INSUBCONTINENT EXCLUSIVE:
KOLKATA: State-owned Uco Bank suffered Rs 2,134 crore net loss for the fourth quarter to March 2018, nearly four times the loss reported in
the year ago period.
This was the 10th quarterly loss in a row for the troubled lender that was weighed down by sharp deterioration in asset
The bank's net loss for the December 2017 quarter was Rs 1,016 crore.
One-fourth of its loan portfolio has turned sticky, the bank said in a
regulatory filing to stock exchanges.
Its gross non-performance assets ratio slipped to 24.64 per cent at the end of March, compared with
20.64 per cent a quarter back.
The bank has made a provision of Rs 426 crore against sticky accounts which were referred to the National
Company Law Tribunal under Bankruptcy Code.
Uco has reported loss in wholesale lending as well as retail lending while its income from
treasury declined too contributing to the net loss.
Its operating profit dipped too at Rs 112 crore compared with Rs 119 crore in the year
ago period as income from core operation shrunk to Rs 3,358 crore from Rs 3,614 crore.
