UCO Bank narrows net loss to Rs 601 cr in Q1

August 08, 2019 16:49

State-owned UCO Bank on Thursday reported narrowing of its net loss to Rs 601.45 crore for the first quarter ended June 30, as bad loan provisioning declines. The bank had posted a net loss of Rs 633.88 crore in the corresponding April-June period of the previous financial year. Its total income in the June 2019 quarter rose to Rs 4,446.61 crore as against Rs 4,360.88 crore in the year-ago quarter, the bank said in a regulatory filing.

The bank's asset quality witnessed slight improvement, with the gross non-performing assets standing at 24.85 per cent of the gross advances as at the end of June 2019, as against 25.71 per cent a year ago. Net NPAs stood at 8.98 per cent, down from 12.74 per cent. -- PTI

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