UCO Bank has reported a profit after tax of Rs 332 crore in the third quarter of FY12, a growth of 10% as compared to Rs 301 crore in a year ago quarter.
Net interest income fell 2.7% to Rs 1,033 crore versus Rs 1,062 crore year-on-year.
The bank made provisions of Rs 420 crore in the October-December quarter of FY12, falling 8% year-on-year due to improvement in asset quality.
Other income increased to Rs 235 crore from Rs 214 crore during the same period.
On quarter-on-quarter basis, gross non-performing assets (NPAs) declined at 3.49% versus 3.64% and net NPAs too dropped at 2.04% versus 2.11.
Gross NPAs stood at Rs 3,695 crore in the quarter ended December FY12 versus Rs 3,542 crore and net NPAs were at Rs 2,131 crore versus Rs 2,022 crore quarter-on-quarter.
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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