UCO Bank’s total business grows 12% in Q3 – Newz9

UCO Bank has introduced stronger annual progress for the quarter ending December 2024, with the lender’s total business rising by 12.18 per cent to Rs 4.88 lakh crore.
Provisional figures submitted to the inventory exchanges reveal a big 16.20 per cent improve in total advances, which reached Rs 2.08 lakh crore. This progress was primarily pushed by a formidable 18.83 per cent surge in home advances, now standing at Rs 1.83 lakh crore.
Deposits additionally noticed wholesome progress, climbing 9.37 per cent 12 months-on-12 months to Rs 2.80 lakh crore. Domestic deposits rose by 7.29 per cent to Rs 2.65 lakh crore, contributing to the general efficiency.
The financial institution’s present account financial savings account (CASA) ratio, a key indicator of a low-value deposit base, remained steady at 37.96 per cent, in comparison with 37.61 per cent in December 2023.
Additionally, the credit score-deposit (CD) ratio improved considerably, standing at 74.55 per cent throughout the reporting quarter, up from 69.93 per cent in the identical interval final 12 months. This displays higher asset utilization by the lender.