UCO financial institution pronounces 27% improve in internet revenue for Q3

NEW DELHI: State-run UCO Financial institution has reported a 27.1 per cent annual improve in internet revenue for the third quarter of the 2024-25 monetary yr, reaching Rs 638.83 crore, reflecting a major rise from the Rs 502.83 crore revenue recorded through the corresponding interval final yr.
The financial institution’s whole earnings grew by 15.5 per cent, amounting Rs 7,405.89 crore for the October-December quarter, in comparison with Rs 6,412.71 crore within the corresponding interval of the earlier fiscal yr. Curiosity earnings additionally confirmed strengthened progress, climbing to Rs 6,219.96 crore from Rs 5,551.89 crore final yr, fueled by greater advances and improved yields.
For the 9 months ending 31 December 2024, UCO Financial institution reported a 58.9 per cent rise in internet revenue to Rs 1,792.53 crore, in comparison with Rs 1,127.97 crore in the identical interval the earlier yr. Complete earnings throughout this nine-month interval elevated by 17.6 per cent to Rs 21,33,674 crore, up from Rs 18,13,526 crore a yr in the past.
The financial institution’s asset high quality confirmed marked enchancment, with the gross non-performing asset (NPA) ratio falling to 2.91 per cent as of 31 December 2024, down from 3.78 per cent a yr earlier.
The supply protection ratio (PCR) additionally confirmed a slight rise to 96.16 per cent from 95.21 per cent in the identical interval final yr.