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Performance Highlights for the FY'11 ended March 2011

PRESS RELEASE

Global business crosses Rs.2.71 lac crore
Net Profit for FY2011-12 surges 22.3% YoY to reach Rs.1109 crore

 

UCO Bank's Performance Highlights

 

·         Global Business of the Bank registered a YoY growth of 10.44% during the FY’12 to reach Rs. 2, 71,508 crore as on 31.03.2012 (Rs. 2, 45,839 crore as on 31.03.2011).

·         The total deposit of the bank rose by 6.01% YoY to reach Rs. 1, 54,003 crore as on 31.03.2012 (Rs. 1,45,278 crore as on 31.03.2011).

·         The advances of the bank rose sharply by 16.85% to reach Rs. 1,17,504 crores on 31.03.2012 as against Rs. 1,00,561 crore on 31.03.2011.

PERFORMANCE : Q4 FY’12 versus Q4 FY’11

·         Operating profit of the bank during Q4 FY’12 surged 25.30% to reach Rs. 728 crores (Rs. 581 crore).

·         Net profit rose by 11.45% to reach Rs. 253 crores in Q4 FY’12  as against Rs. 227 crores in corresponding period last year.

·         Profit for the qtr  would have been more but for higher NPA provision of Rs. 379 crore in Q4FY’12 against Rs.94 crore in Q4FY’11 and 28% increase in employee benefit during Q4 FY’12 to Rs. 169 crore (Rs. 132 crore).

·         Net Interest Income rose sharply by 24.40% (QoQ) to Rs. 1050 crores in Q4 FY’12 against Rs. 844 crores in the same period previous  year.

·         During the quarter Net Interest Margin(annualized) reached 2.71% (2.35%).

·         Average Cost of deposit (annualized) during Q4 FY’12 stood at 7.47% against 6.34% in Q4 FY11, i.e. an increase by 113 bps.

·         Average Yield on Advances during Q4 FY’12 was 11.30% against 9.86% in Q4 FY11. i.e. an increase by 144 bps.

 

PERFORMANCE : FY’12 versus  FY’11

·         Operating profit of the bank during FY’12 rose by 4.32% YoY to reach     Rs. 2,811 crores (Rs. 2,695 crore).

·         Net profit rose sharply by 22.30% to reach Rs. 1,109 crores in FY’12 as against  Rs. 907 crores in FY11.

·         Net Interest Income moved up by 1.49% to Rs. 3902 crores in FY’12 against Rs. 3,845 crores in FY’11.

·         The Cost to Income ratio came down to 42.24% during the current financial year from 43.51% last year.

·         Average Cost of deposit for FY’12 stood at 7.30% against 5.74% in FY11.

·         Average Yield on Advances during FY’12 was 11.28% against 10.00% in FY11.

·         Our CASA deposit rose 7% YoY to reach Rs. 33,867 crores as on 31.03.2012 (Rs. 31,652 crores). The share of CASA percentage against domestic deposit stood at 23.85% in March’12 against 23.20% in March’11.

·         Credit Deposit Ratio stood at 76.30 % as on Mar’12 against 69.22% as on Mar’11.

·         Global Net Interest Margin (annualized) was 2.77% during FY’12. The domestic  NIM stood at 2.95%.

·         GNPA ratio stood at 3.48 % on 31.03.12 against 3.13% on 31.03.11. However GNPA stood at 3.50% as on June’11, 3.64% as on Sept’11 and 3.49% as on Dec’11. Thus, after reaching 3.64% in Sep’11, it has now come down to 3.48%.

·         NNPA ratio stood at 1.96% on 31.03.12 against 1.84% on 31.03.11. However NNPA stood at 2.15% as on June’11, 2.11% as on Sept’11 and 2.04% as on Dec’11. Thus, after reaching 2.15% in Jun’11, it has now come down to 1.96%.

·         Book value of share (annualized) has reached Rs.94.72 on 31.3.12 from Rs. 83.16 as on 31.03.11 registering YoY growth of 13.90%.

·         Earning per share (annualized) improved to Rs. 15.02 on 31.03.12. from Rs. 14.29 on 31.3.11 registering YoY growth of 5.11%.

·         CAR of the bank was comfortable at 12.35 % under BASEL-II (Tier-I Capital: 8.09%; Tier-II Capital: 4.26%).

·         Other income rose by 4.43 % to reach Rs. 966 crore for the FY’12 against Rs. 925 crore in FY’11. Profit on sale of investments during FY’12 at Rs. 196 crore improved by 115% over last year which was Rs. 91 crore.

 

MAJOR INITIATIVES

Technology Initiatives

·         Online payment of Custom Duty has been implemented for e-Banking users.

·         Facility of PPF deposits at any authorized branch anywhere in India implemented.

·         All RRB Branches are on CBS platform and NEFT/RTGS enabled.

·         Central Electronic Registry of Securitisation Asset Reconstruction and Security Interest (CERSAI)  facility made available to branches.

Financial Inclusion  Initiatives

·         1.20 lacs accounts opened through ICT based FI project & 45,000 Smart Cards issued so far to beneficiaries.

·          Opened 62 Ultra Small branches with CBS connectivity.

Business Development Initiatives

Major Process Changes:

·         130 Branches opened in Q4FY’12 taking total branches opened in FY’12 to  188.

·         Opened 13 new Retail Loan Hubs taking the total RLHs to 39.

·         Opened 4 new City Back Offices during FY 2011-12 taking total CBOs  to 76 that cover 867 branches of the Bank

·         Opened 12 SME Loan Hubs during FY 2011-12

Organizational Changes:

·         2 new Circle Offices opened at Patna & Guwahati taking the total to 10.

·         5 new Zonal Offices opened taking the total to 40.

New Liability Products introduced:

·         UCO Vasantha Bonanza – Term Deposit for 100 days @ 9%

·         UCO Sowbhagya Scheme – A variable RD Scheme

·         UCO Suvidha Salary Account – Introduced at all Zones

New Asset Products introduced:

  • UCO Gold Loan Scheme – for financing Retail Asset Product under both Priority & Non-Priority Sectors

Customer Centric Initiatives

·         To boost Retail business, interest rates were reduced on UCO Home and Car loans.

·         Acquired 5.47 lacs CASA Customers in Q4’12 taking the total number of CASA customers acquired in FY’12 to 18.53 lacs.

·         114 ATMs installed in Q4 FY’12 taking the total for FY’12 to 256.

·         VISA Debit Cards issued in Q4 FY’12 was 1.56 lacs and during the whole FY’12  5.62 lacs.

·         Launched Personalized UCO Visa Debit Card – Gold, Platinum & Signature.

·         Permission to open ECCS Clearing Centre at Mecheda received from RBI.

·         E-payment of State Govt. taxes implemented for Maharashtra, UP and West Bengal

·         Payment of Salary of WB. Govt. employees through ECS implemented

·         Registration for New Pension Scheme obtained from Pension Fund Regulatory and Development Authority

·         2568 recovery camps organized in Q4FY12 taking total for the year to 7117.

Socio-economic Initiatives

·         8 Agri Credit Camps organized in Q4FY12 taking total such camps to 20 in the FY.

·         MOU signed with National Collateral Management Services Ltd. for financing Farmers against their Storage Receipts

·         New Scheme for Financing Arthias introduced for increasing lending under Indirect Finance to Agriculture.

HR Initiatives
During the Financial year 755 officers comprising MBAs, IT officers and  probationary officers were recruited. 866 clerks were also recruited during the financial year. 

Kolkata
05 May 2012.

 

 

 

FINANCIAL RESULTS FOR THE QUARTER ENDED SEP. 30, 2011

 

NET PROFIT FOR Q2 FY12 IMPROVES 94.12 % TO Rs 231 CRORE

INTEREST INCOME AT Rs. 3528 CRORE UP BY 28.95 % IN Q2 FY12

YIELD ON ADVANCES IMPROVES TO 11.43 % IN Q2 FY12 (9.91 % in Q2 FY11)

 

Deposits Rs. 131,312 crore as on Sep’11 ( 8.52 % Y-o-Y Growth)

Advances Rs. 97,278 crore as on Sep’11 (12.88 % Y-o-Y Growth)

 

Performance Highlights for the Quarter ended Sep 2011

 

Profit

• Net Profit of the Bank recorded a YoY growth of 94.12 % to reach Rs.231 crore

for the second quarter of 2011-12 aided by 25.83% rise in Total Income and

18.09 % decline in provisioning during the quarter.

 

Business

In view of the prevailing situation, the Bank has been concentrating on

consolidation of business, customer acquisition and CASA growth while

shedding bulk deposits. Besides, NPA management/ containment has been one

of the top priorities with special focus on recovery of dues. Against this

background

- Total business as at the end of Sep’11 amounted to Rs. 228,590 crore as

compared to Rs. 207,178 crore in Sep’10, exhibiting a growth of 10.34 % on

Y-o-Y basis

- Global Deposits of the Bank at Rs. 131,312 crore at the end of Sep’11 grew by

8.52 % (YoY) from Rs. 121,001 crore at the end of Sep’10

- CASA deposits stood at Rs.32,044 crore as on Sep’11 against Rs.28,803 crore a year ago registering a Y-o-Y growth of 11.25 % aided by 19.16% rise in Current Deposits and 9.49 % rise in Saving Deposits

- Global Advances of the Bank at Rs. 97,278 crore at the end of Sep’11 grew by 12.88 % (YoY) from Rs. 86,177 crore at the end of Sep’10

- Credit Deposit Ratio improved to 74.08 % as at Sep’11 from 71.22 % in

Sep’10.

 

 

Income

In a rising interest rate scenario cost of deposits, Net interest income & NIM were impacted adversely although Bank’s YoA improved.

• Total income during Q2 FY’12 rose by 25.83 % to Rs. 3731 crore due to healthy growth of 28.95 % in Interest Income (YoY).

• Total expenditure during Q2 FY’12 rose by 33.63 % to Rs. 3020 crore mainly due to 45.13% rise in interest paid on deposits although establishment expenses went down by 12.73%.

 

Important Ratios

• EPS (not annualized) stood at 8.34 as at Sep’11 agisnt 6.91 a year ago.

• ROA rose from 0.36 to 0.60 (QoQ) and from 0.57 to 0.67 (HoH).

• Yield on Advances stood at 11.43% in Q2 FY’12 against 9.91% in the

corresponding period last year registering 15.34 % Y-o-Y growth.

• CAR of the bank was comfortable at 13.55% under BASEL-II (Tier-I Capital: 8.59%; Tier-II Capital: 4.96%).

 

Qtr-on-qtr Sequential Performance

• Total income (Rs.3731 crore) during the current Qtr. rose 1.49% over the

previous Jun’11-Qtr. Figure.

• Net Interest Margin (2.84%) recorded a 15.45% growth over previous qtr.

(2.46% ).

• YOA(11.43%) rose 5.15% on a Qtr-on-Qtr basis

• Cost to income ratio (41.42%) declined 4.93% on a Qtr-on-Qtr basis.

 

Delivery Channels

• Bank’s branch network stands at 2231 domestic and 4 overseas branches as on 30.09.11.

• 721 ATMs facilitating around 15.78 lacs ATM/VISA Debit card holders.

• Bank has launched Interbank Mobile Payment Services (IMPS).

 

New Initiatives

• 8.67 lac new CASA accounts opened in first 6 months of the FY’12.

• 12 New Retail Loan Hubs added to existing 26 RLH.

• Bank has renewed MoU with National Small Industries Corpn. for sponsoring loan proposals under MSE sector.

• Direct Tax payment through ATMs operationalised.

 

Kolkata

Date: 31.10.2011

 

 

 

PRESS RELEASE

 

FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2011

 

INTEREST INCOME AT Rs.3401 CRORE UP BY 27.28% IN Q1 FY12

YIELD ON ADVANCES IMPROVES TO 10.87% IN Q1 FY12 (9.85% in Q1 FY11)

NET PROFIT FOR Q1 FY12 IMPROVES 12.42% TO Rs 292 CRORE

 

Deposits Rs. 127,534 crore in Q1 FY11 (7.28% Y-o-Y Growth)

Advances Rs. 96,092 crore in Q1 FY11 (17.55% Y-o-Y Growth)

 

Performance Highlights for the Quarter ended June 2011

 

Profit

• Net Profit of the Bank recorded a YoY growth of 12.42% to reach Rs.292 crore  for the first quarter of 2011-12 aided by 17.14% decline in provisioning during the quarter.

 

Business

• Total business as at the end of Jun’11 amounted to Rs.223,626 crore as compared  to Rs.200,623 crore in Jun’10, exhibiting a growth of 11.47% on Y-o-Y basis.

• CASA deposits stood at Rs.30,841 crore as on Jun’11 against Rs.27,318 crore a  year ago registering a Y-o-Y growth of 12.90% aided by 30.48% rise in Current  Deposits and 9.14% rise in Saving Deposits.

• Advances of the Bank at Rs. 96,092 crore at the end of Jun’11 grew by 17.55%  (YoY) from Rs. 81,747 crore at the end of Jun’10.

• Credit Deposit Ratio improved to 75.35% as at Jun’11 from 68.77 % in Jun’10.

 

Income

• Total income during Q1 FY’12 rose by 28.44% to Rs. 3676 crore due to healthy growth of 27.26% in Interest Income.

• Other Income in Q1 FY’12 at Rs.275 crore registered 44.74% growth over

corresponding period last year on the back of 142.86% rise in recovery from

written off a/cs and 165.63% rise in Trading profit Y-o-Y.

 

 

 

 

Important Ratios

• Gross NPA ratio stood at 3.50% as at Jun’11 whereas Net NPA ratio is 2.15 %.

• Yield on Advances stood at 10.87% in Q1 FY’12 against 9.85% in the

corresponding period last year registering 10.36% Y-o-Y growth.

• Cost of Deposit stood at 7.24% for Q1 FY’12 as against 5.44% for Q1 FY’11.

• CAR of the bank was comfortable at 13.51% under BASEL-II (Tier-I Capital: 8.52 %; Tier-II Capital: 4.99%).

 

Qtr-on-qtr Sequential Performance

• Total income during the current Qtr. rose 9.34% over the previous Mar’11-Qtr. Figure (Rs.3362 crore).

• Net Profit(Rs.292 cr.) recorded a 28.63% growth over previous qtr.(Rs.227 cr.)  aided by 15.08% decline in operating expenses and 9.89% fall in provisioning.

• YOA, ROA & NIM recorded 10.24%, 20.97% and 6.03% growth respectively on a Qtr-on-Qtr basis.

 

Delivery Channels

• Bank’s branch network stands at 2209 domestic and 4 overseas branches as      

   on 30.6.2011

• 677 ATMs facilitating around 14.41 lacs ATM/VISA Debit card holders.

• Bank has launched Biometric ATMs for the benefit of Biometric Card Holders.

 

New Initiatives

• Verified by VISA (VbV) facility has been incorporated with VISA Debit Card  from 1st Apr’2011enabling online payments through Bank’s Debit cards where VbV is acceptable.

• UCO e-Trade (online share trading) has been launched in Apr’2011.

• Bank has entered into distribution agreements with two leading Mutual Fund  companies namely Baroda Pioneer Asset Management Company and SBI Funds  Management Comapny for selling their MF products through our branches.

 

New Initiatives in the pipeline

• Interbank Mobile Payment Services (IMPS)

• UCO Prepaid Cards

• Introduction of UCO POS terminals

• Self-service banking lobby

• Online booking of Railway tickets.

 

 

Kolkata

Date: 27.07.2011

 

 

 

Performance Highlights for the FY'11 ended March 2011

Profit

  • Operating Profit for the FY11 at 2695 crore (Rs. 1706 crore)  registers 58 % growth
  • Net Profit of the Bank at Rs. 907 crore recorded a decline of 10% YoY with the Provision Coverage Ratio as on Mar’11 going up to 51.60%  from 50% as on Mar’10

Business

  • Deposits at the end of Mar’11 amounted to Rs.145278 crore as compared to Rs.122416 crore in Mar’10, exhibiting a growth of 18.68 % on YoY basis.
  • CASA deposits increased to Rs.31668 crore in Mar’11 from Rs.27322 crore in Mar’10, recording a growth of 16 %. Current Deposit increased by20%  to 7360 cr & Savings by 15% to Rs.24308 crore.
  • Advances of the Bank at Rs. 100561 crore at the end of Mar’11 grew by robust 21% % (YoY) from Rs.83371 crore at the end of Mar’10.
  • Credit Deposit Ratio improved to 69.22% as at Mar’11 from 68.10 % in Mar’10.

Income

  • Total income during FY’11 increased to Rs.12297 crore, recording a growth of 17 % on the back of 19% rise in Interest Income to Rs.11372 crore.
  • Net interest income in FY’11 at Rs.3845 crore showed YoY growth of 65%.
  • Non-Interest Income at Rs.833 crore for FY’11 (Rs.723 crore) showed a 15.21 % Y-o-Y growth).

Important Ratios

  • Gross NPA ratio stood at 3.13% as at Mar’11whereas Net NPA ratio was 1.84 %.
  • Provision Coverage Ratio as on Mar’11 stood at 51.60 % as against 50.0 % on 31.3.2010.
  • Net Interest Margin (NIM) improved to 3.07% for the FY ended Mar’11 (as against 2.19% for FY ended Mar’10).
  • Cost of Deposit stood at 5.74 % for FY’11 as against 6.44% for FY’10.
  • CAR of the bank was comfortable at 13.80% under BASEL-II (Tier-I Capital: 8.61%; Tier-II Capital:5.19%).

Delivery Channels

  • Bank’s branch network stands at 2202 domestic and 4 overseas branches as on 31.03.11.
  • 608 ATMs facilitating around 13.32 lakh card holders( from 12.10 lacs as on Dec’10).
  • Transaction based mobile phone banking launched on Bank’s foundation day on 6th. Jan’11.
  • More than 59 thousand retail customers and around 17 thousand corporate customers registered under e-banking facility.

Empowerment Initiatives

  • Launched "UCO Utthaan" scheme for raising standard of living of BPL families in select villages. Pokatunga Village in Angul District of Orissa was identified and the Bank adopted all the 319 BPL families for upgradation over a period of 3 years under the Scheme.
  • "UCO Bank on Wheels" has been a very successful endeavour towards Financial Inclusion. Presently, the Bank is having 24 such Mobile Vans taking banking at the door steps of the unreached.  

New Initiatives in the pipeline

  • Online booking of railway tickets
  • Self service customer lobby with pass book printer, transaction kiosk & bulk cash depositor

 

Kolkata
Date: 29.04.2011

 

 

 

                                 PRESS RELEASE

 

                 UCO BANK ANNOUNCES Q2 FY2010-11 RESULTS.

                 POSTS IMPRESSIVE  PERFORMANCE IN THE       FIRST HY’ FY 2010-11 

             OPERATING PROFIT OF Rs.1350 CRORE, UP BY 99.12% YOY, 

                 AND

                 NET INTEREST INCOME OF Rs.1939 CRORE UP BY 103.46 % YOY,.

                 WITH

                 NIM UP FROM 1.88% (Sept’09) to 3.36% (Sept’10).   

  

  Results at a Glance for the half -year ended September  2010 

OPERATING PROFIT  REGISTERS Y-O-Y GROWTH OF 99.12%, STOOD AT RS. 1350 CRORE.

Q2 OPERATING PROFIT ON YOY, GREW AT 91.58%, STOOD AT RS.705 CRORE.

NET INTEREST MARGIN UP BY 1.48 PERCENTAGE POINTS TO 3.36%. Q2 NIM INCREASESBY 1.52 PERCENTAGE POINTS TO 3.51%.

NET INTEREST INCOME UP BY 103.46% TO RS.1939 CRORE.  Q2 NII YOY GROWTH AT91.05%, STOOD AT RS.1003 CRORE.

GLOBAL BUSINESS RECORDS YOY GROWTH OF 20.62% AT RS, 2,07,178 CRORE.

GLOBAL DEPOSITS & ADVANCES GREW ON YOY AT 19.77% & 21.84%, STOOD AT RS.1,21,001 CRORE & RS. 86,177 CRORE.

DOMESTIC BUSINESS YOY GROWTH AT 20.16%, AND PLACED AT RS. 194431 CRORE.

DOMESTIC DEPOSITS & ADVANCES GREW AT 19.09% & 21.70% ON YOY BASIS, STOOD AT RS. 1,13,986 CRORE & RS.80,445 CRORE.

CASA GROWTH AT 25.67% WITH SAVINGS DEPOSIT GROWTH AT 27.23%.

NPA PROVISION COVERAGE RATIO AT 62%.

COST INCOME RATIO IMPROVES TO 42.75% FROM 52.61% AS OF SEPT.’09.

CAPITAL ADEQUACY RATIO AT 13.60% FROM 11.75% AS OF SEPT.’09.

 

PRESS RELEASE

Performance - Q1 2010-2011

NET PROFIT
OPER. PROFIT 

  • NET PROFIT REGISTERS A GROWTH OF 45.49% AT RS. 260 CRORE FROM RS. 179 CRORE DURING FY 2009- 10.
  • OPERATING PROFIT REGISTERS A GROWTH 108.39% AT Rs 646 CRORE FROM Rs 310 CRORE DURING FY 2009-10

GLOBAL
BUSINESS

  • GLOBAL BUSINESS RECORDS A GROWTH OF 18.85% Y-O-Y AT RS. 2,00,623 CRORE.
  • GLOBAL DEPOSITS & ADVANCES GREW AT 18.37% & 19.55% Y-O-Y STOOD AT RS. 1,18,876 CRORE AND RS 81,746 CRORE RESPECTIVELY.

DOMESTIC
BUSINESS

  • DOMESTIC BUSINESS GROWTH AT 18.23% Y-O-Y & PLACED AT RS. 1,87,604 CRORE.
  • DOMESTIC DEPOSITS & ADVANCES GREW AT 18.20% & 18.28%, Y-O-Y STOOD AT RS. 1,12,046 CRORE & RS. 75,558 CRORE RESPECTIVELY.

CASA

  • SAVINGS DEPOSIT GROWTH AT 30.92 % y-o-y. 

CRAR

  • CRAR AT 13.61% WITH T1 AT 7.55% IS VERY HEALTHY

NET NPA
& COVERAGE
RATIOS

  • NET NPA RATIO BROUGHT DOWN TO 1.14%.
  • COVERAGE RATIO STEPPED UP FROM 50.10% TO 58.04%.

KEY FINANCIAL
RATIOS

  • IMPROVEMENT EFFECTED IN KEY FINANCIAL RATIOS SUCH AS RETURN ON ASSETS (ROA), COST TO INCOME RATIO, NET INTEREST MARGIN (NIM) DURING Q1 2010-11
  • NIM IS 3.07% VIS-À-VIS 1.74%

 

TECHNOLOGY INITIATIVES

  • 100% CBS COVERAGE OF ALL 2152 BRANCHES AND 7 EXTENSION COUNTERS.
  • 500 ATMS OPERATIONAL AS OF 30TH JUNE 2010, OF WHICH 340 ON-SITE & 160 OFF-SITE.
  • 9.66 LACS VISA DEBIT CARDS ACTIVATED (0.40 LACS ADDED DURING THIS QUARTER)
  • ALL 2152 BRANCHES ARE RTGS/NEFT LIVE
  • RTGS/NEFT IMPLEMENTED THROUGH E-BANKING.

 

 

 

CORPORATE
INITIATIVES

  • ADOPTED KAJIYANA AND KHALISPUR VILLAGES IN RAI BARELI DISTRICT. THE VILLAGE ADOPTION WAS INAUGRATED BY SMT. SONIA GANDHI, UPA CHAIRPERSON.
  • THE BANK HAS ADOPTED 10 VILLAGES SO FAR UNDER UCO SAMAGRA GRAMIN VIKAS YOJNA.
  • BANK HAS DECIDED TO DEVELOP ROAD FROM RAGHUNATHGANJ TO BAGHA VILLAGE WHICH WAS ADOPTED BY UCOBANK ON 2.1.2010.
  • UCO BANK’S MOVE TOWARDS FINANCIAL INCLUSION BY LAUNCHING “UCO-MOBILE BANK” – THE CBS ENABLED BRANCH-ON-WHEELS. IN ALL 4 UCO MOBILE BANKS LAUNCHED.
  • 45 BRANCHES DESIGNATED FOR SENIOR CITIZENS ACROSS THE COUNTRY.

 

 

Performance Of UCO Bank in FY 2009-10

 

PROFIT 

GLOBAL
BUSINESS 

DOMESTIC BUSINESS

CASA

 

  • NET PROFIT REGISTERS A GROWTH OF 81.36% AT RS. 1012 CRORE DURING THE FY 2009-10 FROM RS. 558 CRORE DURING FY 2008-09.
  • GLOBAL BUSINESS RECORDS A GROWTH OF 21.13% AT RS 205787 CRORE.
  • GLOBAL DEPOSITS & ADVANCES GREW AT 22.15% & 19.67 %, STOOD AT RS. 122416 CRORE AND RS 83371 CRORE RESPECTIVELY.
  • DOMESTIC BUSINESS GROWTH AT 23.08% & PLACED AT RS. 193524 CRORE.
  • DOMESTIC DEPOSITS & ADVANCES GREW AT 24.40 & 21.16 %, STOOD AT RS. 115956 CRORE & RS 77568 CRORE RESPECTIVELY.
  • CASA GROWTH AT 24.88% WITH SAVINGS DEPOSIT GROWTH AT 26.09 %. 

GROSS AND net npa
RATIOS

  • GROSS & NET NPA RATIOS BROUGHT DOWN TO 1.99..% & 1.17% DURING FY 2009-10.

KEY FINANCIAL
RATIOS

  • IMPROVEMENT EFFECTED IN  KEY FINANCIAL RATIOS SUCH AS RETURN ON ASSETS (ROA), COST TO INCOME RATIO, NET INTEREST MARGIN (NIM) DURING 2009-10.

 

TECHNOLOGY INITIATIVES

  • 100% CBS COVERAGE OF ALL  2148  BRANCHES AND 7 EXTENSION COUNTERS.
  • 478 ATMS OPERATIONAL AS OF 31ST MARCH 2010, OF WHICH 330 ON-SITE & 148 OFF-SITE.
  • INCREASING NUMBER OF CUSTOMERS PROVIDED VISA DEBIT CARD, E-BANKING AND MOBILE BANKING FACILITIES

 

 

CORPORATE
INITIATIVES

  • UCO BANK’S MOVE TOWARDS FINANCIAL INCLUSION BY LAUNCHING “UCO-MOBILE BANK” – THE CBS ENABLED BRANCH-ON-WHEELS BY SHRI PRANAB MUKHERJEE, HON’BLE FINANCE MINISTER ON 17.04.2010 AT DEULI VILLAGE (RAGHUNATHGANJ) IN DISTT. MURSHIDABAD.
  • SEVA UTSAV CONFERRED “SEVA RATNA AWARD 2009” ON CHAIRMAN & MANAGING DIRECTOR FOR SERVICES RENDERED TO THE PEOPLE OF WB.
  • TAILOR-MADE RETAIL SCHEMES LAUNCHED BY THE BANK NAMELY: UCO DOCTOR, UCO TWO-WHEELER, UCO SHELTER (FURNISHING), UCO SHELTER (COMFORT) CATERING TO IDENTIFIED SEGMENTS OF THE MARKET.
  • ADOPTED JALANGA VILLAGE IN BHADRAK DISTRICT, ORISSA LAUNCHED BY DR.D.SUBBARAO, GOVERNOR RBI.
  • 45 BRANCHES DESIGNATED FOR SENIOR CITIZENS ACROSS THE COUNTRY.
  • 231 BRANCHES IDENTIFIED AS PERSONALIZED BRANCHES FOR SERVING CUSTOMERS IN RETAIL BUSINESS AND CASA MOBILISATION EXCLUSIVELY.
  •  
  • OPENED 67 BRANCHES TO CELEBRATE 67TH FOUNDATION DAY ON 6TH JANUARY, 2010.
  • FOUNDATION DAY OF THE BANK WAS CELEBRATED ON 6TH JAN, 2010 ACROSS THE COUNTRY BY INVITING ALL IMPORTANT CUSTOMERS.

 

PRESS RELEASE

Uco Bank registers big jump in Q3 on Y-O-Y basis in Global Net Profit at 43.22%

NET
PROFIT

 

 

 

 

 

GLOBAL
BUSINESS

 

 

 

 

 

 

 

CASA

·         NET PROFIT REGISTERS A GROWTH OF 43.22% IN Q3 AT RS. 245.82 CRORE. NET PROFIT FOR THE 9 MONTH PERIOD STOOD AT RS.632.38 CRORE.

·         GLOBAL BUSINESS RECORDS A GROWTH OF 20.71% AND PLACED AT RS. 178365 CRORE.

·         GLOBAL DEPOSITS AND ADVANCES GREW AT 19.78% & 22.03 % AND STOOD AT RS. 104059 CRORE AND RS 74306 CRORE RESPECTIVELY.

·         DOMESTIC CASA GROWTH AT 23.93% WITH SAVINGS DEPOSIT GROWTH AT 26.39%. UCO BANK AMONG THE 3 NATIONALISED BANKS TO REGISTER AN INCREASE IN MARKET SHARE OF CASA.

 

 

GROSS AND NET NPA RATIOS

 

·         NET NPA RATIO BROUGHT DOWN FROM 1.28% AS OF DECEMBER 2008 TO 0.89% AS OF DECEMBER 2009.

·         GROSS NPA RATIO STOOD AT 2.01% AS OF DECEMBER, 2009 VIS-À-VIS 2.42% AS OF DECEMBER, 2008.

 

 

NPA PROVISION COVERAGE RATIO

 

  • IMPROVEMENT EFFECTED IN NPA PROVISION COVERAGE RATIO FROM 50.10% AS OF JUNE 2009 TO 55.98 % AS OF DECEMBER, 2009

 TECHNOLOGY INITIATIVES

 


 

·         ALL METRO ZONES 100% CBS COMPLIANT. 1602 CBS BRANCHES WITH BUSINESS COVERAGE OF MORE THAN 90% .

·         433 ATMS INSTALLED.

·         INCREASING NUMBER OF CUSTOMERS PROVIDED VISA DEBIT CARD, E-BANKING AND MOBILE BANKING FACILITIES

 CORPORATE
INITIATIVES

 


 

·         SEVA UTSAV CONFERRED “SEVA RATNA AWARD 2009” ON CHAIRMAN & MANAGING DIRECTOR FOR SERVICES RENDERED TO THE PEOPLE OF WEST BENGAL.

·         ADOPTED BAGHA VILLAGE NEAR RAGHUNATHGANJ IN MURSHIDABAD DISTRICT WEST BENGAL LAUNCHED BY HON’BLE FINANCE MINISTER, SRI PRANAB MUKHERJEE

·         ADOPTED JALANGA VILLAGE IN BHADRAK DISTRICT, ORISSA LAUNCHED BY DR.D.SUBBARAO, GOVERNOR RBI.

  • 45 BRANCHES DESIGNATED FOR SENIOR CITIZENS ACROSS THE COUNTRY.

·         180 BRANCHES IDENTIFIED AS PERSONALIZED BRANCHES FOR SERVING CUSTOMERS IN RETAIL BUSINESS AND CASA MOBILISATION EXCLUSIVELY.

·         OPENED 67 BRANCHES TO CELEBRATE 67TH FOUNDATION DAY ON 6TH JANUARY, 2010.

·         FOUNDATION DAY OF THE BANK WAS CELEBRATED ON 6TH JAN, 2010 ACROSS THE COUNTRY BY INVITING ALL IMPORTANT CUSTOMERS.

 

 

PRESS RELEASE

UCO Bank’s Net Profit jumps by 34% and Operating Profit by 36% in the first quarter of the financial year 2009-10.

Highlights of Performance for the quarter ended June, 2009 on y-o-y basis

·         Operating Profit and Net Profit up by 36.10% and 34.03% at Rs.310.27 cr and Rs.178.85 cr.

·         Global Business records a growth of 26.01% to reach Rs.168808 cr.

·         Global Deposits and Advances increase by 28.37% and 22.71% reaching Rs.100428cr. and Rs.68380 cr.

·         Investments up by 37.44% at Rs.32688 cr.

·         Priority Sector advances and Total Agricultural Credit increase by 24.26% and 48.46%.

·         GNPA Ratio down from 2.82% (June,08) to 2.27% (June, 09) and NNPA Ratio down from 1.91% (June, 08) to 1.15% (June, 09).

·         CBS coverage to 1111 branches and 7 extension counters: 89% of the Bank's business through CBS branches.

·         Extension of alternate delivery channels with total number of ATMs at 425.

·         Increased popularization of Bank's Mobile Banking and e-banking facilities.

·         Launched a new Scheme for women titled, "Trade Related Entrepreneurship Assistance and Development" (TREAD) for Economic               Empowerment of women.

·         Various initiatives undertaken in Corporate Communications area to improve brand image of the Bank.

·         Corporate Social Responsibility by partnering with the Kolkata Police by sponsoring an Awareness Event aimed at controlling use of drugs with the slogan, "Say No to Drugs" on World Narcotics Day on 26th June, 2009.

PRESS RELEASE 2008

Impressive Performance by UCO BANK in the First Quarter : 08-09

In the Board Meeting held on 26th July, 2008 at Kolkata, the Balance Sheet and the Profit & Loss of the Bank for the quarter ended June, 2008 was considered and approved.

The financial results of the Bank for the first quarter of the current fiscal 2008-09 has been quite promising. The Total Business of the Bank grew by 26.18% on y-o-y basis. The deposits of the Bank increased by 24.07% and advances by 29.26%. The total business of the Bank stood at Rs.1,33,960 crore with deposits at Rs.78,235 crore and advances at Rs.55,725 crore. as at the end of June, 2008.

The Net Profit of the Bank in the first quarter was Rs.133.44 crore which is higher than corresponding quarter of previous year. The Net Profit without MAT Credit increased by Rs.43 crore, or a growth of 55% during the same period. 

The total Priority Sector Advances of the Bank increased by 19.50%   on  y-o-y basis and stood at Rs.19,997 crore.  The Agricultural Credit increased by 39.50% and stood at Rs.7,579 crore. The Bank has successfully implemented the agricultural Debt Waiver and Debt Relief Scheme – 2008.

In the area of recovery, the Bank has done commendable work. It has brought down its Gross NPA Ratio from 3.88% as of June, 2007 to 2.82% as of June, 2008. The Net NPA of the Bank has also come down from 2.54% to 1.91%. During the first quarter the Bank has recovered to the  tune of Rs.213 crore as against Rs.97 crore in the first quarter of previous year.

During the first quarter of the Current fiscal 08-09, there have been several developments which have helped the Bank to improve its performance.

904 branches brought under CBS covering 84% of the business which include 173 new branches added during the quarter.

335 ATMs installed with 26 ATMs added during the quarter.

E payment of Direct Taxes introduced.

Automated Central Processing Centre for Retail Loans christened as “Retail Loan Shoppe” equipped with Lending Automation & Processing System (LAPS) software and Rules based Approval System of Lending frame-work for Retail Loans (RBI) launched on pilot basis at Kolkata Zonal Office.

Online Request System facility for UCO Education Loan has been made available in Bank’s website.

Launched revised UCO PERSONAL CARE BIMA policy for all the customers to cover accidental death @ Rs.3 per lac of sum assured (maximum 5 lacs) as a value added service

THRUST AREAS FOR FY 2008-09 :

The Bank has targeted a total business of Rs.1,65,000 crore with a Net Profit of Rs.750 crore during the current fiscal 2008-09. The thrust areas include :

Focus on CASA growth to constitute 35% of Total Deposits.

Business growth to ensure 1% increase in Yield on Advances and 1% reduction in Cost of Deposits.

Increase of non interest income through aggressive marketing of third party and technology-based products.

Arresting slippage of fresh NPA and maximizing efforts at recovery through SARFAESI Action/Compromise/Lok Adalat.

Concerted efforts at Retail Asset growth.

Leveraging the presence of MFIs/SHGs for increased lending under Direct Agriculture.

Continuous drive for Recovery in Written Off Accounts.

 

 

UCO Bank’s Q4 net zooms by 177%

UCO Bank recorded a Net Profit of Rs.86 Crore during the 4th Quarter of the FY 2007-08, which is higher by 177.42% than what it made during the corresponding Quarter of the previous year. The Bank’s Q4 Net Profit last year stood at Rs.31 Crore. During the full year 2007-08, Operating Profit of the Bank stood at Rs.954 Crore (Rs.945 Crore in FY 2006-07), and  Net Profit at Rs.412 Crore, 30.38% higher than Rs.316 Crore made during the previous year.  

The Bank achieved a Total Business of Rs.1,35,536 Crore, which is higher by 20.66% compared to the previous year. During the beginning of the year, the Bank had committed to the Ministry of Finance a business level of Rs.1,34,765 Crore, which it has comfortably surpassed. Total Deposit of the Bank increased by 23.20% to Rs.79,909 Crore, whereas its Advances grew by 17.18% to Rs.55,627 Crore as on 31st March, 2008. Overseas Operations of the Bank were also impressive, where the Deposits grew by 18.14% and Advances by 8.83%. The Bank has also fully complied with the newly introduced minimum Asset Maintenance Requirement (AMR) at its Singapore Centre.

The Bank also for the first time brought down its Net NPA to less than 2% level. As on 31st March, 2008, Bank’s Gross NPA and Net NPA stood at 2.97% and 1.98% respectively.

The Bank has made itself Basel-II compliant during the year. As per Basel-II, the CRAR was 11.02%, and as per Basel-I, it was 10.09%. The Bank had to add approximately Rs.3300 Crore to its Risk Weighted Assets to take care of Operational Risk as per requirements under Basel-II.

Priority Sector Advances of the Bank on 31st March, 2008 stood over 47% of its advances, against the minimum stipulation of 40%. The Bank now plans to allocate 3% of its credit for the farmers to enable them to liquidate their debts owed to money lenders, for which it is soon going to introduce a scheme called “UCO Kishan Wrin Mukti Yojna”. Earlier, the Bank had introduced a scheme named “UCO Samagra Kishan Samridhi Yojna” to comprehensively take care of farmers’ needs. The Bank is also planning to enter into a strategic alliance in order to open a new outlet in Dubai to expand its operations in the Middle East Region.

 

31st March’07

31st March’08

Growth (%)

Deposit

64,860

79,909

23.20

Advances

47,471

55,627

17.18

Total Business

1,12,331

1,35,536

20.66

Net Profit

316

412

30.38

GNPA (%)

3.17

2.97

 

NNPA (%)

2.14

1.98

Place: Kolkata



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