UCOBANK

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 NET PROFIT 6.39 BILLION RUPEES

• Q3 GROSS NPA 2.91%

• Q3 INTEREST EARNED 62.2 BILLION RUPEES

• Q3 PROVISIONS AND CONTINGENCIES 5.90 BILLION RUPEES

• Q3 PROVISIONS FOR NPA 2.63 BILLION RUPEES

Source text: ID:nBSE5KDS8H

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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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.

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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** Shares of UCO Bank UCBK.NS rise about 2% to 46.50 rupees

** Lender reports a 50% jump in Sept-qtr net profit to 6.03 billion rupees ($71.8 million) on higher interest income

** Gross non-performing assets as percentage of total loans improved to 3.18% from 3.32% in the previous qtr

** Stock only gainer today in the 12-member Nifty PSU index .NIFTYPSU

** Busiest session for UCBK since early Aug; more than 14.3 mln shares change hands, over three times the 30-day avg

** Stock up ~17% YTD vs ~16 gain in PSU index

($1 = 84.0380 Indian rupees)

(Reporting by Dimpal Gulwani in Bengaluru)

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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

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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

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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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July 22 (Reuters) - UCO Bank UCBK.NS:

• UCO BANK Q1 NET PROFIT 5.51 BILLION RUPEES

• UCO BANK Q1 GROSS NPA 3.32%

• UCO BANK Q1 INTEREST EARNED 60.24 BILLION RUPEES

• UCO BANK Q1 PROVISIONS AND CONTINGENCIES 4.59 BILLION RUPEES

• UCO BANK Q1 NET NPA 0.78%

• UCO BANK Q1 PROVISIONS FOR NPA 3.97 BILLION RUPEES

Further company coverage: UCBK.NS

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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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April 29 (Reuters) - UCO Bank UCBK.NS:

• UCO BANK - APPROVED EQUITY CAPITAL RAISING PLAN VIA ISSUE OF 4 BILLION SHARES

Source text for Eikon: [ID:]

Further company coverage: UCBK.NS

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

• UCO BANK - TOTAL ADVANCES AS ON MARCH END UP 15.92% Y/Y

• UCO BANK - TOTAL DEPOSIT UP 5.53% Y/Y AS OF MARCH-END

Source text for Eikon: [ID:]

Further company coverage: UCBK.NS

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

• UCO BANK - NEWS REPORT DOES NOT CONTAIN ANY NEW MATERIAL INFORMATION NOT DISCLOSED BY BANK EARLIER

Source text for Eikon: ID:nBSE5wS45k

Further company coverage: UCBK.NS

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** Shares of UCO Bank UCBK.NS fall 3% to 41.4 rupees

** The lender reported a ~23% fall in Q3 net profit to 5.03 bln rupees ($60.5 mln), its second straight qtr of profit fall

** Its net interest margin (NIM) contracted to 3.02% from 3.18% a year ago

** Says gross NPA and net NPA fell sequentially

** UCBK among top losers on Nifty SmallCap 50 Index .NISM50

** Stock fell ~9% in Q3, its biggest quarterly drop since March-qtr 2023

($1 = 83.1100 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru)

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

• UCO BANK Q3 NET PROFIT 5.03 BILLION RUPEES VERSUS 6.53 BILLION RUPEES

• UCO BANK Q3 GROSS NPA 3.85% VERSUS 4.14% PREV QUARTER

• UCO BANK Q3 INTEREST EARNED 55.52 BILLION RUPEES VERSUS 46.27 BILLION RUPEES

• UCO BANK Q3 PROVISIONS AND CONTINGENCIES 3.42 BILLION RUPEES VERSUS 3.32 BILLION RUPEES

• UCO BANK Q3 PROVISIONS FOR NPA 1.16 BILLION RUPEES VERSUS 2.20 BILLION RUPEES

• UCO BANK Q3 NET NPA 0.98% VERSUS 1.11% PREV QUARTER

Source text for Eikon: ID:nBSE5GxcC

Further company coverage: UCBK.NS

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

• REVISED ONE YEAR MCLR TO 8.80% FROM 8.75%

Source text for Eikon: [ID:]

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Corrects headline to say Indian lawmakers not lawyers

By Sarita Chaganti Singh and Nikunj Ohri

Dec 17 (Reuters) - A committee of Indian lawmakers will hold discussions with four government-owned banks early next year under banking laws which among other things govern mergers and acquisitions, according to a government document.

The meeting will also include “informal discussions” with India’s central bank over the law governing its functioning and regulatory supervision, besides separate deliberations with five insurance companies over the country’s insurance laws, said the document.

Informal discussions will be held with representatives of UCO Bank UCBK.NS and Union Bank of India UNBK.NS on January 2, 2024 and between Bank of Maharashtra BMBK.NS and Bank of India BOI.NS on January 6, 2024 in western cities of Mumbai and Goa, said the document issued on Nov. 16.

It did not specify reasons for the talks.

A meeting with Insurance Regulatory and Development Authority of India, Life Insurance Corporation LIFI.NS, SBI Life Insurance SBIL.NS, National Insurance Co, Oriental Insurance and the New India Assurance Co THEE.NS is also proposed on Jan. 2.

Two Indian finance ministry sources, who spoke on condition of anonymity, told Reuters that no proposal to merge the public sector banks is being considered by the government and that the discussions were part of ‘routine exercise.’ An email sent to the country’s federal finance ministry remained unanswered.

Indian government, in 2019, announced the merger of 10 state-owned banks into four lenders.

Government owned banks still account for over 60% of India’s banking system by assets and deposits.

(Reporting by Dhwani Pandya; Editing by Michael Perry)

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UCO Bank UCBK.NS:

• UCO BANK- ONE YEAR MCLR AT 8.75%, EFFECTIVE DEC 10

Source text for Eikon: ID:nNSEPcc5V

Further company coverage: UCBK.NS

Nov 22 (Reuters) - UCO Bank UCBK.NS:

• UCO BANK - MCLR, REPO LINKED RATE, BASE RATE AND BPLR REMAIN UNCHANGED

Source text for Eikon: [ID:]

Further company coverage: UCBK.NS

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Nov 16 (Reuters) - UCO Bank UCBK.NS:

• RECOVER AROUND 6.49 BILLION RUPEES OUT OF 8.20 BILLION RUPEES FROM BLOCKED RECIPIENTS' ACCOUNTS

Source text for Eikon: ID:nBSE1RVThY

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Nov 15 (Reuters) - UCO Bank UCBK.NS:

• HAS MADE IMPS CHANNEL OFFLINE

• FINANCIAL IMPACT, IF ANY, DUE TO IMPS TECHNICAL ISSUE IS YET TO BE ASCERTAINED

• ALL OTHER CRITICAL SYSTEMS ARE OPERATIONAL AND AVAILABLE

Source text for Eikon: ID:nBSE4xZGks

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

• REVIEWED THE BENCHMARK RATES AND DECIDED FOR KEEPING ALL THE BENCHMARK RATES UNCHANGED

Source text for Eikon: ID:nBSE8bbC7c

Further company coverage: UCBK.NS

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

• UCO BANK ONE-YEAR MCLR UNCHANGED AT 8.70%

Source text for Eikon: ID:nNSE4dPgWW

Further company coverage: UCBK.NS

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