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UCO Bank Profit Soars 27% on Strong Core Income
15 Oct
Summary
- Net profit surged 27% to ₹786 crore in Q2 FY27.
- Gross NPA ratio hit a decade low of 1.96%.
- Advances grew significantly faster than deposits.
State-run UCO Bank reported a notable 27% year-on-year rise in net profit, achieving ₹786 crore for the quarter ending September 2026. This financial growth was primarily driven by an 11% increase in core interest income, which reached ₹7,286 crore.
Asset quality continued its upward trajectory, with the bank's gross non-performing asset (NPA) ratio dropping to 1.96%, the lowest in a decade. The net NPA ratio was reported at a low 0.18%.
On the business front, domestic advances experienced robust growth of 26%, totaling ₹2.57 lakh crore, which was faster than the 15% increase in domestic deposits. The bank anticipates full-year deposit growth between 10-12% and credit growth of 12-14%.
Key loan segments, including retail, agriculture, and MSME (RAM), demonstrated strong performance with a 27% expansion. Corporate loans also contributed positively, growing by 24%.
