Q1 2025 UCO Bank Earnings Call Transcript
Key Points
- Total business grew by 11.46%, with deposits increasing by 7.39% and advances by 17.64%.
- Retail advances saw a significant growth of 21.84% YoY, supported by home loans (20.37%), vehicle loans (33.33%), and agriculture loans (19.64%).
- Gross NPA reduced to 3.32%, a decrease of 116 bps YoY, and Net NPA decreased to 0.78%, a 40 bps improvement.
- Net interest income grew by 12.2% YoY and 3.05% QoQ, with domestic NIM improving by 26 bps to 3.29% YoY.
- Net profit increased by 147% YoY to INR551 crores, and CRAR improved by 24 bps to 17.09% YoY.
- Provision for NPAs remains a concern, with fresh additions in slippages amounting to INR479 crores.
- The SMA portfolio more than INR1 crore stands at INR700 crores, which is 0.36% of total standard advances.
- The cost of deposit has only slightly reduced over the last six months, indicating potential challenges in managing deposit costs.
- The bank's CASA ratio, although improved, is still below the industry benchmark at 38.62%.
- The yield on advances declined sharply on a QoQ basis due to the absence of a significant recovery from written-off accounts in the previous quarter.
Good afternoon, ladies and gentlemen, and thank you for joining us for the post result conference call of UCO Bank for 1QFY25. It is my pleasure to introduce to you the senior management of UCO Bank. With us, we have Mr. Ashwani Kumar, MD & CEO; Mr. Rajendra Kumar Saboo, Executive Director; and Mr. Vijay N. Kamble, Executive Director. We'll start the concall by opening remarks from MD sir and post which we'll open the floor for any Q&A. So, over to you MD sir, and thank you.
Thank you. I welcome all our analysts and investors to this post result conference call for the quarter one '24, '25. Along with me, to my right, is Mr. Saboo, our Executive Director; and Mr. Kamble, our Executive Director; our all-top management team including our verticals and corporate GMs are there to interact with you.
Let me just give you a brief background of our results and how we performed and what are the initiative bank is taking and then we'll be taking up the question and answer also from you.
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