UCO Bank has posted impressive financial performance for the quarter ending December 31, 2024 (Q3 FY25), showcasing substantial growth in profitability and improvements in asset quality.
Key Financial Highlights (Q3 FY25):
- Net Profit (PAT):
₹639 crore, up 27% from ₹503 crore in Q3 FY24. - Net Interest Income (NII):
₹2,377 crore, reflecting a 19.6% increase from ₹1,988 crore YoY. - Gross NPA:
Improved to 2.91% from 3.18% in the previous quarter (QoQ). - Net NPA:
Declined to 0.63% from 0.735% QoQ.
Other Financial Metrics:
- Total Income:
₹7,405.89 crore, a YoY increase of 15.6% from ₹6,412.71 crore. - Operating Profit:
₹1,585.69 crore, up 42.4% from ₹1,119.14 crore in Q3 FY24. - Interest Earned:
₹6,219.96 crore, reflecting a 12% YoY growth. - Other Income:
₹1,185.93 crore, marking a significant 37.8% increase compared to ₹860.82 crore in Q3 FY24. - Interest Expended:
₹3,842.28 crore, up 13.9% from ₹3,538.02 crore YoY.
Asset Quality:
- Gross NPA:
Improved to 2.91%, reflecting better credit quality and effective risk management. - Net NPA:
Declined to 0.63%, highlighting the bank’s focus on reducing stressed assets.
Operational Efficiency:
- Provisions and Contingencies:
₹589.51 crore, with ₹263.32 crore allocated for NPAs, showcasing prudent risk management. - Operating Expenses:
Stood at ₹1,977.92 crore, up 14.5% YoY, in line with business expansion.
Conclusion:
UCO Bank’s Q3 FY25 results underline its strong financial fundamentals, marked by robust growth in net profit and NII, coupled with significant improvement in asset quality. The bank’s continued focus on operational efficiency and risk management positions it well for sustained growth in the coming quarters.
TOPICS:
UCO Bank