UCO Bank Q2 net profit up 94% at Rs 231 cr

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UCO Bank Q2 net profit up 94% at Rs 231 cr

UCO Bank has reported a net profit of Rs 231 crore in the second quarter of FY12, a growth of 94% as compared to Rs 119 crore in the corresponding quarter of last fiscal. The PAT was higher on back of lower provisioning.

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UCO Bank has reported a net profit of Rs 231 crore in the second quarter of FY12, a growth of 94% as compared to Rs 119 crore in the corresponding quarter of last fiscal. The PAT was higher on back of lower provisioning.

Net interest income rose to Rs 1,010 crore from Rs 1,001 crore year-on-year.

Gross non-performing assets (NPAs) in the July-September quarter of FY12 stood at 3.64% versus 2.39% in a year ago period.

Gross NPAs stood at Rs 3,542 crore in the Q2FY12 as against Rs 2,058 crore in same quarter the previous year.

Net NPAs too increased at 2.11% as against 1.18% during the same period.