Staff Reporter –
UCO Bank has posted highest ever Annual net profit of Rs.1862.34Crore for the year FY23as against Rs.929.76Crore for Year FY22 registeringy-o-y growth of 100.30%.
v Global businesstouched Rs.4,10,967.19Crore as on 31.03.2023 as against Rs. 3,53,850.24Crore as on 31.03.2022 registering y-o-y growth of 16.14%. This is again highest ever in the history of the Bank.
v Global Deposits scaled to highest level of Rs.2,49,337.74Crore as on 31.03.2023 as against Rs. 2,24,072.90 Crore as on 31.03.2022 registering y-o-y growth of 11.28%.
v Loan Book stood at Rs.1,61,629.45Crore as on 31.03.2023 as against Rs. 1,29,777.34Crore as on 31.03.2022 registering a robust y-o-y growth of 24.54%.
v Net Interest Income (NII) for FY23 increased to Rs.7,343.13 Crore as against Rs. 6472.95 Crore for FY22registering y-o-y growth of 13.44% fuelled by healthy growth in loan book and improved yield on advances.
v Net Interest Margin (NIM) for FY23 stood at 2.87% from 2.81% for FY22 showing steady improvement.
v On Asset Quality front, Gross NPA reduced to Rs.7,726.46Crore (4.78%) as on 31.03.2023 as against Rs.10,237.43Crore (7.89%) as on 31.03.2022 and from Rs.8506.08Crore(5.63%) as on 31.12.2022.
v Net NPA reduced to Rs.2,018.02Crore (1.29%) as on 31.03.2023 from Rs.3,315.78Crore(2.70%) as on 31.03.2022 and from Rs.2,406.90Crore (1.66%) as on 31.12.2022.
v Provision Coverage Ratio increased to 94.50% as on 31.03.2023 from 91.44% as on 31.03.2022 and from 93.58% as on 31.12.2022.
v Capital Adequacy Ratioimproved to 16.51% as on 31.03.2023 from 13.74%as on 31.03.2022 and Tier-1 Ratio at 13.96% as on 31.03.2023 from 10.97% as on 31.03.2022.