UCO BankNet profit ₹786 Cr (+26.8%), GNPA 1.96%

UCO Bank reported Q2 FY27 net profit of ₹786 crore, up 26.77% year-on-year, and operating profit of ₹1,872 crore, up 16.04%.

Total business reached ₹6,37,280 crore, up 18.81%, with advances up 24.70% to ₹2,87,690 crore and deposits up 14.36% to ₹3,49,590 crore. Retail advances grew 30.23%, agriculture 29.59% and MSME 20.32%. Net interest income was ₹2,886 crore, up 13.96%; global net interest margin was 3% and domestic margin 3.19%. Gross NPA fell to 1.96% and net NPA to 0.18%, ahead of year-end targets, while the slippage ratio was 0.85% and credit cost 0.65%.

CASA ratio was 36.77%, slightly lower than June. Capital adequacy was 18.85%. Management said it has provided ₹2,500 crore against an estimated expected credit loss transition requirement of about ₹3,200 crore. It said written-off recoveries normalised to ₹301 crore after a one-off in Q1, that treasury pressure from hardening yields would be offset by repo-linked loans, about two-thirds of advances, and that it does not revise guidance mid-year.