Business Standard

UCO Bank net rises 12% to Rs 253 cr

Related News

recorded a 12 per cent rise in net profit at Rs 253 crore for the quarter ended March 31, against Rs 226 crore in the same period last year. “The profits would have been more but for higher provisioning for non-performing assets of Rs 379 crore during the fourth quarter, as against Rs 94 crore during same period last year,” said Chairman and Managing Director Arun Kaul. Provisioning rose on account of bad loans from sectors like aviation and iron and steel.

Read more on:   
|
|
|
|

UCO Bank net rises 12% to Rs 253 cr

UCO Bank recorded a 12 per cent rise in net profit at Rs 253 crore for the quarter ended March 31, against Rs 226 crore in the same period last year. “The profits would have been more but for higher provisioning for non-performing assets of Rs 379 crore during the fourth quarter, as against Rs 94 crore during same period last year,” said Chairman and Managing Director Arun Kaul. Provisioning rose on account of bad loans from sectors like aviation and iron and steel.

UCO Bank recorded a 12 per cent rise in net profit at Rs 253 crore for the quarter ended March 31, against Rs 226 crore in the same period last year. “The profits would have been more but for higher provisioning for non-performing assets of Rs 379 crore during the fourth quarter, as against Rs 94 crore during same period last year,” said Chairman and Managing Director Arun Kaul. Provisioning rose on account of bad loans from sectors like aviation and iron and steel.

image

Read More

Rupee touches new low at Rs 56.5 vs dollar

The rupee today tumbled by 26 paise to trade at a new low of Rs 56.50 against the US dollar in early trade on increased capital outflows and strong ...

Recommended for you

Quick Links

More news from Finance Rss icon

Canara Bank to raise funds from LIC

LIC has informed that it is willing to subscribe up to 40 million equity shares, at a price to be determined according to Sebi ICDR regulations

YatraGenie, Sundaram Finance to create 50,000 entrepreneurs

YatraGenie is an online bus ticketing and cab booking platform run by Bengaluru-based Paxterra Software Solutions

Customer wait time down to 3 minutes: SBI

Bank also focusing on encouraging customers to use technology tools

Back to Top