UCO Bank Q1 Profit Up 8%, NII 17%
UCO Bank reported an 8% year-on-year rise in net profit to ₹656 crore for the June quarter, driven by a strong uptick in net interest income and lower provisioning. Net interest income climbed about 17% year-on-year to ₹2,808 crore, underpinning the earnings growth. Asset quality improved, with gross NPA at 2.08% and net NPA at 0.25%, and provisions declined to around ₹235 crore for the quarter. The bank’s total business expanded about 15.5% year-on-year to ₹6,05,083 crore, with gross advances rising about 21% and deposits up about 11%. Management cited robust growth in priority sectors such as agriculture, retail, and MSME lending, along with ongoing digital initiatives and a broader green lending and financial literacy program. Market reaction was mixed, with the stock ending modestly lower in intraday trading as investors digested the results.
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