OREANDA-NEWS. August 8, 2012. Q1 Operating Profit zoomed 27.6% to touch Rs. 780 Crore.

Net Profit for Q1 rose by 23.9% to reach Rs. 362 Crore.

Total Business touched Rs. 2.74 lac Crore - growth of 22.6%.

Total Deposit at Rs. 1.55 lac Crore - growth of 21.5%.

Total Advance at Rs. 1.19 lac Crore - growth of 24.0%.

Total Interest Income rose by 22.7% to reach Rs.4174 Crore.

Total Income of the bank (Rs.4407 Crore) showed a growth of 19.9%.

Cost to income ratio was 38.85%.

Parameter

As on/Qtr ended 30.6.11 (Rs. Cr.)

As on/Qtr ended 30.6.12 (Rs. Cr.)

Change over 30.6.11

(%)

Global Business

223,626

274,173

22.6

Global Deposits

127,534

155,010

21.5

Global Advances

96,092

119,163

24.0

Operating Profit

611

780

27.6

Net Profit

292

362

23.9

Net Interest Income

808

1043

29.1

Cost to income Ratio

43.57

38.85

(10.8)

Book Value per Share

86.82

101.21

16.5

EPS

4.66

5.45

16.9

Key Ratios:

Parameter

30.6.11

31.3.12

30.6.12

Net Interest Margin Global

2.46

2.71

2.44

Net Interest Margin Domestic

2.60

2.95

2.58

Return on Assets

0.75

0.59

0.81

Return on Equity

22.44

18.14

23.14

CAR

13.51

12.35

12.33

Tier-I capital

8.52

8.09

8.15

Tier- II capital

4.99

4.26

4.18

Gross NPA (%)

3.50

3.48

3.88

Net NPA (%)

2.15

1.96

2.23

NPA Coverage Ratio

48.58

54.39

52.72

PROFIT

Operating Profit for Q1 at Rs.780.4 Crore registered a sharp growth of 27.6% YoY.

Net Profit of the Bank recorded a YoY growth of 23.9% to reach Rs.362.4 crore for the first quarter of 2012-13.

INCOME

Total income during Q1 FY’13 rose by 19.9% to Rs. 4407.38 crore due to healthy growth of 22.7% in Interest Income.

BUSINESS

Total business as at the end of Jun’12 amounted to Rs.274,173 crore as compared to Rs.223,626 Crore in Jun’11, exhibiting a growth of 22.6 % on Y-o-Y basis.

CASA deposits stood at Rs.36,151 crore (25.60% of domestic deposit) as on Jun’12 against Rs.30,841 crore a year ago registering a Y-o-Y growth of 17.2% aided by 48.1% rise in Current Deposits and 9.3% rise in Saving Deposits.

Advances of the Bank at Rs. 119,163 crore at the end of Jun’12 grew by 24 % (YoY) from Rs. 96,092 crore at the end of Jun’11.

Credit Deposit Ratio improved to 76.87% as at Jun’12 from 75.35 % in Jun’11.

IMPORTANT RATIOS

Yield on Advances stood at 11.30% in Q1 FY’13 against 10.87 % in the corresponding period last year.

Cost of Deposit stood at 7.69% for Q1 FY’13 as against 7.24 % for Q1 FY’12.

CAR of the bank was comfortable at 12.33% under BASEL-II (Tier-I Capital: 8.15%; Tier-II Capital: 4.18%).

Gross NPA ratio was 3.8% as at Jun’12 whereas Net NPA ratio was 2.2%.

RECOVERY OF DUES

Through sustained efforts bank was able to reduce NPAs by Rs.324 crores during Q1’FY13 on the back of cash recovery of Rs.171 Crore and upgradation to the tune of Rs.103 Crore.

QTR-on-QTR SEQUENTIAL PERFORMANCE

•           Net Profit(Rs.362 Crore) recorded a 43% growth over previous Qtr.(Rs. 253 cr.) aided by 12% fall in provisioning.

•           Total income during the current Qtr. at Rs.4407 Crore increased 4.50% over the previous Mar’12-Qtr. figure (Rs.4217 crore).

•Interest income at Rs.4174 Crore improved by 5.27% over Q4 FY’12(Rs. 3965 Crore).

DELIVERY CHANNEL

' As on 30.06.2012 Bank’s branch network stood at 2400 (2396 domestic and 4 overseas branches ).

' There were 916 ATMs facilitating around 20.22 lacs ATM/VISA Debit card holders.

' Bank has launched Biometric ATMs for the benefit of Biometric Card Holders.

FINANCIAL INCLUSION

As on 30th June 2012, Bank has covered 1703 villages having population more than 2000 where 665,554 accounts have been opened and 65,473 smart cards were issued.

NEW INITIATIVES

255 Ultra Small branches opened during the quarter.

2948 Self Help Groups formed.

52 new ATM’s (Onsite 11, Offsite 41) added during Q1 taking the total to 916 (Onsite 562, Offsite 354) as on 30.06.2012.

1,29,638 numbers of ATM/VISA Debit cards issued during Q1 taking the total cards issued as on 30.06.2012 to 20,22,381.

AWARDS AND ACCOLADES

Shri Arun Kaul, CMD of UCO Bank was chosen for the Thought Leaders Award (Banking & Finance) at the Institute of Public Enterprises BSFI awards organized by Asian Confederation of Business. Shri S C Dhole, GM(IT) of the Bank received the best CIO award for the year 2011-12 at the same programme held on 30th June 2012.