UCO Bank reported a strong set of second quarter numbers for FY12. The bank reported a net profit of Rs 231 crore, a growth of 94% as compared to Rs 119 crore in the corresponding quarter of last fiscal.
Arun Kaul, Chairman of UCO Bank breaks down their second quarter results for CNBC-TV18's viewers. He also discusses the bank's strategy going forward. Below is an edited transcript of his interview. Watch the accompanying video for more. Q: There is a lower provisioning for the quarter. Why you have done that?
A: We started the cleaning up exercise last year itself. For the year ending March 31, there are slippages of almost about Rs 2,650 crore. Gradually the slippages are coming down. Today, we have 100% system driven NPA
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