UCO Bank reports 12.42% rise in Q1 net profit

UCO Bank has reported results for the first quarter ended June 30, 2011.

The bank’s net profit has registered growth of 12.42% at Rs 292.53 crore for the quarter as compared to Rs 260.21 crore for the corresponding quarter of the previous year. Its total income has increased by 28.44% to Rs 3676.80 crore for the quarter under review from Rs 2862.73 crore for the Q1Y11.

The bank’s capital adequacy ratio for Basel-I jumped to 12.59% from 11.91% for Q1FY11 while, capital adequacy ratio for Basel-II declined to 13.51% in the quarter under review as compared to 13.61% in the same quarter previous year.