UCO bank

UCO Bank is moving forward with its capital-raising strategy after securing an extension from the Securities and Exchange Board of India (SEBI), allowing the state-owned lender additional time to execute its fundraising plans. The move is aimed at strengthening the bank’s capital base while carefully managing equity dilution for existing shareholders. As public sector banks focus on balance-sheet resilience and regulatory compliance, UCO Bank’s approach reflects a measured effort to align growth ambitions with capital adequacy requirements.

UCO Bank delivered a resilient performance in the December quarter, reporting a 16% year-on-year increase in net profit to Rs. 739 crore. The improvement was driven by stable core income, continued moderation in credit costs and sustained progress in asset quality. The public-sector lender benefited from prudent lending practices and disciplined expense control, enabling it to navigate a competitive and rate-sensitive banking environment. While revenue growth remained measured, the reduction in stress-related provisions supported profitability.

UCO Bank posted a 13% year-on-year increase in global business during the third quarter, with total business rising to Rs. 5.54 lakh crore. The growth was driven by a steady rise in both advances and deposits, reflecting improving operational traction and customer confidence. The performance underscores the public sector lender’s continued recovery, supported by disciplined lending practices and stable deposit mobilization.

UCO Bank, one of India’s prominent public sector banks, has unveiled an ambitious plan to strengthen its retail and corporate presence by adding 150 new branches by March. This expansion aims to enhance customer accessibility, deepen market penetration, and support the bank’s growth strategy amid rising competition in the banking sector. The move aligns with broader financial inclusion objectives, targeting underserved regions and tier-2 and tier-3 cities.

UCO Bank has reported a notable increase in quarterly profits, driven by adjustments in Expected Credit Loss (ECL) norms and strategic participation in mergers and acquisitions (M&A) financing. The bank’s proactive credit risk management and selective financing initiatives highlight its ability to balance regulatory compliance with growth-oriented lending. Analysts note that these developments reflect a resilient performance amid evolving regulatory frameworks and a strengthening balance sheet.

A special CBI court in Mumbai has rejected the discharge plea of industrialist Abhay Lodha in a Rs. 74.82 crore bank fraud case involving UCO Bank, citing his pivotal role in the alleged conspiracy. Lodha, the managing director of Topworth Steels and Power Private Limited and promoter of the Topworth Group, is accused of orchestrating a fraudulent scheme using letters of credit (LCs) via a group entity, Akshata Mercantile Pvt. Ltd.