UCO Bank Q1 Update: Loan Book Jumps 18% To Rs 1.94 Lakh Crore
UCO Bank's gross advances rose 17.8% on a yearly basis to Rs 1.94 lakh crore in the April–June quarter, according to provisional quarterly business updates filed with stock exchanges on Thursday. The bank's total business portfolio rose 11.5% to Rs 4.62 lakh crore.
The Kolkata-based public sector lender reported a growth of 7.4% in total deposits to Rs 2.68 lakh crore in the first quarter, as compared to Rs 2.5 lakh crore in the same period last year.
CASA ratio—the proportion of deposits that come from low-cost current and savings accounts—increased marginally from 39.25% to 38.62% sequentially, to Rs 98,000 crore. A higher CASA ratio indicates a lower cost of funds, since lenders do not usually give any interest on current account deposits and the interest on savings accounts is low.
The credit-deposit ratio, which indicates liquidity and credit risks, stood at 72.15%, as compared to 71.02% in the January-March quarter.
Shares of UCO Bank closed 0.48% lower at Rs 53.90 apiece ahead of the announcement, as compared to a flat benchmark BSE Sensex.
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