UCO Bank Results at a Glance – quarter ended 30^th June 2023 vis-à-vis 30^th June 2022

• Total Business grew by 16.06% to Rs.413972 crore as of 30.06.2023 from Rs.356677 crore as of 30.06.2022.
• Total Deposits up by 10.81% to Rs.249694 crore as of 30.06.2023 from Rs.225328 crore as of 30.06.2022.
• Gross Advances up by 25.07% to Rs.164278 crore as of 30.06.2023 from Rs.131350 crore as of 30.06.2022.
• Credit to Deposit (CD) Ratio improved to 65.79 % as of 30.06.2023 as against 58.29% as of 30.06.2022, registering an improvement of 750 bps.
• Gross NPA improved to 4.48 % as of 30.06.2023 as against 7.42% as of 30.06.2022, registering an improvement of 294 bps.
• Net NPA improved to 1.18 % as of 30.06.2023 as against 2.49% as of 30.06.2022, registering an improvement of 131 bps.
• Provision Coverage Ratio improved to 94.88% as of 30.06.2023 against 91.96% as of 30.06.2022, registering an improvement of 292 bps.
• Net Profit up by 80.80 % to Rs.223.48 crore in Q1FY24 against Rs. 123.61 crore in Q1FY23.
• Operating Profit grew by 173.30 % to Rs.1202.35 crore in Q1FY24 as against Rs.439.94 crore for Q1FY23.

• Net Interest Income (NII) increased by 21.78 % to Rs.2008.80 crore in Q1FY24 as against Rs.1649.54 crore for Q1FY23.
• Net Interest Margin (NIM) improved to 2.86 % as of 30.06.2023 against 2.74% as of 30.06.2022, registering a growth of 12 bps.
• Return on Assets (ROA) improved to 0.28 %, registering an improvement of 11 bps from 30.06.2022.
• Return on Equity improved to 7.04%, registering an improvement of 260bps from 30.06.2022.
• CRAR improved to 16.85% of which Tier I is 14.16%, registering an improvement of 272 bps from 30.06.2022.

Profitability

• Net Profit up by 80.80 % to Rs.223.48 crore in Q1FY24 against Rs.123.61 crore in Q1FY23.
• Operating Profit has shown a growth of 173.30 % on a Y-o-Y basis to Rs.1202.35 crore for Q1FY24 as against Rs.439.94 crore for Q1FY23.
• Net Interest Income (NII) grew by 21.78% on a Y-o-Y basis to Rs.2008.80 crore in Q1FY24 as against Rs.1649.54 crore for Q1FY23.
• Total Income for Q4FY23 improved by 54.27% from Rs. 3796.59 crore in Q1FY23 to Rs.5856.95 crore in Q1FY24.
• Return on Assets (ROA) improved to 0.28 % for Q1FY24 as against 0.17% for Q1FY23.
• Return on Equity (ROE) also improved to 7.04 % for Q1FY24 as against 4.44% for Q1FY23.

Business Highlights

• Total Business grew by 16.06 % on a Y-o-Y basis to Rs.413972 crore as of 30.06.2023 as against Rs.356677 crore as of 30.06.2022.

• Total Deposits are up by 10.81 % on a Y-o-Y basis to Rs. 249694 crore as of 30.06.2023 as against Rs.225328 crore as of 30.06.2022.