UCO Bank net drops 69% on rising NPAs
Its net profit over the same quarter in the previous fiscal stood at R332.55 crore. The total income of the bank during October-December of 2012-13 fiscal rose, however, to R4,360.88 crore, from R3,973.62 crore in the third quarter of the previous fiscal, it said in a filing to the BSE.
Net non-performing assets (NPAs) or bad loans of the bank increased to 3.32% during the quarter, from 2.04% in the corresponding quarter of last fiscal. In terms of amount, the net NPAs rose to R3,927 crore, from R2,131.07 crore.
For nine-months ended December 2012, the net profit of the bank declined by 33.6 per cent at R568.64 crore from R855.83 crore in the year-ago period.
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