UCO Bank Reports 8 Percent Rise in Q1 Net Profit

UCO Bank reported a net profit of ₹656 crore for the first quarter of the 2026-27 financial year, representing an 8% increase over the ₹607 crore earned in the same period last year. This growth was fueled by an 80% surge in operating profit to approximately ₹2,810 crore and a 62% reduction in provisions for bad loans, which dropped to ₹235 crore.

The bank saw significant improvements in asset quality, with gross non-performing assets declining to 2.08% and net NPAs falling to 0.25%. Credit growth increased by 21.18%. Managing Director and CEO Rajendra Kumar Saboo noted that the operating profit growth resulted from contributions across most parameters, including a 16.85% increase in net interest income.

Looking forward, the bank plans to open a branch in GIFT City next month. To comply with SEBI guidelines, UCO Bank intends to raise equity capital to reduce the government's shareholding from 90.95% to below 75%.