UCO Bank announces Q3FY25 results: Net profit rises 27% YoY to Rs 639 crore

Public sector lender UCO Bank announced the financial results of Q3FY25, net profit rose by 27.04 percent year-on-year (Y-o-Y) to Rs 639 crore during the third quarter (Q3FY25). However, its provisions for non-performing assets (NPAs) more than doubled Y-o-Y to Rs 263.3 crore.

Net interest income (NII)—the difference between interest earned and interest increases by 19.62 percent Y-o-Y to Rs 2,378 crore in Q3FY25, compared to Rs 1,988 crore in the same quarter the previous year. Net interest margin (NIM) improved to 3.17 percent in Q3FY25 from 2.84 percent in Q3FY24.

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Ashwani Kumar, managing director and chief executive, of UCO Bank, said in a post-results virtual media interaction that the bank is sticking to its guidance of NIMs between 3.0–3.10 percent by the end of March 2025 (FY25). The lender’s provisions for NPAs rose to Rs 263.3 crore in Q3FY25 from Rs 116.3 crore in Q3FY24, mainly due to aging provisions for old bad loans, Kumar said.

The asset quality profile improved, with gross NPAs declining to 2.91 percent in December 2024 from 3.85 percent in December 2023. Net NPAs also declined to 0.63 percent in December 2024 from 0.98 percent in December 2023.

The provision coverage ratio (PCR), including written-off accounts, stood at 96.16 percent in December 2024, up by 95 basis points over the level in December 2023.

Advances grew by 16.44 percent Y-o-Y to Rs 2.08 trillion in Q3FY25. Retail advances grew by 31.01 percent Y-o-Y to Rs 50,055 crore in December 2024. The bank’s capital adequacy stood at 16.25 percent, with Common Equity Tier-1 (CET-1) at 13.81 percent at the end of December 2024.

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