Q2 2026 UCO Bank Earnings Call Transcript
Key Points
- UCO Bank (BOM:532505) reported a business growth of 13.2% with deposit growth at 10.85% and credit growth at 16.56%.
- The bank's CASA ratio remained strong at 38.11%, maintaining a consistent range of 37% to 38% over the past three years.
- Operating profit increased by 10% to INR 1,613 crores, with net profit growing by 3% year-over-year to INR 620 crores.
- Asset quality improved with gross NPA reducing by 62 bps to 2.56% and net NPA reducing by 30 bps to 2.43%.
- The bank's capital adequacy ratio stood strong at 17.89% with a Tier 1 capital of 15.9%.
- Credit growth in the first half of FY26 was slower, with a need to sanction and disburse INR 30,000 crores more to meet the annual target.
- Non-interest income faced pressure due to a decline in treasury income and lower recovery from written-off accounts.
- The bank's corporate book saw a decline of INR 4,000 crores due to yield pressure and competition from other banks.
- The slippage ratio for the quarter was 0.26%, with significant slippages from the agriculture sector.
- The bank has a substantial outstanding stock of written-off accounts, with a technical write-off portfolio of INR 26,000 crores.
Good afternoon, everyone. Welcome to UCO Bank Q2 FY26 Earnings Conference Call. It is my pleasure to introduce to you the senior management of UCO Bank. We have with us today, Mr. Ashwani Kumar, MD and CEO; Mr. Rajendra Kumar Saboo, Executive Director; Mr. Vijay N. Kamble, executive Director; and other management and from UCO Bank. We will have the opening remarks from the MB service. Both of which, we will be open to your questions. Over to you, sir.
Thank you. I welcome you all analysts and investors to this post September quarterly results of UCO Bank. Along with me, I have our EDs, Mr. Saboo and Mr. Kamble, top management team, including CFO, CRO and all other executives.
First of all, I welcome you all to this analyst meet. Just to give you about the brief of the bank performance in this quarter and half year ended September 25. Business of the bank grew by 13.2% of which deposit growth was 10.85%, and credit growth was 16.56%. Deposit CASA grew by 9.53% and
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