UCO Bank registers 99.12% growth

Kolkata, Oct 30, 2010 (Calcutta Tube/IBNS) Nationalized UCO Bank has registered a 99.12% growth of operating profit at Rs.1350 crore in the second quarter of the 2010-11 financial year.

The operating profit grew at 91.58 % on year-on year basis. Global business of the bank now stands at Rs. 2,07,178 crore, registering a growth of 20.62%.

These results were declared by Arun Kaul, Chairman cum Managing Director of the bank at a press conference here on Friday.

The bank has started a new project ‘Personalised Banking Branches’ through setting up of 218 dedicated branches throughout the country. Besides, the bank has also launched a new product for salaried employees in the name of ‘UCO Suvidha Salary Account’.

During the second quarter of the current fiscal year, the bank has taken several initiatives particularly in the areas of CASA, retail business, technology, human resource development especially recruitment, face lifting of branches etc., Kaul said.

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