UCO Bank's Financial Growth in Q3

UCO Bank has announced a robust annual growth for the quarter ending December 2024, with the lender’s total business escalating by 12.18% to Rs 4.88 lakh crore. Provisional figures submitted to the stock exchanges reveal a significant 16.20% increase in total advances, reaching Rs 2.08 lakh crore. This growth was primarily driven by an impressive 18.83% surge in domestic advances, now standing at Rs 1.83 lakh crore.

Deposits and CASA Ratio

Deposits also saw healthy growth, climbing 9.37% year-on-year to Rs 2.80 lakh crore. Domestic deposits rose by 7.29% to Rs 2.65 lakh crore, contributing to the overall performance. The bank’s current account savings account (CASA) ratio, a key indicator of a low-cost deposit base, remained stable at 37.96%, compared to 37.61% in December 2023.

Improvement in Credit-Deposit Ratio

Additionally, the credit-deposit (CD) ratio improved significantly, standing at 74.55% during the reporting quarter, up from 69.93% in the same period last year. This reflects better asset utilisation by the lender.