Kolkata-based public sector lender UCO Bank has posted a 22.6% year-on-year increase in net profit for the quarter ended March 31, 2026, reaching Rs 801 crore compared to Rs 653 crore in the same period last year.
Key Financial Highlights
The bank's cost of funds improved by 31 basis points year-on-year to 4.5% during the quarter. Managing Director and CEO Ashwani Kumar stated that UCO Bank's performance ranks among the best among public sector banks.
Fee-based income witnessed a robust growth of 32.6% year-on-year, rising to Rs 516 crore from Rs 390 crore. Additionally, the bank recorded recovery and upgradation of over Rs 700 crore during the quarter.
Impact of Geopolitical Developments
Addressing concerns about the Iran escrow account, Kumar clarified that the ongoing war had no significant impact on the bank's dealings related to the account.
UCO Bank continues to focus on improving its asset quality and operational efficiency, aiming to sustain its growth momentum in the coming quarters.
