UCO Bank saw its stock price increase by 3.35%, reaching ₹47.21 as of 9:33 AM today. The rise comes after the bank reported steady asset quality on a quarter-on-quarter (QoQ) basis, along with a 20% year-on-year (YoY) growth in Net Interest Income (NII).
Key Highlights:
- NII Growth: UCO Bank reported a robust 20% YoY increase in Net Interest Income, reflecting strong performance in its core banking operations.
- Asset Quality: The bank maintained steady asset quality compared to the previous quarter, which has reassured investors about the bank’s financial health.
Market Reaction:
Following this positive performance update, UCO Bank’s stock opened on a strong note, rising by ₹1.53 (+3.35%) to trade at ₹47.21. The combination of steady asset quality and strong NII growth has driven investor optimism, leading to an increase in the stock price.
Disclaimer: This article is for informational purposes only and should not be construed as financial advice. Please consult a financial advisor before making any investment decisions.
