Shri Rajendra Kumar Saboo, Managing Director & CEO (I/C), UCO Bank
UCO Bank reported a strong performance for the quarter ended June 30, 2026, with total business rising 15.53% year-on-year to Rs. 6,05,083 crore. Gross advances grew 21.18% to Rs. 2,72,768 crore, while total deposits increased 11.28% to Rs. 3,32,315 crore.
CASA deposits stood at Rs. 1,16,136 crore, up 12.34% year-on-year, with savings deposits at Rs. 1,00,870 crore and current deposits at Rs. 15,266 crore. The CASA ratio was 36.94%.
The bank’s RAM portfolio, covering retail, agriculture and MSME segments, expanded 25.27% to Rs. 1,57,745 crore. Retail advances rose 27.32% to Rs. 71,549 crore, agriculture advances increased 30.01% to Rs. 38,952 crore, and MSME advances grew 18.79% to Rs. 47,244 crore.
Operating profit surged 79.84% year-on-year to Rs. 2,810 crore, while net profit rose 8.05% to Rs. 656 crore. Net interest income increased 16.86% to Rs. 2,808 crore, and the global net interest margin improved to 3.05%, while domestic NIM stood at 3.24%.
Asset quality improved during the quarter, with gross NPA declining to 2.08% and net NPA falling to 0.25%. The provision coverage ratio stood at 97.85%, while tangible PCR was 88.08%.
The capital adequacy ratio was 19.03%, including a tier-I capital ratio of 17.44%. The credit-deposit ratio stood at 82.08%, cost of funds improved to 4.36%, and fee-based income rose 35.12% to Rs. 505 crore.
Operational efficiency also improved, with business per employee rising to Rs. 28.47 crore and business per branch increasing to Rs. 176.77 crore. The bank had 3,421 domestic branches, two overseas branches each in Hong Kong and Singapore, and one representative office in Iran, with 61% of domestic branches located in rural and semi-urban areas.