Page 9 - Uco Bank

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

Ready to fund stalled projects of Amrapali Group: SBICAP to Supreme Court

A bench of Justices Arun Mishra and U U Lalit was told by counsel appearing for SBICAP Ventures that it would apprise the court about its concrete proposal by next week

Punjab National Bank reduces lending rate linked to repo by 40 bps

The bank's marginal cost of funds-based lending rate (MCLR) has also been revised downwards by 15 bps across all tenors.

UCO Bank slashes lending rate by 40 basis points, MSME loans to get cheaper

The government expects banks to reduce lending rates, which is required to kick start the economy hit hard by the coronavirus-forced lockdown, among other factors

RBI slaps Rs 5 lakh fine on UCO Bank for violating govt bond holding norms

The Reserve Bank of India has imposed a penalty of Rs 5 lakh on UCO Bank for bouncing of SGL forms

UCO Bank reports Rs 960-crore loss before tax in December quarter

Gross non-performing assets as a percentage of lending stood at 19.45 per cent at the end of Q3FY20

UCO Bank Q3 net loss narrows to Rs 960 cr; ratio of bad loans remains high

The Kolkata-based bank had reported a net loss of Rs 998.74 crore during the corresponding October-December period of the previous fiscal year

UCO Bank optimistic of coming out of RBI's PCA framework in FY20

The framework is used to put lenders with high non- performing assets, weak return on assets and low capital adequacy ratio on a short leash

UCO Bank raises Rs 500 crore by issuing Basel III compliant bonds

The bank added that the board had approved the issuance of these bonds in October

UCO Bank cuts MCLR by 10 basis points across tenors, revises rate to 8.3%

The revised one-year MCLR now stands at 8.30 per cent, down from the existing 8.40 per cent, the state-run lender said in a release.

UCO Bank posts pre-tax loss of Rs 892 crore in September quarter

The UCO Bank's total income during the September 2019 quarter increased to Rs 4,533.51 crore

Amalgamating 10 govt banks into 4 entities in mega consolidation move: FM

After today's mergers, the count of government-owned banks will come down to 12 from 27 in 2017

UCO Bank net loss at Rs 601 crore; seeks capital from LIC and govt

The total provisions of the bank (other than current tax) and contingencies stood at about Rs 1,803 crore in Q1FY20