 "UCO Bank posts net loss of Rs 1,715 cr for Q3FY16")
Publicc sector lender UCO Bank today posted a net loss of about Rs 1,715.16 crore for the quarter ended 31 March 2016, against a net profit of Rs 209.28 crore in the same period last year.
Sequentially, the banks net loss increased by around 15% as its net loss in the quarter ended 31 December 2015 stood at Rs 1,497 crore.
UCO Bank's gross non-performing assets touched an all-time high of 15.43% in the last quarter, against 10.98% in the quarter ended 31 December 2015, and 6.76% in the quarter ended 31 March 2015.
The net NPA of the bank also increased sharply in the last quarter as it stood at 9.09%, against 4.30% in the same period last quarter. The net NPA of the bank in the quarter ended December 2015 stood at 6.51%. For the whole year, the bank's net loss was about Rs 2,799 crore, against a net profit of Rs 1,137.80 crore for the year ended 31 March 2015.
