Page 8 - Uco Bank

UCO Bank allots 203 cr preferential shares to govt for capital infusion

UCO Bank on Friday said it has allotted over 203 crore preferential shares to the government in lieu of Rs 2,600 crore capital infusion for 2020-21. "We hereby inform that the competent authority this day allotted 203,76,17,554 equity shares of Rs 10 each to Government of India at an issue price of Rs 12.76 per share against capital contribution of Rs 2,600 crore received by the Bank on 31.03.2021," UCO Bank said in a BSE filing. On Thursday, the bank said its board has approved a proposal to raise up to Rs 3,000 crore equity capital in 2021-22 through various means including preferential issue, follow on public offer or qualified institutional placement. UCO Bank stock closed 2.81 per cent up at Rs 13.52 on BSE.

UCO Bank gets board nod for Rs 3,000-cr equity capital raise in FY22

State-owned UCO Bank on Thursday said its board has approved raising Rs 3,000 crore equity capital for the current fiscal year.

UCO Bank Mar qtr net profit jumps about five-folds to Rs 80 crore

The Kolkata-headquartered lender had posted a net profit of Rs 16.78 crore in the corresponding a year ago.

Digital banking can mask risks, say CROs at Business Standard webinar

Efforts to identify key personnel risks need to increase by many notches, given the amount of investments being made in technology, and the number of digital transactions

Stocks to watch: Muthoot Finance, RIL, UCO Bank, Prakash Industries, Airtel

Anil Agarwal-led Vedanta Resources Ltd's sweetened offer to buy back 17.5 per cent share in its Indian flagship firm was subscribed 57.5 per cent, helping it raise its stake to about 65 per cent

Govt to infuse Rs 14,500 crore in 4 banks, issue recapitalisation bonds

Special securities shall be non-interest bearing and no interest shall be payable on issue of the securities

UCO Bank logs net profit at Rs 35 cr in Q3, stock closes 1.55% higher

Its gross non-performing Assets declined to 9.8 per cent in December 2020 from 19.45 per cent a year ago.

UCO Bank reports Q3 profit at Rs 35.44 cr on low provisions for bad loans

The Kolkata-based bank had reported a net loss of Rs 960.17 crore during the October-December period of the previous fiscal year

Banks will focus on cash flow-based lending in future: UCO Bank's Ajay Vyas

Banks are likely to focus on cash flow-based lending in times to come, a top executive of UCO Bank has said

UCO Bank reports Rs 30-crore net profit in Q2, brings down bad loans

Interest income fell to Rs 3,614.61 crore during the quarter, compared with Rs 3,804.64 crore in the year-ago period.

UCO Bank yet to undertake asset quality study, cites SC order for delay

UCO Bank MD and CEO A K Goel had earlier said the lender would like to ascertain its asset quality, once the moratorium period ceases on August 31

UCO Bank reduces MCLR by 10 bps across tenors, effective August 10

The revised one-year MCLR stands at 7.40 per cent as against 7.50 per cent earlier, the bank said

After the moratorium: Banks have to face their bad loan problem, again

Indian banks will have a hard task when RBI's moratorium ends this month. Those that do not get capital will have to show their true health, writes Tamal Bandyopadhyay

After two profitable quarters, UCO Bank ready to come out of PCA framework

In May 2017, the central bank had initiated PCA against the lender due to high non-performing assets and negative return on assets

Exxon loses $1 bn in second quarter as oil use dries up amid lockdown

The Irving, Texas-based oil giant brought in $32.6 billion in revenue during the second quarter, less than half of what it brought in at the same time last year

UCO Bank Q1 net profit at Rs 21.5 crore on lower bad loan provisions

Public sector UCO Bank on Friday posted a net profit of Rs 21.46 crore in the first quarter ended June 2020 on lower bad loan provisions.

UCO Bank approves raising Rs 3,000 cr in FY21, awaits shareholders nod

In a regulatory filing, the bank said that it will now seek shareholders' approval in its annual general meeting on August 7

Union Bank of India, UCO Bank reduce MCLR by 20 bps and 10 bps

UCO Bank's revised one-year MCLR will be 7.50 per cent, down from the current 7.60 per cent.

UCO Bank eyes non-oil imports from Iran to sustain rupee-rial trade

Lender posts turnaround in Q4, awaits PCA exit

Banking to be a 'strategic sector', govt discussing privatising some PSBs

According to the new privatisation policy, announced by FM Sitharaman as part of the 'Atmanirbhar Bharat' package, the government will come up with a list of strategic sectors