 "Uco Bank, Uco, banking")
State-owned Uco Bank on Monday reported a 147 per cent year-on-year jump in net profit to Rs 551 cr in the April-June quarter.
The lender's bottomline in the corresponding period a year ago stood at Rs 223 cr.
Operating profit in the reporting quarter was Rs 1,321 cr, registering a growth of 9.81 per cent over the year-earlier period.
The Kolkata-based bank's total business grew 11.46 per cent on-year to Rs 461,408 cr, while gross advances increased 17.64 per cent to Rs 193,253 cr, it said in a statement.
Total deposits rose 7.39 per cent year-on-year to Rs 268,155 cr in the three months ended June.
Advances in retail, agriculture and MSME (RAM) sectors were up 18.65 per cent at Rs 101,986 cr, it said.
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The bank also managed to reduce its Gross NPA in April-June by 116 basis points to 3.32 per cent, while net NPA declined by 40 basis points to 0.78 per cent.
The statement said capital adequacy ratio stood at 17.09 per cent at the end of the first quarter, with Tier-I ratio of 14.75 per cent.
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