UCO Bank — Important, 21-01-2025: Updates

UCO Bank's total business reached Rs. 4,88,911 crore as of December 31, 2024, marking a year-on-year growth of 12.28%. Gross advances surged to Rs. 2,08,655 crore, up 16.44% y-o-y, while total deposits increased by 9.36% y-o-y to Rs. 2,80,256 crore. The bank reported a net profit of Rs. 639 crore for the quarter, a 27.04% rise from Rs. 503 crore the previous year, boosted by a 41.73% increase in operating profit to Rs. 1,586 crore. The Retail, Agriculture, and MSME (RAM) sectors showed robust growth, with total RAM advances climbing to Rs. 1,14,350 crore, up 22.01% y-o-y. Notably, UCO Bank reduced its gross NPA to 2.91%, a decline of 94 bps y-o-y, and net NPA improved to 0.63%. The Capital Adequacy Ratio stood at a healthy 16.25%, with a Tier I Capital Ratio of 14.17%, reinforcing a positive outlook for future growth and operational stability.