UCO Bank Q1 FY27 results: operating profit up 80%, asset quality improves
UCOBANK · price
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UCO Bank Q1 FY27 results: Global business at Rs 6,05,083 Cr, up 15.53% YoY. Advances grew 21.18% to Rs 2,72,768 Cr; deposits rose 11.28% to Rs 3,32,315 Cr. Operating profit jumped 79.84% to Rs 2,810 Cr helped by recovery in written-off accounts. Net profit up only 8.05% to Rs 656 Cr as tax provisions spiked to Rs 1,919 Cr from Rs 339 Cr YoY. NII rose 16.86% to Rs 2,808 Cr; global NIM at 3.05%, above 2.8 to 2.9% guidance. Gross NPA improved to 2.08% from 2.63%, net NPA to 0.25%. CRAR strong at 17.22%. Bank plans equity raise up to Rs 2,700 Cr and bonds up to Rs 5,000 Cr in FY27.
Strong operating show with improving asset quality and NIM beat; muted bottom line due to one-time tax provisioning, but capital position remains robust.