UCO Bank net profit rises over 100 percent

Thursday, 22 January 2009, 14:58 IST
Printer Print Email Email
Kolkata: The city-based UCO Bank has posted a net profit of 1.72 billion (171.64 crore) in the quarter ended Dec 31, as against 827 million (82.78 crore) in the corresponding quarter last fiscal, reflecting an increase of over 100 percent, a top company official said here Wednesday. "The net profit in this quarter jumped by 107.35 percent. The total net profit (for the nine months April-December) of the bank in the current financial year stood at 455.17 crore (4.55 billion)," UCO Bank chairman and managing director S.K. Goel told reporters. Profit from gilts increased to 1.56 billion (156 crore) in the third quarter (October-December) of the current fiscal compared to 150 million (15 crore) in the corresponding period last fiscal, he said. The gross non-performing asset (NPA) of the bank has come down from 16.6 billion (1,660 crore) in December 2007 to 14.75 billion (1,475 crore) last month. The advance and deposit growth target of the bank for the current financial year is 22 percent and 20 percent, respectively, Goel said.
Source: IANS