UCO Bank Announced Performance Highlights for 1Q FY13
OREANDA-NEWS. August 8, 2012. Q1 Operating Profit zoomed 27.6% to touch Rs. 780 Crore.
Net Profit for Q1 rose by 23.9% to reach Rs. 362 Crore.
Total Business touched Rs. 2.74 lac Crore - growth of 22.6%.
Total Deposit at Rs. 1.55 lac Crore - growth of 21.5%.
Total Advance at Rs. 1.19 lac Crore - growth of 24.0%.
Total Interest Income rose by 22.7% to reach Rs.4174 Crore.
Total Income of the bank (Rs.4407 Crore) showed a growth of 19.9%.
Cost to income ratio was 38.85%.
Parameter |
As on/Qtr ended 30.6.11 (Rs. Cr.) |
As on/Qtr ended 30.6.12 (Rs. Cr.) |
Change over 30.6.11 (%) |
Global Business |
223,626 |
274,173 |
22.6 |
Global Deposits |
127,534 |
155,010 |
21.5 |
Global Advances |
96,092 |
119,163 |
24.0 |
Operating Profit |
611 |
780 |
27.6 |
Net Profit |
292 |
362 |
23.9 |
Net Interest Income |
808 |
1043 |
29.1 |
Cost to income Ratio |
43.57 |
38.85 |
(10.8) |
Book Value per Share |
86.82 |
101.21 |
16.5 |
EPS |
4.66 |
5.45 |
16.9 |
Key Ratios:
Parameter |
30.6.11 |
31.3.12 |
30.6.12 |
Net Interest Margin Global |
2.46 |
2.71 |
2.44 |
Net Interest Margin Domestic |
2.60 |
2.95 |
2.58 |
Return on Assets |
0.75 |
0.59 |
0.81 |
Return on Equity |
22.44 |
18.14 |
23.14 |
CAR |
13.51 |
12.35 |
12.33 |
Tier-I capital |
8.52 |
8.09 |
8.15 |
Tier- II capital |
4.99 |
4.26 |
4.18 |
Gross NPA (%) |
3.50 |
3.48 |
3.88 |
Net NPA (%) |
2.15 |
1.96 |
2.23 |
NPA Coverage Ratio |
48.58 |
54.39 |
52.72 |
PROFIT
Operating Profit for Q1 at Rs.780.4 Crore registered a sharp growth of 27.6% YoY.
Net Profit of the Bank recorded a YoY growth of 23.9% to reach Rs.362.4 crore for the first quarter of 2012-13.
INCOME
Total income during Q1 FY’13 rose by 19.9% to Rs. 4407.38 crore due to healthy growth of 22.7% in Interest Income.
BUSINESS
Total business as at the end of Jun’12 amounted to Rs.274,173 crore as compared to Rs.223,626 Crore in Jun’11, exhibiting a growth of 22.6 % on Y-o-Y basis.
CASA deposits stood at Rs.36,151 crore (25.60% of domestic deposit) as on Jun’12 against Rs.30,841 crore a year ago registering a Y-o-Y growth of 17.2% aided by 48.1% rise in Current Deposits and 9.3% rise in Saving Deposits.
Advances of the Bank at Rs. 119,163 crore at the end of Jun’12 grew by 24 % (YoY) from Rs. 96,092 crore at the end of Jun’11.
Credit Deposit Ratio improved to 76.87% as at Jun’12 from 75.35 % in Jun’11.
IMPORTANT RATIOS
Yield on Advances stood at 11.30% in Q1 FY’13 against 10.87 % in the corresponding period last year.
Cost of Deposit stood at 7.69% for Q1 FY’13 as against 7.24 % for Q1 FY’12.
CAR of the bank was comfortable at 12.33% under BASEL-II (Tier-I Capital: 8.15%; Tier-II Capital: 4.18%).
Gross NPA ratio was 3.8% as at Jun’12 whereas Net NPA ratio was 2.2%.
RECOVERY OF DUES
Through sustained efforts bank was able to reduce NPAs by Rs.324 crores during Q1’FY13 on the back of cash recovery of Rs.171 Crore and upgradation to the tune of Rs.103 Crore.
QTR-on-QTR SEQUENTIAL PERFORMANCE
• Net Profit(Rs.362 Crore) recorded a 43% growth over previous Qtr.(Rs. 253 cr.) aided by 12% fall in provisioning.
• Total income during the current Qtr. at Rs.4407 Crore increased 4.50% over the previous Mar’12-Qtr. figure (Rs.4217 crore).
•Interest income at Rs.4174 Crore improved by 5.27% over Q4 FY’12(Rs. 3965 Crore).
DELIVERY CHANNEL
' As on 30.06.2012 Bank’s branch network stood at 2400 (2396 domestic and 4 overseas branches ).
' There were 916 ATMs facilitating around 20.22 lacs ATM/VISA Debit card holders.
' Bank has launched Biometric ATMs for the benefit of Biometric Card Holders.
FINANCIAL INCLUSION
As on 30th June 2012, Bank has covered 1703 villages having population more than 2000 where 665,554 accounts have been opened and 65,473 smart cards were issued.
NEW INITIATIVES
255 Ultra Small branches opened during the quarter.
2948 Self Help Groups formed.
52 new ATM’s (Onsite 11, Offsite 41) added during Q1 taking the total to 916 (Onsite 562, Offsite 354) as on 30.06.2012.
1,29,638 numbers of ATM/VISA Debit cards issued during Q1 taking the total cards issued as on 30.06.2012 to 20,22,381.
Shri Arun Kaul, CMD of UCO Bank was chosen for the Thought Leaders Award (Banking & Finance) at the
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