Kolkata-based UCO Bank is planning to cut interest rate on deposits by 50-100 basis points across different maturities by next month. 

The bank expected about 15-20 per cent increase in net profit in the first quarter of the present fiscal, mainly driven by good treasury income, non-interest income and recovery, said S K Goel, chairman and managing director, UCO Bank, on the sidelines of Ficci Banking Conclave here on Monday.

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This apart, the bank could consider a follow on public offer in the third quarter of the fiscal to raise about Rs 600 crore, Goel said.

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