Uco Bank’s loss of Rs 999 crore


In the third quarter of the financial year 2019, the government bank UCO Bank lost Rs 999 crore, while the deficit was Rs 1,016.4 crore in the same period of the financial year 2018. In the third quarter, interest income of UCO Bank rose 0.8 percent to Rs 826.6 crore, from Rs 820 crore in the same period last year.
Similarly, the bank’s bad loans (NPA) gross witnessed an increase, which reached 27.39 per cent. Earlier it was at 25.37 percent. Net NPA also increased from 11.97 percent to 12.48 percent. The bank reduced the provision during this period and it came down from Rs 1,643 crore to Rs 1,400 crore, compared to Rs 1,385 crore in the third quarter of last year.