Page 6 - Uco Bank

Right to debar some promoters but SMEs deserve relaxed rules: UCO Bank MD

'Frauds have been happening in banks, but now the magnitude has gone up substantially,' says R K Takkar

Rs 6.21-billion fraud: CBI books former UCO Bank CMD Arun Kaul, others

Kaul, who was the CMD of a Kolkata-based bank between 2010 and 2015, allegedly facilitated the accused company in obtaining the loan

UCO Bank to merge branches in Hong Kong as it realigns overseas operations

Move follows RBI's ban on LoUs; With almost zero capital needed for opening a branch in Hong Kong, Indian banks long have been upbeat in opening branches there

Facing mergers and pay cuts, UCO Bank staff launch platform for turnaround

In face of threats of merger and salary cuts, the employees and officers of UCO Bank have joined hands and launched a new platform--United Forum of UCO Bank Unions-aimed at speedier turnaround of the bank. The mandate of the newly-formed organization is to motivate employees to work overtime and on holidays, holding credit camps for retail loans, retaining customers and intensifying NPA recovery through door to door campaigns, said Partha Chanda, secretary of All India Uco Bank Employees Federation.UCO Bank has a combined staff strength of about 25000.Few months back, one of the zonal heads of UCO Bank had requested to suspend salaries to employees in 11 branches to punish employees for their non-performance. The proposal was promptly shot down by the management, but raised panic among employees of the bank. Notably in 1997, when UCO Bank was passing through similar financial crisis, its employees, both staff and officers, had extended their working hours to hasten the bank's ...

UCO Bank to merge branches, raise deposits in turnaround plan

Govt had sent letters to 10 banks asking them to lay out a revival road-map for availing funds

UCO Bank to raise Rs 3,000 cr from LIC this year, turn around by next fiscal

RBI had initiated the PCA on it in view of high non-performing assets and negative return on assets

UCO Bank to sell NPAs worth Rs 2,000 crore

The net NPA was 8.99% at the end of the third quarter of 2016-17

UCO Bank may raise Rs 1,000 crore from LIC via bonds

Shares of bank were trading 1.10 per cent up at Rs 36.65 on the BSE

UCO Bank posts Q3 net loss of Rs 437 crore

Gross NPAs increase to 17.2% from 11% year-on-year

Note ban may offset impact of falling Iran deposits at UCO Bank

Deposits have come down from a peak of around Rs 25,000 cr to Rs 2,200 cr at present

UCO Bank posts net loss of Rs 384.83 crore

The gross NPA of the bank in the last quarter stood at 16.51%, against 8.51% in the same period last fiscal

UCO Bank to raise Rs 270 cr by issuing preferential shares to LIC

UCO Bank stock jumped 2.6% at Rs 33.60 a piece on BSE

CRISIL downgrades UCO Bank's tier-II bond rating

The bank's asset quality will continue to remain under pressure over the next few quarters, CRISIL said

UCO Bank to raise Rs 270 crore via share sale to LIC

Currently, insurance companies, including LIC, holds 12.02 per cent stake in the bank

UCO Bank posts Rs 440.57 crore loss in Q1, asset quality deteriorates

CEO R.K. Takkar said loss was on account of higher provisioning and lower operating profit

There is no harm in merger of banks: R K Takkar

Q&A with CMD, UCO Bank

UCO Bank seeks to raise Rs 4,000 crore this fiscal

Of the total additional requirement of Rs 4,000 crore capital, the bank needs to raise about Rs 3,000 crore as tier I capital

RBI fines UCO Bank Rs 1 crore for violation of a/c opening norms

RBI had carried out an inspection of books of accounts, internal control, compliance system and processes at one of the bank's branches

UCO Bank expects to return to profitability by FY18

Bank will not take any fresh exposure to large corporate firms under a new turnaround strategy

UCO Bank approves raising Rs 4,243 crore Tier I capital

Bank also said the board has approved proposal for raising Tier II Capital to the tune of Rs 1,500 crore