UCO Bank Q4’24 net down 9.5% to Rs 525 crore

(20 second reading) UCO Bank said that its board has approved the issuance of fresh equity shares with a face value of Rs 4,000 crore in the current fiscal year.
The Kolkata-based bank also reported a standalone net profit of Rs 525.77 crore for the fourth quarter ended March 2024, a decrease of 9.5 per cent compared to the corresponding period last year.
UCO Bank’s total income for the quarter grew by 17.44 per cent to Rs 6,984.61 crore. The bank also witnessed an improvement in asset quality, with gross NPA falling to 3.46 per cent compared to 4.78 per cent a year ago.
The lender further declared a dividend of Rs 0.28 per share for FY24.