UCO Bank Q4 net up 177.83 pc at Rs 85.99 cr

New Delhi, May 5: Public-sector lender UCO Bank today said it has registered a 177.83 per cent increase in its net profit at Rs 85.99 crore for the quarter ended March 2008, against Rs 30.95 crore over the same period a year ago.

Total income has increased from Rs 1616.43 crore for the quarter ended March 2007 to Rs 2053.29 crore for the quarter ended March 2008, a jump of 27.02 per cent. The Kolkata-based Bank, formerly United Commercial Bank, has posted a 30.39 per cent hike in net profit at Rs 412.16 crore for the year ended March 2008, as compared to Rs 316.09 crore for the year ended March 2007.

Total income has increased from Rs 5760.48 crore for the year ended March 2007 to Rs 7280.69 crore for the year ended March 2008, thus clocking a 26.39 growth.

The Board of Directors at its meeting held today have recommended dividend of 10 per cent for the year 2007-08.

UNI