UCO Bank has posted impressive results for the third quarter of FY 2024, with notable year-on-year (YoY) growth in total business, total deposits, and advances. As per the provisional data released on January 3, 2025, the bank’s total business reached ₹4.88 lakh crore, reflecting a YoY growth of 12.18%.
The bank also reported a steady increase in total deposits, which amounted to ₹2.80 lakh crore, showing a 9.37% rise compared to the same period last year. In terms of total advances, UCO Bank’s lending portfolio grew to ₹2.08 lakh crore, marking a significant 16.20% YoY growth.
Domestic advances, a critical metric for the bank, surged by 18.83% YoY, while domestic deposits saw a moderate growth of 7.29%. The CASA (Current Account Savings Account) ratio for domestic operations was 37.96%, and the CD (Credit Deposit) ratio stood at a healthy 74.55%, indicating efficient utilization of funds.
The results are provisional and are subject to review by the Statutory Central Auditors of the bank, but they highlight UCO Bank’s continued strength in the financial sector.
