UCO Bank Q4 profit jumps 23 to Rs 801 cr

New Delhi, Apr 25 (PTI) Public sector lender UCO Bank on Saturday reported a 23 per cent jump in net profit to Rs 801 crore for the fourth quarter ended March 31.
    The Kolkata-headquartered lender had earned net profit of Rs 653 crore during January-March quarter of FY25.
    However, the income during the March quarter declined to Rs 7,365 crore, from Rs 8,137 crore in the same period of the preceding fiscal, UCO Bank said in a regulatory filing.
    Interest income was at Rs 6,656 crore during the period under review against Rs 6,142 crore in the corresponding quarter a year ago.
    The bank's board has recommended a dividend of Rs 0.44 per share of Rs 10 face value out of the net profits for the year ended March 31, 2026.
    Besides, the board approved equity capital raising plan by way of issue of 270 crore equity shares of face value of Rs 10 aggregating to Rs 2,700 crore (at face value) through various modes viz, QIP, FPO, etc. in one or more tranches at an appropriate time and premium during the 2026-27 subject to approval of the shareholders at the ensuing Annual General Meeting, it said.
    In addition, it said, the board cleared proposal for raising of capital upto Rs 5000 crore through issuance of BASEL III Additional Tier I Bonds/Tier II Bonds/Long term Infra bonds, in one or more tranches, during the 2026-27.
     On the asset quality side, the bank's Gross Non-Performing Assets (NPAs) were reduced to 2.17 per cent of gross advances as of March 31, 2026, from 2.69 per cent by the end of March 2025.
     Net NPAs also came down to 0.27 per cent of the advances from 0.5 per cent at the end of 2025.
     Provision Coverage Ratio improved to 97.79 per cent as on March 31, 2026.
     Capital adequacy ratio of the bank increased to 18.61 per cent from 18.49 per cent in the same quarter of FY'25.

(This story has not been edited by THE WEEK and is auto-generated from PTI)