UCO Bank’s net profit rises to Rs 101.81 crore for the quarter

UCO Bank’s net profit has dramatically risen by 371.42% to Rs 101.81 crores for the quarter ended June 2021, while it was Rs 21.46 crores during the quarter that ended June 2020.

The bank’s operating profit rose by 31.65% to Rs 1286.28 crore in the June 2021 quarter. It was Rs 977.08 crores for the quarter ended in June 2020. For the quarter ended June 2021, the bank’s net interest income grew by 15.27% to Rs 1460.24 crores.

It was Rs 1266.78 crore in the June 2020 quarter. This is the highest net interest income earned in the last 23 quarters. For the quarter ended June 2021, the bank’s other income rose 25.27% to Rs 969.51 crore. It was Rs 773.93 crores for the quarter ended June 2020.

The Bank’s total business grew by 7.28% to Rs. 3,32,946.17 crore as on 30.06.2021. As of 30.06.2020, it is Rs. 310355.63 crores. The total deposit of the Bank has increased to Rs. 2,12,096.82 crores as of 30.06.2021. This is an increase of 8.70% from Rs 1,95,119.60 crore as of 30.06.2020.

The Bank’s Savings Deposit has increased to Rs.71,377.97 crore as of 30.06.2021. This is an increase of 8.01% from Rs 66,086.68 crore as of 30.06.2020. The bank’s total debt increased to Rs 1,20,849.35 crore as of 30.06.2021, registering a growth of 4.87% with Rs 1,15,236.03 crore as of 30.06.2020. The Bank’s total Non-Performing Assets(NPA) declined from Rs.16,576.43 crore (14.38%) to Rs.11321.76 crores (9.37%) as on 30.06.2021.

It was Rs.11,351.97 crore (9.59%) as on 31.03.2021. The Bank’s net NPA declined to Rs.4387.25 crore (3.85%) from Rs.5138.18 crore (4.95%) as on 30.06.2020 to 30.06.2021. And as of 31.03.2021, it was Rs.4389.50 crore (3.94%).

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