UCO Bank is building strategic relocates as it gears up for capital-raising initiatives, aiming to align with regulatory public shareholding norms. The bank plans to seek an extension from SEBI to comply with the stipulated deadline as government stake reduction remains uncertain.
During a virtual press conference, UCO Bank’s Managing Director Ashwani Kumar shared insights on the bank’s financial health. The lfinisher reported a 15.65% rise in net profit for Q3 FY2025, buoyed by operational growth and enhanced margins. Asset quality revealed improvement, with a decline in non-performing assets.
The bank is also exploring fund-raising avenues, including a Qualified Institutional Placement and an Offer for Sale. The institution maintains strong growth in its loan and deposit portfolios, supported by an increased focus on digitization and customer service enhancements to sustain competitiveness.
(With inputs from agencies.)
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