Strong Q4 numbers generate interest in UCO Bank

UCO Bank rose 2.13% to Rs 107.90 at 9:24 IST on BSE after net profit galloped 474.45% to Rs 284.70 crore on 17.27% growth in total income to Rs 5309.27 crore in Q4 March 2014 over Q4 March 2013.

The Q4 result was announced after market hours on Wednesday, 21 May 2014.

Meanwhile, the S&P BSE Sensex was up 50.93 points or 0.21% at 24,348.95.

On BSE, so far 2.95 lakh shares were traded in the counter as against average daily volume of 15.92 lakh shares in the past two weeks.

The stock hit a high of Rs 109.70 and a low of Rs 107.50 so far during the day.

The bank's ratio of gross non-performing assets (NPAs) to gross advances stood at 4.32% as on 31 March 2014 as against 5.2% as on 31 December 2013 and 5.42% as on 31 March 2013. The ratio of net NPAs to net advances stood at 2.38% as on 31 March 2014 as against 3.06% as on 31 December 2013 and 3.17% as on 31 March 2013.

UCO Bank's provisions and contingencies declined 7.37% to Rs 904.64 crore in Q4 March 2014 over Q4 March 2013.

The bank's Capital Adequacy Ratio (CAR) as per Basel III norms stood at 12.68% as on 31 March 2014 as against 11.16% as on 31 December 2013.

UCO Bank's net profit surged 144.34% to Rs 1510.54 crore on 10.43% growth in total income to Rs 19550.42 crore in the year ended 31 March 2014 (FY 2014) over the year ended 31 March 2013 (FY 2013).

The Government of India holds 77.2% stake in UCO Bank (as per the shareholding pattern as on 31 March 2014).

Powered by Capital Market - Live News