UCO Bank's Performance Highlights

PRESS RELEASE Kolkata

05 May 2012

Global business crosses Rs.2.71 lac crore
Net Profit for FY2011-12 surges 22.3% YoY to reach Rs.1109 crore

• Global Business of the Bank registered a YoY growth of 10.44% during the FY’12 to reach Rs. 2, 71,508 crore as on 31.03.2012 (Rs. 2, 45,839 crore as on 31.03.2011).
• The total deposit of the bank rose by 6.01% YoY to reach Rs. 1, 54,003 crore as on 31.03.2012 (Rs. 1,45,278 crore as on 31.03.2011).
• The advances of the bank rose sharply by 16.85% to reach Rs. 1,17,504 crores on 31.03.2012 as against Rs. 1,00,561 crore on 31.03.2011.

PERFORMANCE : Q4 FY’12 versus Q4 FY’11

•        Operating profit of the bank during Q4 FY’12 surged 25.30% to reach Rs. 728 crores (Rs. 581 crore).

•        Net profit rose by 11.45% to reach Rs. 253 crores in Q4 FY’12  as against Rs. 227 crores in corresponding period last year.

•        Profit for the qtr  would have been more but for higher NPA provision of Rs. 379 crore in Q4FY’12 against Rs.94 crore in Q4FY’11 and 28% increase in employee benefit during Q4 FY’12 to Rs. 169 crore (Rs. 132 crore).

•        Net Interest Income rose sharply by 24.40% (QoQ) to Rs. 1050 crores in Q4 FY’12 against Rs. 844 crores in the same period previous  year.

•        During the quarter Net Interest Margin(annualized) reached 2.71% (2.35%).

•        Average Cost of deposit (annualized) during Q4 FY’12 stood at 7.47% against 6.34% in Q4 FY11, i.e. an increase by 113 bps.

Average Yield on Advances during Q4 FY’12 was 11.30% against 9.86% in Q4 FY11. i.e. an increase by 144 bps.

PERFORMANCE : FY’12 versus  FY’11

•        Operating profit of the bank during FY’12 rose by 4.32% YoY to reach     Rs. 2,811 crores (Rs. 2,695 crore).

•        Net profit rose sharply by 22.30% to reach Rs. 1,109 crores in FY’12 as against  Rs. 907 crores in FY11.

•        Net Interest Income moved up by 1.49% to Rs. 3902 crores in FY’12 against Rs. 3,845 crores in FY’11.

•        The Cost to Income ratio came down to 42.24% during the current financial year from 43.51% last year.

•        Average Cost of deposit for FY’12 stood at 7.30% against 5.74% in FY11.

•        Average Yield on Advances during FY’12 was 11.28% against 10.00% in FY11.

•        Our CASA deposit rose 7% YoY to reach Rs. 33,867 crores as on 31.03.2012 (Rs. 31,652 crores). The share of CASA percentage against domestic deposit stood at 23.85% in March’12 against 23.20% in March’11.

•        Credit Deposit Ratio stood at 76.30 % as on Mar’12 against 69.22% as on Mar’11.

•        Global Net Interest Margin (annualized) was 2.77% during FY’12. The domestic  NIM stood at 2.95%.

•        GNPA ratio stood at 3.48 % on 31.03.12 against 3.13% on 31.03.11. However GNPA stood at 3.50% as on June’11, 3.64% as on Sept’11 and 3.49% as on Dec’11. Thus, after reaching 3.64% in Sep’11, it has now come down to 3.48%.

•        NNPA ratio stood at 1.96% on 31.03.12 against 1.84% on 31.03.11. However NNPA stood at 2.15% as on June’11, 2.11% as on Sept’11 and 2.04% as on Dec’11. Thus, after reaching 2.15% in Jun’11, it has now come down to 1.96%.

•        Book value of share (annualized) has reached Rs.94.72 on 31.3.12 from Rs. 83.16 as on 31.03.11 registering YoY growth of 13.90%.

•        Earning per share (annualized) improved to Rs. 15.02 on 31.03.12. from Rs. 14.29 on 31.3.11 registering YoY growth of 5.11%.

•        CAR of the bank was comfortable at 12.35 % under BASEL-II (Tier-I Capital: 8.09%; Tier-II Capital: 4.26%).

Other income rose by 4.43 % to reach Rs. 966 crore for the FY’12 against Rs. 925 crore in FY’11. Profit on sale of investments during FY’12 at Rs. 196 crore improved by 115% over last year which was Rs. 91 crore.

MAJOR INITIATIVES

Technology Initiatives

•        Online payment of Custom Duty has been implemented for e-Banking users.

•        Facility of PPF deposits at any authorized branch anywhere in India implemented.

•        All RRB Branches are on CBS platform and NEFT/RTGS enabled.

•        Central Electronic Registry of Securitisation Asset Reconstruction and Security Interest (CERSAI)  facility made available to branches.

Financial Inclusion  Initiatives

•        1.20 lacs accounts opened through ICT based FI project & 45,000 Smart Cards issued so far to beneficiaries.

•        Opened 62 Ultra Small branches with CBS connectivity.

Business Development Initiatives

Major Process Changes:

•        130 Branches opened in Q4FY’12 taking total branches opened in FY’12 to  188.

•        Opened 13 new Retail Loan Hubs taking the total RLHs to 39.

•        Opened 4 new City Back Offices during FY 2011-12 taking total CBOs  to 76 that cover 867 branches of the Bank

•        Opened 12 SME Loan Hubs during FY 2011-12

Organizational Changes:

•        2 new Circle Offices opened at Patna & Guwahati taking the total to 10.

•        5 new Zonal Offices opened taking the total to 40.

New Liability Products introduced:

•        UCO Vasantha Bonanza – Term Deposit for 100 days @ 9%

•        UCO Sowbhagya Scheme – A variable RD Scheme

•        UCO Suvidha Salary Account – Introduced at all Zones

New Asset Products introduced:

•        UCO Gold Loan Scheme – for financing Retail Asset Product under both Priority & Non-Priority Sectors

Customer Centric Initiatives

•        To boost Retail business, interest rates were reduced on UCO Home and Car loans.

•        Acquired 5.47 lacs CASA Customers in Q4’12 taking the total number of CASA customers acquired in FY’12 to 18.53 lacs.

•        114 ATMs installed in Q4 FY’12 taking the total for FY’12 to 256.

•        VISA Debit Cards issued in Q4 FY’12 was 1.56 lacs and during the whole FY’12  5.62 lacs.

•        Launched Personalized UCO Visa Debit Card – Gold, Platinum & Signature.

•        Permission to open ECCS Clearing Centre at Mecheda received from RBI.

•        E-payment of State Govt. taxes implemented for Maharashtra, UP and West Bengal

•        Payment of Salary of WB. Govt. employees through ECS implemented

•        Registration for New Pension Scheme obtained from Pension Fund Regulatory and Development Authority

•        2568 recovery camps organized in Q4FY12 taking total for the year to 7117.

Socio-economic Initiatives

•        8 Agri Credit Camps organized in Q4FY12 taking total such camps to 20 in the FY.

•        MOU signed with National Collateral Management Services Ltd. for financing Farmers against their Storage Receipts

•        New Scheme for Financing Arthias introduced for increasing lending under Indirect Finance to Agriculture.

HR Initiatives

During the Financial year 755 officers comprising MBAs, IT officers and  probationary officers were recruited. 866 clerks were also recruited during the financial year. 

THINKS!!!!