Uco Bank Q4 net loss at Rs 2,134.36 crore, gross NPA ratio at 24.64%

By: |
Kolkata | Published: May 12, 2018 3:59:23 AM

The lender’s provisions for bad assets were at Rs 3,133.52 crore at the end of March quarter last fiscal as against Rs 1,577.60 crore in the same period of previous fiscal.

Uco Bank, Uco Bank net loss, Uco Bank NPAPublic sector lender UCO Bank on Friday posted a net loss of Rs 2,134.36 crore in the quarter ended March 31, 2018 on the back of a substantial rise in provisioning for non-performing assets and a fall in total income.

Public sector lender UCO Bank on Friday posted a net loss of Rs 2,134.36 crore in the quarter ended March 31, 2018 on the back of a substantial rise in provisioning for non-performing assets and a fall in total income. The lender had posted a net loss of Rs 588.19 crore in the March quarter of previous fiscal, according to a stock exchange filing.
The bank’s total income in the quarter under review declined by about 12% year-on-year to Rs 3,424.65 crore from Rs 3906.74 crore in the year-ago period.

The lender’s provisions for bad assets were at Rs 3,133.52 crore at the end of March quarter last fiscal as against Rs 1,577.60 crore in the same period of previous fiscal. Gross non-performing assets, in absolute term, went up to Rs 30,549.92 crore as on March 31, 2018, a 36% y-o-y jump from Rs 22,540.95 crore a year ago. Gross non-performing assets as a percentage of total advances stood at 24.64% at the end of March quarter, up from 17.12% in same period last year.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Next Stories
1Department of Financial Services to approach revenue dept over GST on free services by banks
2Neither WhatsApp nor Facebook! This is the world’s most popular app on Apple iOS – Find out
3Android smartphone makers alert! Google has made this mandatory