Overview

• UCO Bank’s Q1 net profit rose 10% year-on-year to ₹607 crore, supported by a 7% increase in net interest income to ₹2,403 crore.
• Total income climbed to ₹7,433 crore from ₹6,859 crore a year earlier, reflecting stronger earning assets and moderated funding costs.
• Operating profit jumped to ₹1,562 crore from ₹1,321 crore, driven by controlled expenses and expanded lending.
• Asset quality improved with gross NPAs falling to 2.63% and net NPAs to 0.45%, while the provision coverage ratio rose to 96.88%.
• Despite solid fundamentals, the bank’s share price dipped nearly 1% on cautious investor sentiment.