70 crore in the three months ended 31 March.
Net interest income, or interest earned on loans minus interest paid on deposits, rose to Rs.1,559.9.crore in the quarter from Rs.1,347.69 crore in the year-ago quarter. Net profit missed the estimate of Rs.336 crore in a Bloomberg survey of two analysts.
During the quarter, the bank reported gross non-performing assets (NPAs) equivalent to 4.32% of its loan book, compared with 5.2% in the October-December period. In the corresponding quarter of last year, gross NPAs stood at 5.42%.
The bank set aside Rs.904.64 crore for provisions and contingencies during the quarter, lower than the Rs.976.66 crore set aside in the corresponding quarter of last year.
Net NPAs stood at 2.38% during the quarter compared with 3.06% in the preceding quarter and 3.17% in the year-ago quarter.
During FY’13-14 bank opened 280 branches & 482 USBs taking total number of branches & USBs to 2894 & 1245 respectively installed 825 ATMs taking total to 2085 as on 31st Mar’14
It acquired 34.79 lakh new customers compared to 28.12 lakh last year – growth of 23.72%
Operating Profit for Q4 jumps 33.14 % YoY
Net Profit in Q4 shoots up 470 % YoY
Net Interest Income in Q4 rises 15.87 % YoY
Total Business crosses Rs. 3.5 lakh Cr
Operating Profit for FY’14 reaches Rs.4940 cr. - rise of 47.6%
UCO Bank's profit rose more than five times to Rs.284.70 crore in the three months ended 31 March.
Net interest income, or interest earned on loans minus interest paid on deposits, rose to Rs.1,559.9.crore in the quarter from Rs.1,347.69 crore in the year-ago quarter. Net profit missed the estimate of Rs.336 crore in a Bloomberg survey of two analysts.
During the quarter, the bank reported gross non-performing assets (NPAs) equivalent to 4.32% of its loan book, compared with 5.2% in the October-December period. In the corresponding quarter of last year, gross NPAs stood at 5.42%.
The bank set aside Rs.904.64 crore for provisions and contingencies during the quarter, lower than the Rs.976.66 crore set aside in the corresponding quarter of last year.
Net NPAs stood at 2.38% during the quarter compared with 3.06% in the preceding quarter and 3.17% in the year-ago quarter.
During FY’13-14 bank opened 280 branches & 482 USBs taking total number of branches & USBs to 2894 & 1245 respectively installed 825 ATMs taking total to 2085 as on 31st Mar’14
It acquired 34.79 lakh new customers compared to 28.12 lakh last year – growth of 23.72%
