UCO Bank Q4 net profit up 290%, says will open new branches across India

The company says it seeks a loan growth of 15 per cent this fiscal and it has managed to reduce its NPA.

State-owned UCO Bank recorded a 290 per cent increase in net profit at Rs 312.18 crore in the quarter ended March 2022. It had a net profit of Rs 80.03 crore in the year-ago period.

Net interest income of the bank for the quarter increased to Rs 1,652.38 crore from Rs 1,412.61 crore for the quarter ended March 2021, registering a growth of 16.97 per cent.

The bank’s total income fell to Rs 4,362 crore in the quarter compared to Rs 4,637 crore in the same period last year. However, for the full fiscal FY22, total income stood at Rs