Uco Bank

Aditya Birla Health Insurance inks bancassurance partnership with UCO Bank

ABHICL has more than 200 branches, with a diversified presence in over 4800 cities spread across the length and breadth of the country

SC's fraud-tagging ruling may lengthen process for banks: UCO Bank MD & CEO

Soma Sankara Prasad believes the process of identifying an account as fradulent would be akin to that of determining wilful defaulters

FSIB recommends Ashwani Kumar for the post of managing director of UCO Bank

FSIB, the headhunter for directors of state-owned banks and financial institutions, on Thursday recommended the name of Indian Bank executive director Ashwani Kumar for the post of managing director of UCO Bank. Prior to joining Indian Bank, Kumar was serving as chief general manager of Mumbai Zone of Punjab National Bank (PNB). The Financial Services Institutions Bureau (FSIB) interviewed 11 candidates from various public sector banks (PSBs) for the forthcoming positions of MD & CEO in PSBs, the Bureau said in a statement. "Keeping in view their performance in the interface, their overall experience and the extant parameters, the Bureau recommends Ashwani Kumar for the position of MD & CEO in UCO Bank vice Soma Sankara Prasad who is completing his tenure on May 31, 2023," it said. The final decision on the FSIB recommendation would be taken by the Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi. FSIB is headed by former secretary, Department of ...

UCO Bank raises Rs 500 crore in AT1 bonds at 9.5%, highest rate in FY23

AT1 bonds are a means by which banks augment core equity capital

State Bank of India likely to sell Rs 5,456-crore AT1 bonds next week

UCO Bank may also issue AT-1 bonds; banks raising funds amid strong loan growth

Nifty PSU Bank index surges 4% amid rebound in Adani group stocks

SBI, Bank of Baroda, Punjab & Sind Bank, Union Bank of India, UCO Bank, Bank of India, Bank of Maharashtra and Indian Overseas Bank were up 4 - 7 per cent each.

UCO Bank Q3 profit more than doubles to Rs 653 cr on decline in bad loans

UCO Bank on Tuesday reported more than two-fold jump in profit at Rs 653 crore for the quarter ended December 2022, driven by increase in interest income and decline in bad loans. Its net profit stood at Rs 310 crore in the same quarter of the preceding financial year. Total income increased to Rs 5,451 crore in the quarter from Rs 4,638 crore in the year-ago period, the bank said in a regulatory filing. At the same time, interest income rose to Rs 4,627 crore as compared to Rs 3,919 crore in the same quarter a year ago. On the asset quality front, the bank recorded an improvement with gross NPAs (Non-Performing Assets) declining to 5.63 per cent of gross advances as compared to 8 per cent at the end of the third quarter of 2021-22. Net NPAs too eased to 1.66 per cent from 2.81 per cent in the same quarter a year ago. As a result, provision for bad loans declined significantly to Rs 220 crore from Rs 565 crore in the same period a year ago. However, the capital adequacy ratio de

PSBs in focus; UCO Bank, Indian Overseas, Union Bank surge over 5%

Motilal Oswal Financial Services believes that sustained and consistent performance on delivering healthy return ratios can result in further re-rating of the stocks.

Interest rates nearly peaked, may go up by another 25 bps: UCO Bank CEO

Soma Sankara Prasad, managing director and chief executive officer of the Kolkata-based lender in an interview that he expects strong interest for the rupee trade from several nations

UCO Bank planning to raise up to Rs 1,000 cr by issuing debt securities

State-owned UCO Bank on Wednesday said it is planning to raise up to Rs 1,000 crore by issuing debt securities. The bank's board will consider the proposal for raising tier I capital in the form of additional tier I bonds in one or more tranches aggregating to Rs 1,000 crore, UCO Bank said in a regulatory filing. The board is scheduled to meet on January 3, 2023 to take up the fund raise proposal. UCO Bank stock closed at Rs 31.45 on BSE, down 2.93 per cent.

BS BFSI Insight Summit: Who's who of PSBs to take part in panel discussion

From State Bank of India Chairman Dinesh Kumar Khara to Sanjiv Chadha, MD & CEO, Bank of Baroda, here is the list of panelists from public sector banks of India at BSFI Insight Summit

Stock price of these two PSU banks have zoomed around 150% in last 22 days

In past one month, the stock price of UCO Bank zoomed 151%, while of Punjab & Sind Bank by 147%, as compared to 23% rise in the Nifty PSU Bank index and less than 1% gain in Nifty 50.

PSB index soars 3%; these three constituents have zoomed over 50% in 1 mth

In the past one month, the Nifty PSU Bank index has rallied 17.4 per cent as against a 2.1 per cent gain in the S&P BSE Sensex

Trade settlement in rupee: Govt, RBI devise country-specific plan

To start with, a small number of banks will be allowed to manage cross-border transactions in domestic currency with a particular country

RBI permits banks to open 12 special vostro accounts for trade in rupees

So far, not a single overseas trade transaction directly involving the rupee has taken place

PSU Bank index soars 73% from June lows; UCO, BOI, Canara zoom up to 102%

In the past one month, the Nifty PSU Bank index has rallied 31 per cent as compared to a 2.8 per cent rise in the Nifty 50 index

HDFC Bank, Canara Bank get RBI approval for rupee trade with Russia

Three others got permission earlier, but no deal so far

Nine Russian banks open special vostro accounts for trade in rupee

Next round of India-UK FTA talks expected in Dec: Commerce secy

15 new judicial and technical members appointed for NCLT benches

The tribunal has a total sanctioned strength of 63 members and 28 benches

Q2 Impact: SBI, BoB may see another 25% upside, UCO Bank 50%, hint charts

SBI hit life-time high, while Bank of Baroda registered a new 52-week high in trades on Monday after the banks reported strong Q2 earnings over the weekend. Here's what the charts indicate ahead.