UCO Bank Sees Strong Loan Growth, Deposit Traction

UCO Bank posted a robust performance in the March quarter with double-digit growth in both credit and deposits, even as its low-cost deposit ratio softened slightly.

Total advances rose 17.7% year-on-year to ₹2.20 trillion as of March 31, according to provisional data released on Thursday.

Domestic advances saw a stronger rise of 20.4%, reaching ₹1.95 trillion.

Total business expanded 14% on year to ₹5.13 trillion. Total deposits grew 11.4% to ₹2.93 trillion, while domestic deposits stood at ₹2.76 trillion, up 10.4% from a year ago.

The current and savings account ratio declined to 37.90% as of March 31 from 39.25% a year ago.

The credit-to-deposit ratio improved to 75.01%, up from 71.02% a year earlier and 74.45% as of the end of the December quarter.