1 hour ago
HomeMarket NewsUCO Bank Q3 business grows 13% YoY as loan growth outpaces deposits
State-owned UCO Bank reported steady Q3 momentum, with total business up 13.3% year-on-year, driven by strong advances growth, improving CASA ratio and a higher credit–deposit ratio.
1 Min Read
State-owned lender UCO Bank on Friday reported a steady business performance for the third quarter, marked by healthy loan growth and improving balance-sheet metrics.
The bank’s total business rose 3.36% sequentially and 13.3% year-on-year to ₹5.54 lakh crore during the quarter. Advances continued to outpace deposit growth, with total loans increasing 5.19% quarter-on-quarter and 16.27% from a year earlier to ₹2.43 lakh crore.
Total deposits stood at ₹3.10 lakh crore, reflecting a growth of 1.64% sequentially and 10.71% on a year-on-year basis, indicating stable accretion amid a competitive deposit environment.
Also Read: Three banking stocks gain 2% each post Q3 business updates
Asset mix also showed incremental improvement, with the CASA ratio inching up to 38.41% from 38.11% in the previous quarter and 37.97% a year ago, supporting funding cost stability.
The credit–deposit ratio climbed to 78.61%, compared with 75.47% in the preceding quarter and 74.45% last year, underscoring stronger credit deployment.
Shares of UCO Bank responded positively to the update, closing at an intraday high of ₹30.62 on the NSE, up 3.69% during the session.
