UCO Bank Q4 net profit up 86 percent at Rs 581.24 crore
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In the information sent to the stock markets, the bank has said that it has earned a net profit of Rs 1,862.34 crore in 2022-23, which is almost double from Rs 929.76 crore in 2021-22. This is the highest profit of the bank in any one financial year.
Mumbai Public sector UCO Bank’s net profit has increased by 86.2 percent to Rs 581.24 crore in the fourth quarter of the last financial year. The profit of the bank has increased due to reduction in bad loans. Prior to this, in the fourth quarter of the previous financial year 2021-22, the bank had earned a net profit of Rs 312.18 crore. In the information sent to the stock markets, the bank has said that it has earned a net profit of Rs 1,862.34 crore in 2022-23, which is almost double from Rs 929.76 crore in 2021-22. This is the highest profit of the bank in any one financial year.
The net interest income of the bank stood at Rs 7,343.13 crore during the financial year. This is also the highest interest income of the bank in a single year. The bank’s gross non-performing assets (NPAs) came down to 4.78 per cent in the fourth quarter from 7.89 per cent a year ago. Similarly, the net NPA of the bank also came down from 2.7 per cent to 1.29 per cent.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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