Credit rating agency, CARE has reaffirmed AA rating to UCO Bank’s Tier II Bonds (Series IV to Series VII & Series IX) worth Rs 1,325 crore. The rating agency has also reaffirmed AA- rating to the bank’s Upper Tier II Bonds (Series I & III) worth Rs 620 crore, Perpetual Debt (Series I) worth Rs 150 crore.
The bank has received the said rating on the back of its long standing track record, pan-India presence with wide & expanding branch & ATM network, moderate growth in advances, stable investment profile, satisfactory Capital Adequacy Ratio (CAR), comfortable ALM & interest rate sensitivity profile and moderate financial position.
The bank has registered a fall of 55.06% in its net profit at Rs 103.71 crore as compared to Rs 230.75 crore in the corresponding month previous year. However, total income of the bank has also increased by 18.17% to Rs 4408.55 crore for the quarter under review as compared to Rs 3730.79 crore in the same month last year.
Gross non-performing assets (NPAs) rose to 4.88% in the quarter under review as against 3.64% in the same quarter previous year while net NPAs too rose to 2.94% from 2.11%.
Company Name | CMP |
---|---|
SBI | 905.80 |
Canara Bank | 128.05 |
Bank Of Baroda | 296.65 |
PNB | 137.00 |
Union Bank Of India | 170.00 |
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