UCO Bank, Kolkata-based public sector lender, has restricted lending to power, road and real estate sectors and decided to go for selective lending to sectors like iron and steel and textiles to reduce the risk. The bank is also adopting counteractive actions to improve its skewed loan book which has more exposure to large corporates.
During the fourth quarter of last fiscal bank has restructured almost 25% of the total loans extended to state power distribution companies (discoms) amounting to Rs 5,000 crore. The total restructured assets grew to Rs 7,370 crore during the year, from Rs 6,345 crore last year.
UCO Bank has registered 11.92% growth in its net profit to Rs 252.84 crore during the quarter ended March 31, 2012, from Rs 225.90 crore in the same period last year. The total income of the Kolkata-headquartered bank during the fourth quarter under review has increased by 25.47% to Rs 4216.63 crore from Rs 3360.55 crore during the same quarter previous fiscal.
Company Name | CMP |
---|---|
SBI | 906.25 |
Canara Bank | 128.15 |
Bank Of Baroda | 296.10 |
PNB | 137.35 |
Union Bank Of India | 170.00 |
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