UCO Bank reports net loss of Rs 1497.01 crore in Q3

UCO Bank has reported results for third quarter ended December 31, 2015.

The bank has reported a net loss of Rs 1497.01 crore for the quarter ended December 31, 2015 as compared to net profit of Rs 303.59 crore for the same quarter in the previous year. Total income of the bank has decreased by 9.41% to Rs 4934.63 crore for the quarter under review from Rs 5447.39 crore for the corresponding quarter of the previous year.

Gross non-performing assets (NPAs) increased to 10.98% in the October- December quarter as against 6.50% in the same quarter previous year, while net NPAs stood at 6.51%