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Third-quarter earnings for UCO Bank from treasury gains as the banking system witnessed large FCNR deposits and as bond yields came down thanks to the Reserve Bank of India‘s recent liquidity-boosting measures, Arun Kaul, Chairman, UCO Bank, told CNBC-TV18.
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Cost of the fund for the UCO Bank had gone down to as low as 6.10 percent in previous quarter which has been lowest in banking industry, says CMD Arun Kaul.
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Bank of India and UCO Bank feel that the current infusion of capital by the government, they may not need additional capital till the end of the fiscal year.
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In an interview to CNBC-TV18, SS Mundra, Chairman, Bank of Baroda and Arun Kaul, Chairman, UCO Bank spoke about impact of RBI relief on MTM losses.
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Arun Kaul of UCO Bank said that he did not expect a rate cut by the RBI in its next policy meet. He added that liquidity infusion in the economy after the inflation data was not on RBI's agenda.
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Despite UCO Bank disappointing the street on Tuesday with its fourth quarter result, S Chandrasekharan, ED of the Bank sees strong recoveries in this quarter.
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The government-owned UCO bank is expecting a significant fall in its gross non-performing assets (NPA) during Jan-Mar as it sees much lower slippages during the quarter.
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UCO Bank's operating profits went up, but the net profit came down in Q3. Arun Kaul, Chairman, UCO Bank in an interview to CNBC-TV18 said that it was because they made fairly large provisions due to large slippages.
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Ananda Bhoumik of India Ratings & Research however, does not feel that there is a likelihood of a ratings downgrade of banks at this stage. He acknowledges the fact that asset quality problems mainly persist with mid-sized public sector banks and believes Canara Bank is going through a turbulent phase at the moment.
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Arun Kaul, chairman, UCO Bank, says that the market was expecting a rate cut in both repo and CRR. Unchanged rate cut has clearly disappointed the market.
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Arun Kaul, chairman, UCO Bank says that the bank is examining both the sides of deposits and lending rates. He further says depending on the lending portfolio some realignment would take place in lending rates.
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UCO Bank is part of the consortium of lenders to Kingfisher Airlines (KFA). In an interview to CNBC-TV18, Arun Kaul, chairman says, the bank has declared KFA account as a non-performing asset (NPA).
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Public sector lender UCO Bank delivered mixed third quarter numbers. Its profits rose 10% while net interest income (NII) declined 3% year-on-year (Y-o-Y) on an quarter on quarter basis (Q-o-Q) it was flat.
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In an interview to CNBC-TV18, Arun Kaul, chairman of UCO Bank spoke about rescheduling the payment of an outstanding loan of Rs 887 crore with Uttar Haryana Bijli Vitran Nigam (UHBVN) and the road ahead.
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November inflation eased to 9.11% (MoM) versus 9.73 % in October. Arun Kaul, chairman of UCO Bank says, if the wholesale price index remains 156.90, inflation is likely to come down below 8% by December-end and below 6% by March.
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UCO Bank reported a strong set of second quarter numbers for FY12. Arun Kaul, Chairman of the bank breaks down the second quarter results.
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Arun Kaul, Chairman of UCO Bank sees short-term volitality in savings deposite rates on the back of Reserve Bank of India's (RBI) savings rate deregulation move.
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Arun Kaul, chairman of UCO Bank expects net interest margins (NIMs) to cross 3% in FY12. Speaking to CNBC-TV18, Kaul said that net interest margins will further improve because the bank has shed lots of high cost deposits.
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Arun Kaul, chairman of UCO Bank, in an interview to CNBC-TV18, said that if the cost of fund moves up, then the bank will not have an option but to pass on the rate hike to customers.
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Public sector lender UCO Bank has posted a 12% rise in its net profit for the first quarter of fiscal year 2012. In an interview with CNBC-TV18, Arun Kaul, chairman of UCO Bank said, he expects credit growth of 19-20% in FY12.
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In an interview with CNBC-TV18, Arun Kaul, chairman of UCO Bank said, although absolute figure of June 30 credit may be slightly lower than March 31, the quarter-on-quarter will be approximately 18%. According to him, the bank should be able to maintain 3% net interest margins in FY12.
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In an interview with CNBC-TV18, Arun Kaul, chairman of UCO Bank, spoke about the banks results and his outlook.
