Page 2 - Uco Bank

Bank of India, UCO Bank cut lending rate in line with RBI's policy

Bank of India and UCO Bank have announced 25 basis points reduction lending rate within hours of RBI's decision to slash its policy rate on Wednesday, a move which will help existing and new borrowers. Other banks are also are expected to make similar announcements soon. Both public sector banks, in separate regulatory filings, said the rate revision has been done following the RBI's reduction in the short-term lending rate (repo rate) earlier in the day. Bank of India's new Repo Based Lending Rate (RBLR) stands at 8.85 per cent compared to 9.10 per cent earlier. The new rate would be effective from Wednesday, Bank of India said in a regulatory filing. UCO Bank said it has brought down repo linked rate to 8.8 per cent, effective Thursday.

UCO Bank shares rise 3% on healthy Q4 provisional business update; details

The rise in the UCO Bank share price came on the back of a healthy Q4 provisional business update

Uco Bank share price sinks 14% today; stock falls below QIP issue price

On March 27, 2025, Uco Bank approved the allotment of 583,600,803 (583.6 million) equity shares to eligible qualified institutional buyers (QIBs) at an issue price of ₹34.27 per equity

Govt seeks advisers for minority stake sales in state-run banks, firms

The federal finance ministry is looking dilute minority shareholdings in Central Bank of India, Indian Overseas Bank, UCO Bank, and Punjab and Sind Bank

Central Bank, IOB, UCO Bank rise up to 4% in trade on Feb 25; here's why

The uptick in these stocks came after the DIPAM invited bids from merchant bankers to assist the government in its planned stake sale in public sector banks and listed financial institutions

On track to exceed NPA recoveries target of Rs 3,000 crore: Uco Bank MD

In this quarter, we have achieved recoveries to the tune of Rs 1,064 crore, contributing to over Rs 2,700 crore in recoveries across the past three quarters, said UCO Bank MD and CEO Ashwani Kumar

UCO Bank's Q3FY25 results: Net profit rises 27% on better margins

Plans Rs 2,000 crore QIP in the current quarter

UCO Bank Q3 results: PAT rises 27% to Rs 639 cr, income at Rs 7,406 cr

State-owned UCO Bank on Tuesday reported a 27 per cent increase in net profit at Rs 639 crore for the third quarter ended December 2024. The Kolkata-based lender had logged a net profit of Rs 503 crore in the same quarter a year ago. Operating profit also rose to Rs 1,586 crore as against Rs 1,119 crore in the December 2023 quarter. Total income increased to Rs 7,406 crore from Rs 6,413 crore in the same period last year, UCO Bank said in a regulatory filing. Interest income also rose to Rs 6,220 crore over Rs 5,552 crore in the same quarter a year ago. Net Interest Income (NII) during the quarter rose by 20 per cent Rs 2,378 crore as against Rs 1,988 crore for the same period of the preceding year. On the asset quality front, the bank's gross Non-Performing Assets (NPAs) declined to 2.91 per cent of gross loans by the end of December 2024 from 3.85 per cent a year ago. Similarly, net NPAs or bad loans came down to 0.63 per cent as compared to 0.98 per cent in 2023. The capital

Bank of Baroda to UCO Bank: Loan growth of banks picks up pace in Q3

Meanwhile, Yes Bank reported a marginal contraction in deposits during the October-December period (Q3FY25) over the previous quarter

RBI Policy Impact: Financials gain, PSU Bank index rises 2% on CRR cut

Uco Bank, Indian Overseas Bank, Central Bank of India, Bank of Baroda, Canara Bank and Union Bank were up in the range of 2 per cent to 2.5 per cent.

UCO Bank, Central Bank rise up to 9% in trade: here's why PSBs are surging

Among others, UCO Bank and Central Bank gained over 9 per cent and over 7 per cent respectively. Indian Overseas Bank shares were up over 6 per cent

Planning to buy a new car soon? Here are the best loan rates available

A comprehensive list of new car loan rates and charges by 18 leading banks

Public sector bank heads at BS BFSI Summit: The best is still to come

Heads of public sector banks discuss the present and future of the banking sector in conversation with consulting editor Tamal Bandyopadhyay at the Business Standard BFSI Insight Summit

Expect some clarity on MTNL resolution this quarter: UCO Bank MD & CEO

A year ago, our CD ratio was 67.25 per cent, and it has now reached 71.77 per cent. This improvement is largely a result of the aforementioned credit growth

What sparked 6% jump in UCO Bank share price on October 21?

UCO Bank shares jumped after the company reported healthy Q2FY25 results. The bank's net profit jumped 50 per cent year-on-year (Y-o-Y) to Rs 602.7 cr in Q2FY25, from Rs 401.7 crore in Q2FY24

'UCO Bank recovers Rs 414 cr bad loans through NCLT mechanism in Q2FY24'

UCO Bank has recovered Rs 414 crore from 26 accounts through the NCLT mechanism during the second quarter of the current fiscal, an official said on Sunday. Of the recovered amount, Rs 393 crore came from 14 accounts resolved, and Rs 21 crore from 12 under liquidation, he said. "During the July-September quarter, Rs 414 crore was recovered from resolution and liquidation combined. Recovery through the resolution process during the period was Rs 393 crore, significantly higher than the year-ago figure of Rs 82 crore and the June quarter's Rs 34 crore," a senior bank official told PTI. Recovery under the National Asset Reconstruction Company Ltd (NARCL) -- the government-backed bad bank -- during the quarter was negligible, with only one account worth Rs 4 crore resolved, he said. As of September 30, 2024, UCO Bank had exposure to 238 accounts, referred to the Insolvency and Bankruptcy Code (IBC) process, totalling Rs 18,163 crore, the official said. By the end of September 2024, th

UCO Bank Q2 results: PAT up 50% at Rs 603 cr on boost in interest income

State-owned UCO Bank on Saturday posted a 50 per cent jump in net profit to Rs 603 crore in the September quarter, helped by improvement in interest income. The lender had recorded a net profit of Rs 402 crore in the same quarter a year ago. Total income increased to Rs 7,071 crore during the quarter under review from Rs 5,866 crore in the same period last year, UCO Bank said in a regulatory filing. The bank earned an interest income of Rs 6,078 crore during the quarter compared to Rs 5,219 crore in the same period a year ago. Net interest income improved to Rs 2,301 crore, from Rs 1,917 crore in the year-ago period, registering a 20 per cent growth. At the same time, Net interest margin rose to 3.10 per cent from 2.84 per cent at the end of the second quarter of the previous financial year. Commenting on quarterly numbers, UCO Bank Managing Director and CEO Ashwani Kumar said the bank expects to continue the momentum. Return on asset has improved to 0.73 per cent at the end of

RBI imposes penalty of Rs 2.68 cr on UCO Bank violation of provisions

Reserve Bank of India on Friday said it has imposed a penalty of Rs 2.68 crore on UCO Bank for contravention of certain provisions, including on opening of current accounts, interest rate on deposits and frauds classification. The RBI has also imposed a penalty of Rs 2.1 lakh on Cent Bank Home Finance Ltd for non-compliance with certain provisions of Know Your Customer (KYC) directions. In both cases, the central bank said penalties are based on regulatory compliance and are not intended to pronounce upon the validity of any transaction or agreement entered into by the entities with their customers.

SBI raises MCLR by 10 basis points for all tenors; 3rd hike in 3 months

The latest increase in MCLR by SBI comes days after the RBI left the repo rate unchanged at 6.5 per cent

11 public banks charge Rs 2,331 cr for non-maintenance of minimum balance

For the recovery of this charge from account holders, public sector banks have formulated slab structures based on different geographies and segments