UCO Bank reported an improvement in bottomline with a near 66 per cent decline in net loss. For the fourth quarter ending March 31, 2017, net loss stood at ₹588 crore. In the year-ago period, the net loss stood at ₹1,715 crore. During the quarter, interest earnings declined 17 per cent to ₹3,614 crore (₹4,358 crore).
For the full fiscal (FY17), net loss fell 34 per cent to ₹1,851 crore (net loss in FY16 stood at ₹2,799 crore).
During the year, the bank saw profit from sale of investments increase to ₹1,241 crore.
According to a notification to the bourses, the bank’s gross non-performing assets rose 10 per cent to ₹22,541 crore in FY17.
Net NPA, however, saw a 7 per cent year-on-year decline to ₹10,703 crore (₹11,444 crore). Provision-coverage ratio stood at 61.17 per cent.