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.
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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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