UCO Bank shares dipped 5.94 per cent on Friday afternoon following the public sector lender reporting a net loss of Rs 1,715 crore for the fourth quarter of the fiscal ending March 31, 2016.
The shares ended the session down at Rs 34.05 on the BSE.
A near 2.5 time jump in provisioning on account of bad and stressed assets is said to be the cause behind the dip in losses.
The bank had reported a net profit of Rs 209 crore in the corresponding quarter last fiscal.
During the quarter under review, Kolkata-based UCO Bank has made a provision of Rs 2,345 crore towards stressed loans, a 142 per cent increase over Rs 968 crore it did in the year-ago-period.
For the full fiscal, the bank reported a net loss of Rs 2,799 crore, while its total income dipped to Rs 20,157 crore (Rs 21,363 crore).
Asset Quality
The bank's gross non-performing assets increased to Rs 20,907 crore, a 103 per cent rise when compared to Rs 10,265 crore it reported last fiscal.
As a percentage of total advances, UCO Bank's gross NPA (called gross NPA per cent) increased to 15.43 per cent (6.76 per cent).
UCO Bank's net non-performing assets per cent (gross NPA minus provisions) stood at 9.09 against 6.76 per cent in the year ago period.
On an absolute basis, its net NPA for FY-16 increased to Rs 11,444 crore (Rs 6,331 crore).