Indian public sector bank UCO Bank Q3FY23 profit up by 110% to Rs 653cr

By on Comments Off on Indian public sector bank UCO Bank Q3FY23 profit up by 110% to Rs 653cr

UCO Bank has registered a net profit of INR 652.97 crores for the quarter ended 31 December 2022 (Q3FY23), which is a surge of 110.4% compared to a net profit of INR 310.4 crores in the same quarter of FY22.

According to the Indian government-owned commercial bank, this is the highest-ever quarterly net profit in its 80 years history.

See also  Bank of Maharashtra Q1FY24 financial results show significant growth

UCO Bank’s net profit for nine months ended 31 December 2022 stood at INR 1,281 crores.

Indian public sector bank UCO Bank Q3FY23 profit up by 110% to Rs 653cr
Indian public sector bank UCO Bank Q3FY23 profit up by 110% to Rs 653cr. Photo courtesy of Jagseer01/Wikimedia Commons.

The Indian public sector bank stated that its Q3FY23 net interest income (NII) moved up b 10.7% to INR 1,951.87 crores, compared to INR 1,762.61 crores for Q3FY22 owing to a 20.3% year-over-year growth in loan book and the better yield on advances.

See also  Shareholders approve merger of Attica Bank and Pancretan Bank to create new banking giant in Greece

UCO Bank revealed that its loan book was at INR 1,51,059.08 crores as on 31 December 2022, compared to INR 1,25,519.13 crores as on 31 December 2021.

  , ,

Indian public sector bank UCO Bank Q3FY23 profit up by 110% to Rs 653cr added by on
View all posts by Pallavi Madhiraju →

See also  Westpac share price plunges as CEO Peter King resigns amid market uncertainty

Discover more from Business-News-Today.com

Subscribe to get the latest posts sent to your email.