In an effort to increase its footprint and revenue, state-owned UCO Bank intends to open 150 more branches over the course of the next five months.
With the addition of 150 branches, the lender with its headquarters in Kolkata will have 3,472 branches nationwide by the end of the current fiscal year.
Key Highlights
- UCO Bank plans to add 150 new branches by March, expanding its network to 3,472 locations.
- The bank will hire more skilled staff in IT, digital and cybersecurity as it rolls out the branch expansion.
Following the approval of second quarter numbers, Ashwani Kumar, MD and CEO of UCO Bank, stated during a call that the board had approved the opening of 150 additional branches by March.
He stated that the bank is working to improve the atmosphere of the branches and that more qualified personnel will be hired for the IT, digital, and cyber security departments.
As of September 2025, the bank employed 21,266 people, 70% of whom were younger than the average age of 70.
UCO Bank's net profit for the second quarter ended September 30, 2025, increased by 3% to Rs 620 crore from Rs 603 crore during the same period last year.
During the reviewed quarter, total revenue increased from Rs 7,071 crore to Rs 7,421 crore. In the same quarter last year, the lender's interest income climbed from Rs 6,078 crore to Rs 6,537 crore.
In the second quarter of FY25, its net interest income (NII) increased from Rs 2,301 crore to Rs 2,533 crore. The bank's operating profit during that time climbed to Rs 1,613 crore from Rs 1,432 crore in the same quarter last year.
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Gross non-performing assets (NPAs) decreased from 3.18 percent of gross advances a year ago to 2.56% at the end of the September quarter, indicating an improvement in the bank's asset quality.
Likewise, net non-performing assets (NPAs), or bad loans, decreased to 0.43 percent from 0.73 percent during the same period last year.
