UCO Bank (UCOBANK)

UCO Bank Reports Strong Q1 Results - 23 Jul, 2024

UCO Bank's Q1FY25 net profit rises 147% YoY to Rs 551 crore, with NIM increasing to 3.09%. The bank aims to grow its loan book by 12-14% and deposits by 8-10%.

UCO Bank Reports Strong Q1 Results - 22 Jul, 2024

State-owned UCO Bank reported a net profit of Rs 551 crore in Q1FY25, up 147% YoY, with gross NPA ratio falling to 3.32%. Total deposits grew by 7.39%, while advances increased by 17.64% YoY.

PNB and UCO Bank Submit Dividend Cheques to Finance Minister - 19 Jul, 2024

UCO Bank submitted a dividend cheque of Rs 319.33 crore for FY 2023-24, presented by CEO Ashwani Kumar to Finance Minister Nirmala Sitharaman.

IOB and UCO Bank to Raise Funds via QIP Route - 18 Jul, 2024

Indian Overseas Bank (IOB) and UCO Bank are planning to raise funds through the qualified institutional placement (QIP) route next month, while Punjab & Sind Bank is likely to follow suit later in the current financial year. This move will help them meet the public shareholding norm of 25%.

UCO Bank Revises Benchmark Rates - 11 Jul, 2024

UCO Bank has revised its benchmark rates, including MCLR and TBLR. The new rates will be effective from July 11, 2024, with the overnight rate at 6.85%, six-month rate at 6.95%, and 12-month rate at 7.00%. The bank's repo-linked rate is set at 9.30%, while the base rate stands at 9.60% and BPLR at 14.25%.

UCO Bank Stock Volume Rises Over Two-Week Average - 09 Jul, 2024

UCO Bank's stock volume saw a significant increase of 2.39 times over the two-week average daily volume, with a 5.10% rise in stock price to reach Rs.56.88.

UCO Bank Reports Strong Growth in Advances and Deposits - 05 Jul, 2024

UCO Bank reported a significant increase of 17.78% YoY in total advances to Rs 1.94 trillion and 7.4% YoY in total deposits at Rs 2.68 trillion for Q1 FY25. The bank also saw an improvement in its CASA ratio from 38.10% to 38.62%.

UCO Bank Reports Strong Growth in Q1 Business Update - 04 Jul, 2024

Public sector lender UCO Bank reported robust growth in its Q1 business update, with total business rising by 11.51% YoY to reach ₹4.62 lakh crore, compared to ₹4.14 lakh crore in the same period last year. The bank's total advances showed an increase of 17.78%, amounting to ₹1.94 lakh crore against ₹1.64 lakh crore over the year-ago period.

UCO Bank Denies Merger Reports - 01 Jul, 2024

UCO Bank has denied reports of a merger with three other public sector banks. The bank stated that all decisions relating to mergers are under the purview of the government, which owns 95.39% stake. BSE and NSE had sought clarification from the bank regarding the merger news.

PSU Bank Stocks Surge in 2024 - 26 Jun, 2024

Shares of Indian Overseas Bank, Bank of Maharashtra, UCO Bank, and Punjab & Sind Bank have gained between 40-50% so far this year. The government holds a 95.39% stake in UCO Bank.

UCO Bank Plans to Reduce Government Stake - 25 Jun, 2024

UCO Bank is among five state-owned banks planning qualified institutional placements in H2 FY25 to reduce the government's stake to 75% as mandated by the market regulator.