UCO Bank reduces net losses

Ankur Bhattcharya

Kolkata, Feb 6: Kolkata based public sector Bank – UCO Bank – which has been on the Red for the past few years, has been able to reduce its Net losses from Rs 998.74 crores a year ago to Rs 960.17 crores by December last year.
However, during the same same period the Operating profits of the bank had gone up to RS 1210.52 crores from Rs 1057 crores at the end of the second quarter, said its MD and CEO S P Agarwal during a separate interaction here this evening.
Informing that they had received a government recapitalization fund of Rs 2142 crores only a few days ago, Agarwal reiterated his commitment to bring down the NPA margin to less than 6 per cent by Match next from 6.34 per cent now worth Rs 6199.65 crores.