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Wednesday, November 7, 2012

UCO Bank net halves to Rs 104 cr

Dragged down by higher provisioning, UCO Bank has posted a 55 per cent drop in net profit to Rs 104 crore for the quarter ended September 30, 2012, compared with Rs 231 crore during the same period last year.

Provisioning increased 26 per cent to Rs 597 crore. Net interest income was almost flat at Rs 1,013 crore (Rs 1,010 crore), while other income increased by about five per cent to Rs 213 crore.

Shares of UCO Bank were trading at Rs 74.70, up 1.43 per cent on the BSE on Wednesday.


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