UCO Bank has introduced a special deposit scheme called UCO 999 Fixed Deposit Scheme, with an aim to expand its customer base and mobilize low-cost core deposits. The scheme with 999 days maturity will be available for a limited period between September 10 and October 31.
On standalone basis, the bank has reported a rise of 23.90% in its net profit at Rs 362.46 crore for first quarter ended June 30, 2012, as compared to Rs 292.53 crore for the same quarter in the previous year. Total income of the bank has increased by 19.87% to Rs 4407.39 crore for the quarter under review as compared to Rs 3676.88 crore for the quarter ended June 30, 2011.
