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This is an archive article published on August 4, 2012

UCO Bank Q1 net profit up 24%

UCO Bank today reported 24 per cent rise in net profit at Rs 362.46 crore for the quarter ended June 2012 compared to Rs 292.53 crore in same period last year.

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UCO Bank today reported 24 per cent rise in net profit at Rs 362.46 crore for the quarter ended June 2012 compared to Rs 292.53 crore in same period last year.

Chairman and Managing Director Arun Kaul,announcing the result,said the bank has registered good demand from retail,gold loan,letter of credit and working capital.

The total income of the bank was up by 22.7 per cent to Rs 4,174 crore during the quarter against the corresponding period 2011-12.

Kaul said there was some pressure on non-performing assets due to the economic condition despite higher recovery. The fresh slippages was over Rs 800 crore during the quarter,he added.

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