UCO Bank posts Rs. 652.9 crore net profit

UCO Bank posts Rs. 652.9 crore net profit

UCO Bank has posted a net profit of Rs.652.97 crore for the current fiscal as against Rs.310.39 crore a year ago, registering year-on-year growth of 110.37 per cent which is the highest ever quarterly net profit in 80 years history of the bank.

The net profit for nine months ended December, 2022 rose to Rs.1,281 crore which is also the highest ever net profit for a nine-month period, it added. Net Interest Income (NII) for the current fiscal increased to Rs.1,951.87 crore as against Rs. 1,762.61 crore for the previous year, registering year-on-year growth of 10.74% fuelled by healthy growth in loan book and improved yield on advances, the release said.