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UCO Bank targets 20-22% growth in deposits and advances in FY15

22 Apr 2014 Evaluate

UCO bank, a public sector lender is targeting 20-22% growth in its deposits and advances for the financial year 2014-15. The bank's advances were at Rs 141,457 crore at the end of December, 2013, up 16.5% from a year earlier. Total deposits were up by 13.4% from a year ago at Rs 192,406 crore at the end of December, 2013.

The bank halved its loan loss provisions from a year earlier to Rs 204 crore in October-December quarter as asset quality improved. Gross non-performing asset (NPA) ratio declined by 33 basis points from a year ago to 5.20%, while net bad loan ratio fell by 26 basis points on a year-on-year basis to 3.06% at the end of the quarter.

Uco Bank has reported over three fold jump in its net profit at Rs 314.53 crore for the quarter as compared to Rs 102.47 crore for the same quarter in the previous year. Total income of the bank has increased by 12.80% at Rs 4919.04 crore for quarter under review as compared to Rs 4360.88 crore for the quarter ended December 31, 2012.

UCO Bank Share Price

26.76 0.21 (0.79%)
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Company Name CMP
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Bank Of Baroda 280.00
Union Bank Of India 188.90
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