UCO Bank Share Price – NSE  /  BSE

Banks, Mid Cap

UCO Bank will hold a meeting of the Board of Directors of the Company on 29 April 2024.

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UCO Bank has reviewed the Benchmark rates and decided for revision in TBLR(3-month), as detailed hereunder:

MCLR Tenor Rate
Overnight - 8.10%
One month - 8.30%
Three month - 8.45%
Six month - 8.70%
One year - 8.85%

Other Benchmark Rates
Benchmark Rate
TBLR (3 month) w.e.f. 10 April 2024 - 6.90%
TBLR (6 month) - 7.10%
TBLR (12 month) - 7.10%
Repo Linked Rate - UCO Float - 9.30%
Base Rate - 9.60%
BPLR - 14.25%

The revised TBLR(3-month) is effective from 10 April 2024. Other Benchmark rates viz. MCLR, TBLR (6/12-month), Repo Linked rate, Base Rate, and BPLR remain unchanged.

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On quarter on quarter (QoQ) basis, the advances grew by 4.47% in Q4 FY24 from Rs 1.79 lakh crore as on 31 December 2023.

During the quarter, total business stood at Rs 4.50 lakh crore (up 9.62% YoY and up 3.45% QoQ) while total deposit was at Rs 2.63 lakh crore (up 5.53% YoY and up 2.73% QoQ).

Domestic advances jumped 16.62% to Rs 1.63 lakh crore as on 31 March 2024 from Rs 1.39 lakh crore as on 31 March 2023 and 5.84% rise from Rs 1.54 lakh crore as on 31 December 2023.

Domestic deposit was at Rs 2.50 lakh crore as on 31 March 2024, registering a growth of 3.83% YoY and 1.21% QoQ.

Domestic CASA deposit came in at Rs 0.98 lakh crore during the period under review (up 7.76% YoY and up 7.69% QoQ).

CASA ratio improved to 39.25% as on 31 March 2024 as compared to 37.82% as of 31 March 2023 and 37.61% as on 31 December 2023.

Credit-Deposit (CD) ratio increased to 71.20% as on 31 March 2024 as against 64.82% as of 31 March 2023 and 69.93% as on 31 December 2023.

UCO Bank is engaged in providing wide range of banking and financial services including retail banking, corporate banking and treasury operations.

The bank’s standalone net profit declined 23% to Rs 502.83 crore despite of 17.7% increase in total income to Rs 6,412.71 crore in Q3 FY24 over Q3 FY23.

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UCO Bank gained for a third straight session today. The stock is quoting at Rs 51.7, up 1.77% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.36% on the day, quoting at 22091.6. The Sensex is at 72819.71, up 0.25%. UCO Bank has slipped around 12.67% in last one month.

Meanwhile, Nifty PSU Bank index of which UCO Bank is a constituent, has slipped around 2.65% in last one month and is currently quoting at 6822.65, up 0.96% on the day. The volume in the stock stood at 77.38 lakh shares today, compared to the daily average of 182.11 lakh shares in last one month.

The PE of the stock is 35.55 based on TTM earnings ending December 23.

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