Page 6 - Uco Bank

RBI permits banks to open 12 special vostro accounts for trade in rupees

So far, not a single overseas trade transaction directly involving the rupee has taken place

PSU Bank index soars 73% from June lows; UCO, BOI, Canara zoom up to 102%

In the past one month, the Nifty PSU Bank index has rallied 31 per cent as compared to a 2.8 per cent rise in the Nifty 50 index

HDFC Bank, Canara Bank get RBI approval for rupee trade with Russia

Three others got permission earlier, but no deal so far

Nine Russian banks open special vostro accounts for trade in rupee

Next round of India-UK FTA talks expected in Dec: Commerce secy

15 new judicial and technical members appointed for NCLT benches

The tribunal has a total sanctioned strength of 63 members and 28 benches

Q2 Impact: SBI, BoB may see another 25% upside, UCO Bank 50%, hint charts

SBI hit life-time high, while Bank of Baroda registered a new 52-week high in trades on Monday after the banks reported strong Q2 earnings over the weekend. Here's what the charts indicate ahead.

UCO Bank net profit up 145% at Rs 504 cr in July-September quarter

Net NPA reduced to Rs 2,700.29 crore in Q2FY23 from Rs 3,854.33 crore as on Q2FY22 and from Rs 3,103.82 crore as on Q1FY23

UCO Bank Q2 net rises 145% to Rs 504 crore, gross NPA declines to 6.58%

Post-tax profit of public sector UCO Bank increased 145 per cent at Rs 504.52 crore during the second quarter of the current fiscal against Rs 205.4 crore in the similar previous similar period. The Kolkata-based lender said in a regulatory filing that the operating profit of the bank during the quarter decreased to Rs 1,190 crore as compared to Rs 1,334.2 crore in the previous similar period. Domestic revenues of the bank during the second quarter stood at Rs 4,794.76 crore while international revenues stood at Rs 170.08 crore. The capital adequacy ratio of the bank at the end of the second quarter stood at 14.02 per cent, registering a marginal decline from 14.31 per cent in the corresponding previous period. The Gross NPA of the lender declined to 6.58 per cent at the end of the second quarter from 8.98 per cent, while the net NPA stood at 1.99 per cent from 3.37 per cent in the previous similar period. UCO bank restructured MSME accounts 25,255 with an outstanding amount of Rs

Rupee trade with few nations may start, internationalisation will take time

Negotiations are on with Russia, Cuba and Sudan among others to do so. Officials are hopeful that Saudi Arabia, UAE and Luxembourg would also come on board

Rupee trade with few nations may start, internationalisation will take time

Rupee trade with few nations may start, internationalisation will take time

UCO Bank, Yes Bank in talks with Russia to finalise trade mechanism: Report

Indian lenders UCO Bank and Yes Bank are in talks with their Russian counterparts over a payment mechanism for trade between the two countries

Banks offer over 3-year high interest rate to raise funds through CDs

Call mkt rates at higher end of rate corridor as liquidity shrinks rapidly

UCO Bank, used by India for Iran payments, plans rupee trade with Russia

UCO Bank will put in place operational modalities before opening the account with the Russian counterpart, Prasad said, adding that there is no clear time line on when transactions can begin

Stocks to Watch: Tata Steel, Fortis, Hero MotoCorp, Bombay Dyeing, McLeod

Stocks to Watch Today: UCO Bank became the first bank to get RBI nod for Rupee trade settlement a/c with Russia; The Central Bank warns M&M Finance against outsourcing recovery agents.

UCO Bank becomes first lender to get RBI's approval for rupee trade

Many banks in India are planning to open such special vostro accounts for settling trade transactions with other nations

We find some stress in restructured accounts, says UCO Bank MD & CEO

'Corporate demand is for both working capital and term loans'

Jammu and Kashmir to Kerala, SBI executives are at every corner office

At least three PSBs have former SBI executives as MD & CEO at present - Sanjiv Chadha of Bank of Baroda, Partha Pratim Sengupta of Indian Overseas Bank and Soma Sankara Prasad of UCO Bank.

UCO Bank net profit rises 22% to Rs 123.61 crore in June quarter

State-owned UCO Bank on Friday posted a 22 per cent rise in its net profit at Rs 123.61 crore for the first quarter ended June 30, helped by fall in bad loans. The bank had reported a net profit of Rs 101.81 crore in the same quarter of financial year 2021-22. However, the total income declined to Rs 3,796.59 crore, as against Rs 4,539.08 crore in the first quarter of the previous fiscal, UCO Bank said in a regulatory filing. "The bank has registered healthy growth in the first quarter. Going forward, we expect more traction in credit offtake in both retail and corporate (segments). We expect a credit growth of 12-13 per cent in the September quarter," UCO MD & CEO Soma Shankar Prasad said. He also said there is no capital raising plan in this fiscal as we have a Capital Adequacy Ratio (CAR) of 14.13 per cent. Interest income during the quarter under review increased to Rs 3,851.07 crore, from Rs 3,569.57 a year ago. The Kolkata-headquartered lender trimmed its gross ...

UCO Bank gets nod to raise equity capital by issuing up to 1 bn shares

The bank would raise equity capital at appropriate time in the current fiscal to support growth, according to a regulatory filing on Tuesday.

Indian PSBs plan to exit Hong Kong as strict regulations, Covid woes pinch

State Bank of India (SBI) will likely be the only PSB in Hong Kong, alongside private sector banks ICICI and HDFC