UCO Bank Sample Papers
Kolkata based UCO bank has not a very impressive quarter results for January to March with 41% dip in the net profit at Rs. 225.9 crore. Assets of the bank have depreciated during this quarter. Business of the bank has improved by 19% for Rs 244348 crore at the end of March 11. Balance sheet of the bank has also improved by 19% to Rs 163398 crore at the end of March 11. CASA deposit raised to Rs 31668 showed growth of 16% compared to last year. Current deposit increased by 20% to Rs. 7360 crore and saving by 15% to Rs 24308 crore, net interest margin improved by 3.07% and credit deposit ratio improved to 69.22 % at March 11.
Quarterly performance report
For the quarter January to March 11, Bank has 26% increased in the interest earned at 3068.49 crore, whereas 31% rise in the interest earned from advances at Rs 2297.55 crore. The other sources of income showed modest growth by 15% to Rs 292.06 crore and net total income up to by 14% to Rs 1136.34 crore. The bank has already provided Rs. 371.54 crore, employee benefit pension gratuity for the period of nine months, which ended December 2010. The employee cost was gone up by 32% to Rs 381.19 crore whereas, operating cost went up by 21% to Rs. 175.26 crore. As a result, the cost to income ratio was up by 49%.
The operating profit was stable at 3% to Rs. 579.89 crore. The provisions and contingencies flowed by 93% to Rs. 340.77 crore, and the amount provided by the bank of Rs 210.32 crore have been kept as counter cyclical provisioning buffer. Provision for bad debts decreased by 54% to Rs. 93.64 crore. As a result, PBT diminished by 38% to Rs. 239.12 crore. At last, 48% increase in the provision for taxation at Rs 13.22 crore.
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