UCO Bank net profit up 145% at Rs 504 cr in July-September quarter

Net NPA reduced to Rs 2,700.29 crore in Q2FY23 from Rs 3,854.33 crore as on Q2FY22 and from Rs 3,103.82 crore as on Q1FY23

State-owned UCO Bank on Thursday reported a 145.64 per cent increase in net profit at Rs 504.52 crore in the July-September quarter of financial year 2022-23 (Q2FY23). The lender had posted a net profit of Rs 205.39 crore in the year-ago period.

It was one of the best quarters in the history of the bank, 

Soma Sankara Prasad, managing director (MD) and chief executive officer (CEO), UCO Bank, said. This is the highest profit ever made by the bank after 2014 June (quarter) when the bank had made a profit of Rs 515 crore, Prasad said.

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