UCOBANK

Adds details in paragraphs 2-9

NEW DELHI, Sept 22 (Reuters) - The Indian government is planning to sell minority stakes in about half a dozen state-run companies, divestment secretary Arunish Chawla told television channel CNBC-TV18 on Monday.

Chawla did not disclose which companies will be considered for the sale of stakes, but Reuters has previously reported that India has plans to sell shares in five public sector banks including UCO BankUCBK.NS and Bank of MaharashtraBMBK.NS.

India also has to reduce its shareholding in the country's largest insurer, Life Insurance Corporation of India LIFI.NS, to meet the market regulator's minimum public shareholding norms.

Chawla said the government will make an initial public offering (IPO) of a state-run firm in the natural resources sector in the current financial year. The IPO could be of a state-run company or their subsidiaries, he added.

Chawla did not name the company, but ONGC ONGC.NS and NHPC NHPC.NS have been exploring listing of their green arms, ONGC Green Energy and NHPC Renewable Energy, respectively.

Minority stake sales and IPOs will help boost divestment proceeds for the government. India plans to raise 470 billion rupees through stake sales and asset monetisation in the current financial year through March 31, 2026.

India's receipts from dividends it receives from public sector companies would exceed its projected target, Chawla said. India has estimated 690 billion rupees ($7.83 billion) through dividends from state-run firms in the current financial year.

($1 = 88.1363 Indian rupees)

(Reporting by Nikunj Ohri, Editing by YP Rajesh & Shri Navaratnam)

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Aug 18 (Reuters) - Mahanagar Telephone Nigam Ltd (MTNL) MTNL.NS has defaulted on loan repayments worth 86.59 billion rupees ($990.48 million) to a group of seven public sector banks, the state-run telecom company said on Monday.

In July, MTNL had disclosed defaults of 85.85 billion rupees to the same lenders.

The default includes 77.94 billion rupees in principal and 8.65 billion rupees in overdue interest to lenders including Union Bank of India UNBK.NS, Bank of India BOI.NS, Punjab National Bank PNBK.NS and State Bank of India SBI.NS.

The debt-laden operator, which has long struggled with falling subscriber numbers, mounting losses and shrinking relevance in India’s highly competitive telecom market, has been surviving largely on government support and debt roll-overs.

MTNL’s total debt has risen to 345.77 billion rupees ($3.96 billion) as of July 31, from 344.84 billion rupees in June-end, which also includes sovereign-guaranteed bonds and loans from the Department Of Telecommunications.

($1 = 87.4225 Indian rupees)

(Reporting by Aleef Jahan in Bengaluru; Editing by Janane Venkatraman)

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Aug 7 (Reuters) - UCO Bank UCBK.NS:

• ONE YEAR MCLR RATE AT 8.95%, EFFECTIVE AUG 10

Source text: ID:nBSE182MYy

Further company coverage: UCBK.NS

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Aug 1 (Reuters) - Vakrangee Limited VAKR.NS:

• VORTEX SIGNS AGREEMENT WITH UCO BANK FOR 300 ATMS

• TOTAL CONTRACT VALUE 128.1 MILLION RUPEES

Source text: ID:nBSEbgjgSM

Further company coverage: VAKR.NS

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July 21 (Reuters) - UCO Bank UCBK.NS:

• UCO BANK - DOMESTIC NIM AT 3.18% FOR Q1

Source text: ID:nBSE582MLg

Further company coverage: UCBK.NS

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BENGALURU, July 15 (Reuters) - India's Mahanagar Telephone Nigam MTNL.NS has defaulted on loans totaling 85.85 billion rupees ($1 billion), the public-sector telecom firm said on Tuesday.

The loans were made by seven public sector, with Union Bank of India UNBK.NS and Indian Overseas Bank IOBK.NS having the biggest exposure, MTNL said in an exchange filing.

($1 = 85.8860 Indian rupees)

(Reporting by Nishit Navin; Editing by Anil D'Silva)

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Adds more details from source, background in paragraphs 3-4

July 9 (Reuters) - Indian state-owned banks will raise around 450 billion rupees ($5.25 billion) through qualified institutional placement (QIP) of shares in the 2025-26 financial year, a government source told reporters on Wednesday.

State Bank of India SBI.NS, the country's biggest lender by assets, will launch its QIP soon, the source said. The bank had in May approved raising 250 billion rupees in equity capital this year.

The government will also complete its stake sale in IDBI Bank by October and also plans to sell shares in UCO Bank, Bank of Maharashtra, Central Bank of India, Punjab & Sind Bank and Indian Overseas Bank in the financial year, the source added.

Prime Minister Narendra Modi's government laid out plans in this year's budget to raise 470 billion rupees through stake sales and asset monetisation.

India's finance ministry and SBI did not immediately respond to Reuters requests for comment outside office hours.

($1 = 85.6900 Indian rupees)

(Reporting by Nikunj Ohri in New Delhi; Writing by Chris Thomas; Editing by Shailesh Kuber)

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July 3 (Reuters) - UCO Bank UCBK.NS:

• TOTAL ADVANCES AS ON JUNE 30 UP 16.58% Y/Y

• TOTAL DEPOSIT AS ON JUNE 30 UP 11.57% Y/Y

Source text: ID:nBSE9LpRWF

Further company coverage: UCBK.NS

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June 6 (Reuters) - UCO Bank UCBK.NS:

• UCO BANK - ONE YEAR MCLR REVISED TO 9% EFFECTIVE 10.06.2025

Source text: ID:nNSE6gtPz1

Further company coverage: UCBK.NS

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April 9 (Reuters) - UCO Bank UCBK.NS:

• REVISES ONE YEAR MCLR TO 9.10%, WEF APRIL 10

Source text: [ID:]

Further company coverage: UCBK.NS

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March 27 (Reuters) - UCO Bank UCBK.NS:

• APPROVES CLOSURE OF QIP ISSUE PERIOD

Source text: ID:nBSE9DgGvj

Further company coverage: UCBK.NS

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March 24 (Reuters) - UCO Bank UCBK.NS:

• UCO BANK - SETS FLOOR PRICE FOR QIP AT 36.07 RUPEES PER EQUITY SHARE

• UCO BANK- APPROVED OPENING OF QIP ON MARCH 24

• UCO BANK - MAY OFFER DISCOUNT OF UP TO 5% FOR QIP

Source text: ID:nNSE7p6XTH

Further company coverage: UCBK.NS

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March 10 (Reuters) - UCO Bank UCBK.NS:

• UCO BANK - KEEPS 1YR MCLR UNCHANGED AT 9.1%

Source text: ID:nBSE4RLSJD

Further company coverage: UCBK.NS

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NEW DELHI, Feb 25 (Reuters) - India has invited bids to appoint merchant bankers and legal advisers to sell the government's minority shareholding in select public sector banks and financial companies.

The government is looking to undertake minority stake sales in state-run banks and financial firms through an offer for sale, according to a document published on Monday on the Department of Investment and Public Asset Management's website, which did not name the lenders.

The federal finance ministry is looking dilute minority shareholdings in Central Bank of India CBI.NS, Indian Overseas Bank IOBK.NS, UCO Bank UCBK.NS, and Punjab and Sind Bank PUNA.NS, Reuters reported in November.

The plan to lower the government’s stake in banks and financial companies is required to comply with public shareholding norms mandated by the markets regulator.

The Securities and Exchange Board of India requires companies to maintain a 25% public shareholding, but has exempted government-owned firms from meeting these norms till August 2026.

The Indian government owns more than 93% in Central Bank of India, 96.4% in Indian Overseas Bank, 95.4% in UCO Bank and 98.3% in Punjab and Sind Bank. It also owns an 80% stake in Bank of Maharashtra BMBK.NS.

In the past, public sector banks launched qualified institutional placements (QIP) to raise capital, which, in turn, reduced the government's stake in state-run banks.

Merchant bankers and legal advisers will be appointed for three years and are required to submit their bids by March 27, the document said.

India has ditched its ambitious privatisation plans and put on hold a majority stake sale in at least nine state-owned units after opposition from relevant ministries.

Instead, it is continuing with minority stake sales in state-run companies. As of February, the government mopped up 86.25 billion rupees ($993.2 million) via stake sales in the 2024-25 financial year.

($1 = 86.8420 Indian rupees)

(Reporting by Nikunj Ohri; Editing by Sonia Cheema)

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Jan 21 (Reuters) - UCO Bank UCBK.NS:

• Q3 NIM AT 3.17%

Source text: ID:nBSE5x3SVs

Further company coverage: UCBK.NS

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Jan 3 (Reuters) - UCO Bank UCBK.NS:

• UCO BANK - TOTAL ADVANCES UP 16.20% YOY AS OF DEC-END

• UCO BANK - TOTAL DEPOSIT UP 9.37% Y/Y AS OF DEC END

Source text: [ID:]

Further company coverage: UCBK.NS

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Dec 10 (Reuters) - UCO Bank UCBK.NS:

• UCO BANK REVISES ONE-YEAR MCLR TO 9.05%

Source text: [ID:]

Further company coverage: UCBK.NS

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Adds stock moves in paragraph 5

By Nikunj Ohri

NEW DELHI, Nov 19 (Reuters) - The Indian government is considering selling minority stakes in four state-run banks to comply with public shareholding norms mandated by the country's markets regulator, a government source told Reuters.

The finance ministry is likely to seek approval of the federal cabinet in the coming months to dilute the stake in Central Bank of India CBI.NS, Indian Overseas Bank IOBK.NS, UCO Bank UCBK.NS, and Punjab and Sind Bank PUNA.NS, the source said.

The Indian government owns more than 93% in Central Bank of India, 96.4% in Indian Overseas Bank, 95.4% in UCO Bank and 98.3% in Punjab and Sind Bank as of end-September, according to data on the BSE's website.

The plan under consideration is to sell the stake through an offer for sale in the open market, the source said.

Shares of the banks rose between 3% and 4% following the report.

The Securities and Exchange Board of India (SEBI) requires listed companies to maintain a 25% public shareholding, but has exempted government-owned firms from meeting these norms till August 2026.

The source did not comment on whether the government will be able to meet the regulator's deadline or whether it would seek a further extension.

The official said the timing and the quantum of the sale would be decided based on market conditions. The official did not want to be named as he is not authorised to speak to the media.

India's finance ministry did not immediately respond to a request for comment.

In the past, public sector banks have launched qualified institutional placements (QIP) to raise capital which has in turn lowered the government's stake in state-run banks.

Punjab National Bank raised 50 billion rupees through a QIP in September, while Bank of Maharashtra raised 35 billion rupees in October.

(Reporting by Nikunj Ohri; Editing by Varun H K)

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Nov 8 (Reuters) - UCO Bank UCBK.NS:

• UCO BANK - ONE-YEAR MCLR UNCHANGED AT 9%

Source text: ID:nBSE3wVcXD

Further company coverage: UCBK.NS

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Oct 21 (Reuters) - MAS Financial Services Ltd MASF.NS:

• PARTNERS WITH UCO BANK FOR CO-LENDING

• PARTNERSHIP WITH UCO BANK FOR LENDING TO MICRO, SMALL, MEDIUM ENTERPRISES

Source text for Eikon: ID:nBSEb6tTvj

Further company coverage: MASF.NS

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Oct 7 (Reuters) - UCO Bank UCBK.NS:

• UCO BANK - ONE YEAR MCLR AT 9.00% EFFECTIVE OCT 10

Source text for Eikon: ID:nBSE97pHyW

Further company coverage: UCBK.NS

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Oct 4 (Reuters) - UCO Bank UCBK.NS:

• UCO BANK - TOTAL ADVANCES UP 18.56% Y/Y AS OF SEPT END

• UCO BANK -TOTAL DEPOSIT AS ON SEPT END UP 10.84% Y/Y

Source text for Eikon: ID:nnAPN27KR2I

Further company coverage: UCBK.NS

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Sept 10 (Reuters) - UCO Bank UCBK.NS:

• ONE YEAR MCLR SET AT 9.00%, EFFECTIVE SEPT 11

Source text for Eikon: ID:nBSE7xzHxZ

Further company coverage: UCBK.NS

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Aug 9 (Reuters) - UCO Bank UCBK.NS:

• REVISES ONE-YEAR MCLR TO 8.95%, EFFECTIVE AUG 10

Source text for Eikon: ID:nNSE12k0gV

Further company coverage: UCBK.NS

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** Shares of UCO Bank UCBK.NS up 2.1% at 56.20 rupees

** Lender's Q1 net profit more than doubles on higher interest income

** Net non-performing assets as percentage of total loans improves to 0.78% from 0.89% prev qtr

** Stock was up ~0.7% before results

** UCBK up ~41% YTD, set for fourth straight annual gain

(Reporting by Kashish Tandon in Bengaluru)

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July 11 (Reuters) - UCO Bank UCBK.NS:

• REVISES ONE YEAR MCLR TO 8.9%, EFFECTIVE JULY 11

Further company coverage: UCBK.NS

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July 1 (Reuters) - UCO Bank UCBK.NS:

• UCO BANK - BANK HAS NO ROLE IN DECISION RELATING TO MERGER

• UCO BANK - BANK NOT RECEIVED ANY INFORMATION FROM GOVERNMENT ABOUT PUBLIC SECTOR BANKS MERGER

Source text for Eikon: ID:nBSEzrHrm

Further company coverage: UCBK.NS

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June 7 (Reuters) - UCO Bank UCBK.NS:

• UCO BANK - RAISES 1-YEAR MCLR RATE TO 8.9% FROM 8.85% EFFECTIVE JUNE 10

Source text for Eikon: ID:nNSE6Y0L8K

Further company coverage: UCBK.NS

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May 10 (Reuters) - UCO Bank UCBK.NS:

• UCO BANK ONE-YEAR MCLR REMAINS UNCHANGED AT 8.85%

Source text for Eikon: ID:nBSEbtNFDV

Further company coverage: UCBK.NS

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