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UCO Bank to ask Government for capital infusion

29 Jun 2013 Evaluate

UCO Bank, public sector lender is likely to approach the government for fresh infusion of capital in order to meet Basel-III norms. It has decided to write to the government seeking capital for the bank. The bank is planning to open new branches at South East Asia.

For the year ended March 31, 2013, the bank’s net profit fell by 44.24% at Rs 618.19 crore as compared to Rs 1108.67 crore for the year ended March 31, 2012. However, its total income has increased by 13.50% to Rs 17703.88 crore for the year under the review from Rs 15597.92 crore for the previous year.

Peers
Company Name CMP
State Bank Of India 958.10
PNB 116.80
Bank Of Baroda 236.00
Canara Bank 119.50
Union Bank Of India 172.30
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