The negatives about UCO Bank are easy to point out. While net profit was Rs 243.60 crore in FY03, all of that was on account of profit on sale of investments, which was Rs 354.61 crore.
While its net non-performing assets as at end-March were 4.36 per cent of advances, the fact remains that there was an addition of Rs 391 crore of gross NPAs during the year.
Impaired assets would be even higher if the Rs 295 crore of assets
