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UCO Bank posts Q4 net loss at Rs 1,552 cr; yearly loss at Rs 4,321 cr

Provisions for NPAs stood at Rs 2,602 crore, against Rs 3134 crore in the same period of FY18

UCO Bank
In the last quarter, government infused about Rs 3,330 crore in the bank

UCO Bank posted a net loss of about Rs 1,552 crore for the Q4 of FY19, compared to a net loss of Rs 2,134 crore in the same period of the previous financial year. The bank had posted a net loss of Rs 999 crore in Q3 of FY19.  For FY19, the bank posted a net loss of about Rs 4,321 crore, against a net loss of Rs 4,436 crore in FY18.  The bank expects to come out of PCA framework by Q4 of this fiscal, said A K Goel, MD and CEO of UCO Bank. The bank would focus on recovery and CASA mobilisation for the turnaround. Provisions for non-performing assets (NPAs) in the ...