- Net income jumped to 5.51 billion rupees compared to 2.23 billion rupees year-on-year.
- Operating profit increased by 9.8% year-on-year, reaching 13.2 billion rupees.
- Gross non-performing assets slightly improved to 3.32% from 3.46% quarter-on-quarter.
- Provisions decreased by 1.8% quarter-on-quarter, totaling 4.59 billion rupees.
- Provision for loan losses saw a significant rise of 75% quarter-on-quarter, reaching 3.97 billion rupees.
- Interest income grew by 15% year-on-year to 60.2 billion rupees.
- Interest expense increased by 17% year-on-year, amounting to 37.7 billion rupees.
- Other income surged by 32% year-on-year, totaling 8.35 billion rupees.
- Shares climbed 2.2% to 56.25 rupees with 11.8 million shares traded.
- No buys, holds, or sells were recorded.
A look at Uco Bank Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 3 | |
| Growth | 5 | |
| Resilience | 2 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 3.4 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Based on the Smartkarma Smart Scores, UCO Bank seems to have a promising long-term outlook. With a strong score of 5 in Growth, the bank is positioned well for expansion and development in the future. This indicates that the bank is likely to see significant growth opportunities and increase its market presence over time. Additionally, the high Value score of 4 suggests that UCO Bank is currently trading at an attractive valuation, making it a potentially good investment opportunity for those seeking value in the stock market.
However, UCO Bank’s overall outlook is slightly dampened by a lower Resilience score of 2, indicating that the bank may face some challenges in maintaining stability during adverse market conditions. The Dividend and Momentum scores of 3 each suggest a moderate performance in terms of dividend payouts and price momentum. Despite this, UCO Bank’s extensive banking network in India and overseas branches position it well to capitalize on growth opportunities and expand its market presence over the long term.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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