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PRESS RELEASE The financial results for the fourth quarter and the FY ending Mar’09 were adopted and approved by the Board of Directors of the Bank in its meeting held on 08th May 2009 in Kolkata. Business Performance The global business of the Bank grew by 25.34% or by Rs.34,354 crore in absolute terms on y-o-y basis and stood at Rs.1,69,890 crore as at 31.03.09. The global deposit and advances of the Bank registered growths of 25.42% (Rs.20,312 crore in absolute terms) and 25.24% (Rs.14,042 crore in absolute trems) respectively compared to last FY. The domestic deposits & advances of the Bank grew by 25.64% & 25.21% respectively on Y-o-Y basis. The deposits & advances stood at Rs.93,213 crore & Rs. 64,020 crore respectively as on 31.03.09. During the year UCO Bank has exceeded all its commitments to the Govt .of India in all spheres of its activity including PS lending, Advances to Weaker & SME sections and Total Business. Profit On a y-o-y basis the net profit from our Global operations registered a growth of 35.44% and stood at Rs.558 crore (Rs.412 crore) on the back of 25% growth in interest income & 32% growth in other income. The domestic operation contributed Rs.466 crore to the net profit & rest came from overseas operations. For the 4th qtr., domestic operations generated a 24% growth in Net Profit over corresponding qtr. last year. The net profit from domestic operations for the qtr. stood at Rs.103 crore (Rs.83 crore). Priority Sector Advances The Priority Sector Advances of the Bank stood at Rs.25,232 crore as on 31st Mar’09 (Rs.20,452 crore) showing a growth of 23.37% over last year. The PS Advances to Total Advances [ANBC] stood at 50.69% at the end of current FY as against 47.03% in last FY. The agriculture credit figure on 31.3.09 stood at Rs.11,239 crore as against Rs.7,948 crore at end of last FY and thereby registered a growth of 41%. The advances to SME sector registered a 34% growth on a Y-o-Y basis and stood at Rs.8963 crore(Rs.6710 crore) as at 31st Mar’09. Recovery Our recovery performance during the FY has been really note-worthy. Both our Gross NPA & Net NPA figures showed declining trends. While GNPA closing balance at Rs. 1540 crore decreased by 7% , the NNPA closing balance at Rs.813 crore decreased by 25% over last FY. The GNPA ratio & NNPA ratio stood at 2.21%(2.97%) and 1.18%(1.98%) respectively as on 31st Mar’09. The recovery from w/o accounts during the year was Rs.78 crore(Rs.66 crore). FUTURE STRATEGIES The Bank looks to the future with confidence with clear-cut strategies in place. During the year ahead we shall focus on low cost deposits, ensure better asset quality, leverage technology to the maximum to serve customers better and keep a focused vigil on NPA. The goal is to maximize profits & strengthen our balance sheet in our pursuit to become one of the top 5 banks in the country. Place: Kolkata
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