UCO Bank reports a net loss of Rs 6.33 billion in June quarter

The GNPA increased to about Rs 298 billion in the last quarter, against Rs 250 billion in the same period last financial year

Public-sector lender UCO Bank posted a net loss of Rs 6.33 billion for the quarter ended June 2018, against a net loss of Rs 6.63 billion in the same period last financial year. In the Q4 of FY18, the bank had posted a net loss of about Rs 21 billion.

 

The bank’s provisions went up to Rs 18 billion in the last quarter, against Rs 12.7 billion in the same period of the previous financial year. The bank’s provisions for bad loans stood at about Rs 20 billion in the last quarter, against Rs 12 billion in the same period last financial year.

 

The gross non performing assets of the bank (GNPA) increased to about Rs 298 billion in the last quarter, against Rs 250 billion in the same period last financial year. In terms of percentage, the GNPA of the bank stood at 25.71 per cent in the last quarter, against 19.87 per cent in the same period of the last financial year. The net NPA of the bank stood at 12.74 per cent in the last quarter, against 10.63 per cent in the same period of the last financial year.

 

The bank has made additional provision of Rs 6.27 billion as per IBC norms for NCLT admitted borrowers account in the last quarter.