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Highlights of Financial Performance

for the quarter ended 31st December, 2022

-UCO Bank has posted net profit of Rs.652.97 Crore for the Q3FY23as against Rs.310.39 Crore for Q3FY22 registeringy-o-y growth of 110.37% which is the highest ever quarterly net profit in 80 years history of the Bank. Net profit for nine months ended December-22 rose to Rs.1,281 Crore which is also the highest ever nine months net profit.

Net Interest Income (NII) for Q3FY23 increased to Rs.1,951.87 Crore as against Rs. 1,762.61 Crore for Q3FY22registering y-o-y growth of 10.74% fuelled by healthy growth in loan book and improved yield on advances.NII for Q3FY22 includes an exceptional interest income due to recovery in the account of M/s Air India. If recovery from this account is excluded, the growth in NII shall come to 25% approximately on y-o-y basis for Q3FY23.

Net Interest Margin (NIM) for Q3FY23 stood at 2.99% from 2.84% for Q2FY23 showing steady improvement. However, NIM for Q3FY22 was 3.03% which was propelled by recovery in the account of                M/s Air India, otherwise NIM for Q3FY22 would have been at 2.69%.

Other income for Q3FY23 increased to Rs.823.46 Crore as against Rs.719.15 Crore for Q3FY22 registering y-o-y growth of 14.51% aided by robust recovery in written off accounts and commission from third party products.

Pre provisioning operating profit (PPOP) for the Q3FY23 increased to Rs. 1,353.91 Crore as against Rs. 1,340.30 Crore for Q3FY22.

Global business scaled to its highest ever mark of Rs.3,94,228.98 Crore as on 31.12.2022 as against Rs. 3,44,321.66 crore as on 31.12.2021 registeringy-o-y growth of 14.49%.

Global Depositsalso scaled to highest level of Rs.2,43,169.90 Crore as on 31.12.2022 as against Rs. 2,18,802.52 Crore as on 31.12.2021 registering y-o-y growth of 11.14%.

-CASA (Domestic) as on 31.12.2022 stood at 38.93%. Current deposits increased to Rs.11620 Crore as on 31.12.2022 from Rs.8606 Crore, thereby registering growth of 35.02% on y-o-y basis. Savings Deposits also increased to Rs.79,948.39 Crore as on 31.12.2022 as against Rs. 74,147.27 crore as on 31.12.2021 registering y-o-y growth of 7.78%.

Loan Book stood at Rs.1,51,059.08 Crore as on 31.12.2022 as against                                    Rs. 1,25,519.13 Crore as on 31.12.2021 registering a robust y-o-y growth of 20.35%. 

-On Asset Quality front, Gross NPA reduced to Rs.8,506.08 Crore (5.63%) as on 31.12.2022 as against Rs.10,042.41 Crore (8.00%) as on 31.12.2021 and from Rs.9358.92 Crore (6.58%) as on 30.09.22.

Net NPA reduced to Rs.2,406.90 Crore (1.66%) as on 31.12.2022 from Rs.3,333.59 Crore (2.81%) as on 31.12.2021 and from Rs.2,700.29 Crore (1.99%) as on 30.09.2022.

-Provision Coverage Ratio increased to 93.58% as on 31.12.2022 from 91.30% as on 31.12.2021 and from 92.90% as on 30.09.2022.

-Capital Adequacy Ratioimproved to 14.32% as on 31.12.2022 from 14.02%as on 30.09.2022 and CET-1 Ratio at 11.57% as on 31.12.2022 from 11.25% as on 30.09.2022