UCO Bank added 1.17% to Rs 54.51 after the bank reported 17.78% rise in total advances to Rs 1.94 lakh crore as on 30 June 2024 as against Rs 1.64 lakh crore recorded as on 30 June 2023.
On quarter on quarter (QoQ) basis, the total advances grew by 3.74% in Q1 FY25 from Rs 1.87 lakh crore as on 31 March 2024.
During the quarter, total business stood at Rs 4.62 lakh crore (up 11.51% YoY and up 2.67% QoQ) while total deposit was at Rs 2.68 lakh crore (up 7.39% YoY and up 1.90% QoQ).
Domestic advances jumped 19.33% to Rs 1.67 lakh crore as on 30 June 2024 from Rs 1.40 lakh crore as on 30 June 2023 and 3.08% rise from Rs 1.62 lakh crore as on 31 March 2023.
Domestic deposit was at Rs 2.55 lakh crore as on 30 June 2024, registering a growth of 5.87% YoY and 1.99% QoQ.
Domestic CASA deposit came in at Rs 0.98 lakh crore during the period, registering a growth of 6.56% YoY while on QoQ basis it remained constant as compared to 31 March 2023 .
Domestic CASA ratio stood at 38.62% as on 30 June 2024 as compared to 38.10% as of 30 June 2023 and 39.25% as on 31 March 2024.
Credit-Deposit (CD) ratio improved to 72.15% as on 30 June 2024 as against 65.79% as of 30 June 2023 and 71.02% as on 31 March 2024.
UCO Bank is engaged in providing wide range of banking and financial services including retail banking, corporate banking and treasury operations.
The private lenders standalone net profit declined 9.54% to Rs 525.77 crore in Q4 FY24 as compared to Rs 581.24 crore reported in Q4 FY23. However, total income grew 17.45% to Rs 6,984.61 crore in the quarter ended 31 March 2024.
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