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UCO Bank Shares Rally 20% After Reporting Encouraging Q4FY20 Results


Shares in UCO Bank on June 26, 2020 spurted as much as 20% after the public sector lender reported healthy result with net profit for the March ended FY20 quarter at Rs. 16.78 crore in comparison to a net loss of Rs.1,552 crore in the same quarter last year.The net income at the bank however stood steady at Rs 1,254.5 crore.

UCO Bank Shares Rally 20% After Reporting Encouraging Q4FY20 Results

Also, another positive for the bank came in as improved NPA with gross NPA sliding to 16.77% in comparison to 19.45% in the previous quarter. Net NPA at the bank also improved at 5.45% from 6.34 percent QoQ. The other income rose to Rs 768.8 crore from Rs 366.7 crore last year.

Shares of UCO Bank closed at Rs. 16.14, up 15.53% on the BSE. Stock on November 21, 2019 hit a 52-week high price of Rs. 22.40 per share on the NSE.

Read more about: uco bank
Story first published: Friday, June 26, 2020, 15:49 [IST]
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