UCO Financial institution has logged a 24% year-on-year bounce in web revenue to Rs 652 crore within the fourth quarter of the monetary yr 2024-25, in accordance with an trade submitting on Monday.
Compared, the general public sector endeavor’s revenue for the year-ago interval stood at Rs 526 crore.
The lender’s web curiosity earnings rose 23% to Rs 2,698 crore, as towards Rs 2,187 crore in the identical quarter final yr.
The financial institution’s board really useful a dividend of Rs 0.39 per fairness share for the fiscal ended March 31, 2025. Nevertheless, that is topic to the shareholders’ approval on the annual common assembly.
The financial institution’s asset high quality improved, with gross non-performing belongings ratio declining to 2.69% as of March 31 from 2.91% within the previous quarter. The online NPA ratio fell to 0.5% from 0.63% on a sequential foundation.
The lender’s complete enterprise rose 14.12% year-on-year to Rs 5,13,527 crore as of March. This was on account of 17.72% development in gross advances to Rs 2,19,985 crore and an 11.56% enhance in complete deposits to Rs 2,93,542 crore.
The retail, agriculture and MSME portfolio rose 25.74% on-year to Rs 1,22,613 crore, led by a 35.09% surge in retail advances, a 20.02% rise in agriculture advances, and an 18.55% development in MSME lending.
For the complete yr ended March 31, 2025, UCO Financial institution’s consolidated web revenue stood at Rs 2,468 crore in comparison with Rs 1,671 crore within the 2023-24 fiscal.
As of March 31, UCO Financial institution had 3,302 home branches, two abroad branches (Hong Kong and Singapore), and one consultant workplace in Iran.
Authorities holding in the course of the newest quarter was diluted to 90.95% from 95.39% because of capital infusion.
Fundraise Authorized
The board has additionally authorised the lender to boost fairness capital by means of challenge of 270 crore fairness shares of face worth of Rs 10 aggregating to Rs 2,700 crore.
The financial institution might decide to boost the cash through numerous modes like certified institutional placement and follow-on public provide.
It could increase funds in a number of tranches at an acceptable time in the course of the ongoing fiscal. Nevertheless, it pressured that fund increase too is topic to the shareholders’s approval, in addition to different statutory or regulatory approvals.
Earlier than the quarterly outcomes and board nod for fundraise was introduced, shares of UCO Financial institution closed 1.68% greater at Rs 30.90 apiece on the BSE, in comparison with a 1.27% advance within the benchmark Sensex.
(With PTI inputs)
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