UCO Bank logs net profit at Rs 35 cr in Q3, stock closes 1.55% higher

Its gross non-performing Assets declined to 9.8 per cent in December 2020 from 19.45 per cent a year ago.

Public sector lender UCO Bank posted a net profit of Rs 35.44 crore in the third quarter ended December 2020 (Q3FY21) as against net loss of Rs 960.17 crore in the quarter ended December 2019 (Q3­FY20). Its net interest income (NII) in the reporting quarter was up 13.8 per cent at Rs 1,407.15 crore from Rs 1,236.59 crore in Q3FY20. Its stock closed 1.55 per cent higher at Rs 13.08 per share on BSE.

The Kolkata-based lender which is under Reserve Bank of India’s Prompt Corrective Action (PCA) regime due high incidence of bad loans and weak profitability reported improvement in