NSE: UCOBANK · BSE: 532505
UCO BANK
A Public Sector Bank under Indian government ownership (90.95% held by the President of India), UCO Bank earns revenue across four streams: Retail Banking Operations at Rs 7,740.25 cr (36.3% of segment revenue), Corporate Banking Operations at Rs 7,232.96 cr (33.9%), Treasury Operations at Rs 6,313.6 cr (29.6%), and Other Banking Operations at Rs 49.93 cr (0.2%) for the period ending 31 December 2024. As of Q1 FY27 the bank carried total business of Rs 6,05,083 cr, comprising advances of Rs 2,72,768 cr (up 21.18% YoY) and deposits of Rs 3,32,315 cr (up 11.28% YoY), with a credit-deposit ratio of 82%. The bank runs a network of 3,412 branches, 2,647 ATMs and 11,136 business correspondent units across 28 states and 8 union territories, plus 3 international locations, supported by 20,993 permanent staff. Net interest income of Rs 2,808 cr and a global NIM of 3.05% indicate lending-and-deposit spreads are the core earnings engine, supplemented by fee income and treasury gains. Asset quality has tightened sharply — gross NPA fell to 2.08%, net NPA to 0.25% with provision coverage at 97.85% in Q1 FY27. Its biggest cost line is interest paid on deposits and borrowings, while operating expenses are tracked via a cost-to-income ratio of around 50% on a normalised basis. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Retail Banking Operations (36%), Corporate Banking Operations (34%), Treasury Operations (30%), Other Banking Operations (0%). Cyclical, asset-heavy public sector banking — earnings move with credit growth, NIM and asset-quality cycles.
Exhibit 1: Financial summary, FY22–FY25 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Revenue | — | — | — | — |
| EBITDA (ex other income) | — | — | — | — |
| margin % | — | — | — | — |
| Owners' profit | 895 | 1,826 | 1,672 | 2,468 |
| EPS, as reported (₹) | 0.77 | 1.53 | 1.40 | 2.06 |
| ROE % · ROCE % | — · — | — · — | — · — | — · — |
| Debt / equity (x) | — | — | — | — |
| Cash from operations | 1,750 | 2,905 | 2,569 | 3,834 |
| Capex | — | — | — | — |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY24 | Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — | — | — |
| Profit before tax | 347 | 640 | 777 | 806 | 862 | 939 | 996 | 1,036 |
| Net profit | 223 | 402 | 503 | 526 | 551 | 603 | 639 | 652 |
| EPS (₹) | 0.19 | 0.34 | 0.42 | 0.45 | 0.45 | 0.50 | 0.54 | 0.56 |
Exhibit 3: Segment revenue, FY25
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Corporate Banking Operations | 7,233 | 33.9 |
| Other Banking Operations | 50 | 0.2 |
| Retail Banking Operations | 7,740 | 36.3 |
| Treasury operations | 2,093 | 9.8 |
| Treasury Operations | 4,220 | 19.8 |
| Total, before eliminations | 21,337 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| STATE BANK OF INDIA | 8,72,384 | 10.1 | — | — | — | — | — | — |
| UNION BANK OF INDIA | 1,40,916 | 6.8 | — | — | — | — | — | — |
| PUNJAB NATIONAL BANK | 1,39,375 | 6.3 | — | — | — | — | — | — |
| BANK OF BARODA | 1,21,121 | 6.7 | — | — | — | — | — | — |
| INDIAN BANK | 1,13,145 | 8.8 | — | — | — | — | — | — |
| CANARA BANK | 1,07,043 | 5.4 | — | — | — | — | — | — |
| BANK OF MAHARASHTRA | 61,532 | 8.2 | — | — | — | — | — | — |
| BANK OF INDIA | 60,114 | 5.1 | — | — | — | — | — | — |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 11.1 | 7.5 | 12 of 12 | 0% |
| Profit growth | 24.1 | 28.3 | 8 of 12 | 36% |
| Market cap | 28402 | 84288 | 10 of 12 | 18% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 23 Oct 2026 · Central Government replaces UCO Bank board director | management changes | medium | — | — |
| 16 Oct 2026 · UCO Bank Q2 FY27 earnings call transcript: net profit up 27% YoY | investor communications | medium | — | — |
| 15 Oct 2026 · Post Earnings Call Recording Link Shared | investor communications | low | — | — |
| 15 Oct 2026 · UCO Bank Q2 and H1 FY26 financial results press release | compliance | low | — | — |
| 15 Oct 2026 · UCO Bank Q2 FY27 Investor Presentation: Net Profit up 27% Y-o-Y at Rs 786 Cr | investor communications | medium | — | — |
| 15 Oct 2026 · UCO Bank Q2 FY27 net profit jumps 26.75% YoY to Rs 785.64 cr | results | high | — | — |
| 12 Oct 2026 · UCO Bank schedules post-earnings call with analysts on October 15 | board shareholder meetings | low | — | — |
| 12 Oct 2026 · Board meeting on Oct 15 to consider Q2/H1 FY27 financial results | results | low | — | — |
| 9 Oct 2026 · UCO Bank AA rating reaffirmed with Stable outlook by India Ratings | credit debt | medium | — | — |
| 8 Oct 2026 · UCO Bank revises benchmark rates; TBLR and repo-linked rates rise | business updates | medium | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.