New Delhi, July 22 (MExN): State-owned UCO Bank on Wednesday reported a net profit of Rs 656 crore for the April-June 2026 quarter, registering a year-on-year growth of 8.1% from Rs 607 crore in the same period last year, driven by robust expansion in retail, agriculture, and MSME lending.
The bank's total business grew 15.53% year-on-year to Rs 6,05,083 crore, with gross advances surging 21.18% to Rs 2,72,768 crore and gross deposits rising 11.28% to Rs 3,32,315 crore, according to results announced by the lender.
Rajendra Kumar Saboo, In-charge Managing Director & Chief Executive Officer and Executive Director, highlighted that the bank recorded high growth in priority sectors, with agriculture loans up 30.01%, retail loans up 27.32%, and MSME loans up 18.79% on an annual basis. Housing loans and vehicle loans grew by 19.98% and 65.45%, respectively.
Asset quality improved further, with gross non-performing assets (NPA) declining by 55 basis points to 2.08% and net NPA falling by 20 bps to 0.25% as of June 2026.
On the digital front, the bank has successfully rolled out 30 asset products and 5 liability products, including online loans for pensions, education, vehicles, gold, housing, and Mudra. Digital business reached Rs 34,767 crore by the quarter-end.
Under its ESG initiatives, UCO Bank has extended green loans amounting to Rs 4,239 crore up to June 2026. The bank also provided financial literacy to over 4.44 lakh individuals and trained 4,733 candidates through its Rural Self Employment Training Institutes.
Under government social security schemes, the bank registered 87.73 lakh Pradhan Mantri Suraksha Bima Yojana (PMSBY), 44.00 lakh Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), and 17.26 lakh Atal Pension Yojana (APY) accounts by the end of the quarter. UCO Bank currently operates 3,421 domestic branches, two overseas branches (Hong Kong and Singapore), one representative office in Iran, 2,680 ATMs, and 11,146 Banking Correspondent (BC) points.
Business per employee improved to Rs 28.00 crore during the quarter. The bank also received the Innovation Excellence Award from Automation Anywhere for being the 'First Public Sector Bank adopting Agentic process automation,' and earned the Runner-up award at the 5th IBA CISO Summit & Citation 2026.
