UCO BANK

UCO Bank reported its unaudited financial results for the quarter ended June 30, 2026. The bank's total business grew by 15.53% year-on-year to ₹6,05,083 Crore. Gross advances increased by 21.18% to ₹2,72,768 Crore, and total deposits grew by 11.28% to ₹3,32,315 Crore. Operating profit saw a significant jump of 79.84% to ₹2,810 Crore. Net profit for the quarter was ₹656 Crore, an 8.05% increase from the previous year. The bank also reported a reduction in NPAs, with Gross NPA at 2.08% and Net NPA at 0.25%. The Capital Adequacy Ratio stood at 19.03%.

UCO Bank's Q1 FY27 standalone headline — net profit ₹656 Cr, up 8.05% YoY and down 18% QoQ — badly understates the quarter. The muted growth is almost entirely a one-time ₹1,237.13 Cr charge to the P&L from remeasuring deferred tax assets as the bank moved to the concessional Section 115BAA tax regime from FY27, which pushed the tax line to ₹1,919 Cr (from ₹335 Cr a year ago). Strip that out and PAT would be roughly ₹1,893 Cr. The undistorted read: pre-tax profit ₹2,575 Cr, +172% YoY, and operating profit ₹2,810 Cr, +79.8% YoY. The operating engine did the work. Net interest income rose 16.9% to ₹2,808 Cr and global NIM improved 9 bps YoY to 3.05%, while other income jumped ~70% to ₹1,686 Cr — lifted by ₹1,018 Cr of recovery in written-off accounts (11.7% of total income). Operating margin expanded to 32.4% from 21.0% a year ago; non-tax provisions actually fell to ₹235 Cr from ₹616 Cr as slippages eased. Net profit margin optically compressed to 7.56% (from 8.17%), but that sits entirely on the tax line, not on operations. The print confirms the confident tone management struck on the Q4 call. Total business crossed ₹6.05 lakh crore, +15.5% YoY, tracking the 12-14% credit / 10-12% deposit guidance; asset quality improved to GNPA 2.08% (from 2.63%) and NNPA 0.25% (from 0.45%), landing just shy of the stated sub-2%/sub-0.2% targets, with PCR at 92.85%. RoA of 0.68% annualised is depressed by the tax charge, leaving the 1% RoA goal still in progress. Management framed performance as "positive," and the operating numbers agree even as the reported PAT hides it. No formal street PAT consensus surfaced for this name. On governance, the board invoked Clause 14A to approve results directly as the audit committee lacked quorum (auditors noted it; opinion unmodified), and ED Rajendra Kumar Saboo holds additional charge as MD & CEO. The tax hit is non-recurring: from Q2, the lower 115BAA rate should let reported PAT snap back toward the ₹1,800-1,900 Cr run-rate this quarter's pre-tax profit implies — provided the recovery-driven other income holds, since ₹1,018 Cr of it is a written-off recovery that may not repeat at this scale.

UCO Bank has announced that its Board of Directors will convene on July 22, 2026. The primary agenda item for this meeting is to consider, approve, and take on record the unaudited financial results for the first quarter ended June 30, 2026. Additionally, the bank has informed about the closure of the trading window for its securities, which began on July 1, 2026, and will remain closed until 48 hours after the declaration of these financial results, in line with its insider trading prevention policy.

UCO Bank's Asset Liability Management Committee (ALCO) has decided to revise several benchmark interest rates, effective July 10, 2026. The Marginal Cost of Funds Based Lending Rate (MCLR) for tenors ranging from one month to one year will see an increase. Specifically, the one-month MCLR will rise to 8.20% from 8.15%, and the one-year MCLR will be revised to 8.80% from 8.75%. Other benchmark rates like TBLR (3-month, 6-month, 12-month) and UCO G-Sec Rate (1-year) will also see adjustments, with some decreasing and others increasing. Notably, the TBLR (12 month) will increase to 5.80% from 5.75%, while the UCO G-Sec Rate (1 year) will decrease to 5.57% from 6.00%. Rates such as Repo Linked Rate, Base Rate, and BPLR remain unchanged. These changes are expected to impact the bank's lending and deposit rates.

UCO Bank has released its provisional business update for Q1FY2027, ending June 30, 2026. Total business reached ₹6.05 lakh crore, marking a significant year-on-year growth of 15.46%. Total advances grew by 21.33% to ₹2.73 lakh crore, while total deposits increased by 11.04% to ₹3.32 lakh crore. Domestic advances saw a robust rise of 22.50%, and domestic deposits grew by 12.14%. The CD ratio improved to 82.15%, indicating efficient utilization of deposits for lending. These figures are provisional and subject to review by the Statutory Central Auditors.

UCO Bank has announced the closure of its trading window for dealing in the bank's shares. The window will be shut effective July 1, 2026, and will remain closed until 48 hours after the disclosure of the financial results for the quarter ended June 30, 2026. The bank will communicate the date of the Board of Directors' meeting to approve these financial results in due course. This measure is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015.

Shri Rajendra Kumar Saboo, Executive Director of UCO Bank, has been assigned the additional charge of Managing Director & Chief Executive Officer. This appointment by the Department of Financial Services, Ministry of Finance, is effective from June 1, 2026, following the completion of Shri Ashwani Kumar's term. Shri Saboo will hold this additional responsibility until August 31, 2026, or until a regular incumbent is appointed, whichever is earlier. Shri Saboo brings extensive banking experience from various roles, including leadership positions in treasury, international banking, digital banking, and strategic management.

UCO Bank has responded to stock exchange queries regarding a significant increase in its share trading volume. The bank stated that it has consistently disclosed all material information and events as required by SEBI regulations. UCO Bank confirmed that it is unaware of any undisclosed information or impending announcements that could explain the recent trading activity and price/volume behavior. The bank reiterated its commitment to timely disclosure of all material information impacting its operations and performance.

UCO Bank's Asset Liability Management Committee (ALCO) has reviewed and revised certain benchmark rates effective June 10, 2026. While the Marginal Cost of Funds Based Lending Rate (MCLR) and Repo Linked Rates remain unchanged, the bank has increased its TBLR (3-month, 6-month, and 12-month) and G-Sec Linked Rates. Specifically, TBLR (3-month) increased by 0.10% to 5.40%, TBLR (6-month) by 0.10% to 5.60%, and TBLR (12-month) by 0.15% to 5.75%. The UCO G-Sec Rate (1-year) has been revised to 6.00% from 5.74%. The 10-year G-Sec Rate YTM also saw a slight decrease to 7.11% from 7.21%. Other rates like Base Rate and BPLR remain static.

UCO Bank has announced the availability of its Annual Report for the financial year 2025-26, pursuant to Regulation 34 of the SEBI (LODR) Regulations, 2015. The report is accessible on the bank's website. Key details including Board of Directors, Business Performance, Financial Statements, and Corporate Governance are included in the report. The notice of the Annual General Meeting was submitted on May 18, 2026.