PNS | DEHRADUN
The Dehradun zonal office of the United Commercial (UCO) Bank claimed on Wednesday that on the basis of better net interest margin and asset quality, the net profit of the bank stands at Rs 551 crore on annual basis for the quarter ending in June 2024.
As per the managing director and chief executive officer Ashwani Kumar and the zonal manager Randhir Kumar, the bank had recorded a net profit of Rs 223 crore for the quarter ending in June 2023 and on a sequential basis, the bank’s profit had increased to over Rs 526 crore for the March 2024 quarter.
The bank further said that its shares have closed at Rs 55.95 per share on BSE with a gain of 1.51 percent. The bank’s net interest income has increased by 12.2 per cent to Rs 2.254 crore in Q1FY25 from Rs 2.009 crore in the same quarter a year ago.
