UCO Bank
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Corporate/Wholesale Banking: 36.9% • Other Retail Banking-Retail Banking: 35.9% • Treasury: 27.0%
AI Sector View
AI GENERATEDFinancial Services
Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.
PROS
- Company has delivered good profit growth of 75.3% CAGR over last 5 years
- Comfortable capital adequacy - CAR of 18.6%
- Strong provisioning - provision coverage ratio of 97.8%
- Healthy loan book growth of 19.8% with stable asset quality
- Stock looks reasonably valued - P/E of 10.7 is below its historical median
- Company generates healthy free cash flow
CONS
- A large part of profit comes from other income (79.1% of PBT)
- Weak return ratios for a lender: 3Y avg ROA 0.7%
- Growth is decelerating - 3Y profit CAGR (14.1%) trails the 5Y trend (75.3%)
- Company's return on assets is weak at 0.7%
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| SBIN | 997.00 | 10.68 | 920292.57 | 1.74 | 24579.04 | 13.65 | 136240.49 | 8.36 | 12.16 | 52.34 |
| UNIONBANK | 178.00 | 6.58 | 135878.18 | 2.81 | 5368.17 | 29.77 | 27427.10 | 1.21 | 14.57 | 69.42 |
| PNB | 116.65 | 6.07 | 134065.18 | 2.57 | 5339.15 | 191.40 | 33589.17 | 3.12 | 13.26 | 75.40 |
| BANKBARODA | 237.80 | 6.77 | 122974.99 | 3.57 | 1572.59 | -53.08 | 35114.52 | 6.84 | 11.20 | 33.10 |
| INDIANB | 852.90 | 8.99 | 114882.56 | 2.14 | 3299.48 | 48.73 | 18095.14 | 11.11 | 16.28 | 67.14 |
| CANBK | 123.90 | 5.66 | 112385.37 | 3.39 | 4864.08 | 61.96 | 32957.16 | 4.55 | 14.46 | 68.47 |
| MAHABANK | 84.17 | 8.59 | 64739.82 | 2.61 | 2020.54 | 26.83 | 8034.65 | 13.90 | 16.53 | 68.61 |
| IOB | 33.13 | 10.71 | 63797.08 | 0.00 | 1659.24 | 49.25 | 8777.57 | 18.82 | 11.31 | 54.56 |
| BANKINDIA | 139.80 | 5.40 | 63646.30 | 3.33 | 3138.46 | 77.92 | 20096.90 | 8.83 | 10.97 | 73.18 |
| UCOBANK | 23.98 | 12.18 | 30069.86 | 1.83 | 652.43 | 24.09 | 6744.59 | 15.10 | 11.00 | 54.71 |
| CENTRALBK | 30.75 | 6.10 | 27833.06 | 3.90 | 1328.95 | 5.43 | 9725.90 | 12.79 | 8.27 | 67.83 |
| PSB | 22.78 | 11.68 | 16163.74 | 1.71 | 331.51 | 23.16 | 3213.37 | 10.40 | 9.07 | 71.38 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 5,224 | 5,219 | 5,552 | 5,860 | 6,024 | 6,078 | 6,220 | 6,745 | 6,436 | 6,537 | 6,652 | 6,656 | 6,996 | |
| Interest Expended | 3,215 | 3,302 | 3,564 | 3,672 | 3,770 | 3,778 | 3,842 | 4,046 | 4,033 | 4,004 | 4,006 | 4,042 | 4,188 |
| Net Interest Income | 2,009 | 1,917 | 1,988 | 2,187 | 2,254 | 2,300 | 2,378 | 2,698 | 2,403 | 2,533 | 2,646 | 2,614 | 2,808 |
| 633 | 647 | 861 | 1,125 | 835 | 993 | 1,186 | 1,392 | 997 | 884 | 869 | 709 | 1,686 | |
| Total Income | 0 | 0 | 0 | 0 | 6,859 | 7,071 | 7,406 | 8,137 | 0 | 0 | 0 | 0 | 8,682 |
| Operating Expenses | 1,439 | 1,581 | 1,730 | 2,039 | 1,768 | 1,862 | 1,978 | 2,392 | 1,838 | 1,804 | 1,835 | 1,750 | 1,685 |
| Operating Profit | 1,202 | 982 | 1,119 | 1,273 | 1,321 | 1,432 | 1,586 | 1,699 | 1,562 | 1,613 | 1,680 | 1,573 | 2,810 |
| Provisions & Contingencies | 856 | 342 | 342 | 467 | 459 | 493 | 590 | 663 | 616 | 588 | 525 | 326 | 235 |
| Profit before Tax | 347 | 640 | 777 | 806 | 862 | 939 | 996 | 1,036 | 946 | 1,025 | 1,155 | 1,247 | 2,575 |
| Tax % | 35.53% | 37.22% | 35.28% | 34.73% | 36.12% | 35.79% | 35.87% | 37.03% | 35.80% | 39.54% | 35.98% | 35.76% | 74.51% |
| Net Profit | 223 | 402 | 503 | 526 | 551 | 603 | 639 | 652 | 607 | 620 | 740 | 801 | 656 |
| EPS | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 0 | 0 | 1 | 1 | 0 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 21,854 | 25,067 | 26,281 | — | |
| Interest Expended | 12,509 | 10,895 | 10,019 | 10,042 | 8,966 | 8,508 | 10,307 | 13,754 | 15,437 | 16,085 | 16,240 |
| Net Interest Income | -12,509 | -10,895 | -10,019 | -10,042 | -8,966 | -8,508 | -10,307 | 8,101 | 9,630 | 10,196 | — |
| 2,114 | 1,121 | 1,514 | 2,871 | 3,424 | 3,101 | 2,508 | 3,266 | 4,407 | 3,460 | 4,149 | |
| Total Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 25,120 | 29,474 | 29,741 | 8,682 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6,790 | 7,999 | 7,227 | — | |
| Operating Profit | -12,509 | -10,895 | -10,019 | -10,042 | -8,966 | -8,508 | -10,307 | 4,576 | 6,037 | 6,429 | — |
| -118 | 522 | 204 | 335 | 440 | 210 | 324 | 2,007 | 2,204 | 2,055 | — | |
| Profit before Tax | -2,690 | -6,891 | -7,065 | -3,713 | -75 | 1,750 | 2,905 | 2,569 | 3,834 | 4,373 | 6,002 |
| Tax % | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | 0.00% | 0.00% | 35.62% | 36.22% | 36.71% | 53.07% |
| Net Profit | -1,851 | -4,436 | -4,321 | -2,437 | 167 | 930 | 1,862 | 1,654 | 2,445 | 2,768 | 2,817 |
| EPS | -13 | -25 | -12 | -3 | 0 | 1 | 2 | 1 | 2 | 2 | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 4%
- 5 Years:
- 13%
- 3 Years:
- 14%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- 75%
- 3 Years:
- 14%
STOCK PRICE CAGR
- 10 Years:
- -5%
- 5 Years:
- 11%
- 3 Years:
- -11%
- 1 Year:
- -18%
RETURN ON EQUITY
- 10 Years:
- -10%
- 5 Years:
- 8%
- 3 Years:
- 9%
- Last Year:
- 10%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 1,560 | 2,308 | 5,423 | 9,918 | 9,918 | 11,956 | 11,956 | 11,956 | 12,540 | 12,540 |
| 10,044 | 7,517 | 8,371 | 9,291 | 10,088 | 11,638 | 13,809 | 15,401 | 18,465 | 20,710 | |
| 2,01,285 | 1,81,849 | 1,97,907 | 1,93,203 | 2,05,919 | 2,24,073 | 2,49,338 | 2,63,130 | 2,93,542 | 3,27,563 | |
| 9,535 | 12,449 | 8,324 | 15,695 | 15,383 | 13,508 | 20,501 | 25,331 | 28,687 | 23,310 | |
| Other Liabilities & Provisions | 7,767 | 6,800 | 6,863 | 7,800 | 9,428 | 6,609 | 5,260 | 7,873 | 9,247 | 11,737 |
| Total Liabilities | 2,31,340 | 2,16,056 | 2,30,484 | 2,35,908 | 2,53,336 | 2,67,784 | 3,00,863 | 32 | 36 | 40 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 8,790 | 8,125 | 8,823 | 6,777 | 9,445 | 10,288 | 10,300 | 10,197 | 10,359 | 10,405 | |
| Balances with Banks & Money at Call | 9,310 | 6,623 | 15,609 | 11,029 | 14,155 | 15,860 | 18,428 | 18,828 | 25,768 | 13,479 |
| 74,019 | 70,962 | 82,232 | 90,999 | 93,783 | 96,874 | 95,169 | 92,904 | 94,272 | 98,777 | |
| 1,19,724 | 1,07,470 | 99,314 | 1,01,174 | 1,11,355 | 1,22,784 | 1,55,870 | 1,82,022 | 2,15,135 | 2,57,763 | |
| 2,843 | 2,867 | 2,814 | 2,832 | 3,151 | 3,287 | 3,444 | 3,717 | 3,791 | 4,126 | |
| 16,647 | 20,001 | 21,684 | 23,089 | 21,380 | 18,643 | 17,586 | 15,958 | 13,095 | 11,233 | |
| Total Assets | 2,31,340 | 2,16,056 | 2,30,484 | 2,35,908 | 2,53,336 | 2,67,784 | 3,00,863 | 32 | 36 | 40 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -3,852 | -9,082 | 4,190 | -10,658 | 2,422 | 4,399 | 2,983 | 1,002 | 1,913 | -10,584 | |
| Cash from Investing | -125 | -85 | -14 | -113 | -155 | -200 | -267 | -295 | -328 | -419 |
| Cash from Financing | 3,609 | 5,754 | 5,450 | 4,283 | 3,266 | -1,637 | -336 | -430 | 5,869 | -977 |
| -367 | -3,413 | 9,626 | -6,489 | 5,533 | 2,562 | 2,380 | 277 | 7,454 | -11,981 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | ||||||||||
| EPS (₹) | -11.87 | -19.22 | -7.97 | -2.46 | 0.17 | 0.78 | 1.56 | 1.38 | 1.95 | 2.21 |
| Book Value (₹) | 59.49 | 32.38 | 21.10 | 17.00 | 17.46 | 17.45 | 19.20 | 20.37 | 22.30 | 24.00 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.28 | 0.39 | 0.44 |
| PROFITABILITY | ||||||||||
| Net Interest Margin % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 2.67% | 2.79% | 2.68% |
| ROA % | -0.78% | -1.98% | -1.94% | -1.04% | 0.07% | 0.36% | 0.66% | 0.53% | 0.71% | 0.73% |
| ROE % | -20.01% | -52.97% | -45.68% | -17.22% | 0.98% | 4.87% | 8.50% | 6.99% | 9.35% | 9.53% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 59.74% | 56.99% | 52.92% | |
| ASSET QUALITY | ||||||||||
| Gross NPA % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 2.69% | 2.63% |
| Net NPA % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.50% | 0.45% |
| Provision Coverage % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 96.69% | 96.88% |
| Slippage Ratio % | — | — | — | — | — | — | — | — | — | — |
| BALANCE SHEET & LIQUIDITY | ||||||||||
| CASA % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 37.45% | 35.83% | 36.12% |
| Credit-Deposit Ratio % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.10% | 0.10% | 0.07% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 16.98% | 18.45% | 18.61% | |
| GROWTH & VALUATION | ||||||||||
| Net Profit Growth % | 33.89% | -139.72% | 2.60% | 43.61% | 106.85% | 456.63% | 100.30% | -11.20% | 47.85% | 13.21% |
| Book Value Growth % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 6.09% | 9.43% | 7.66% |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 37.75x | 18.33x | 10.17x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 2.56x | 1.60x | 0.94x |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.54% | 1.09% | 1.96% |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-10 - UCO Bank has informed the Exchange regarding 'Notice of Strike by UFBU'.
2026-09-07 - UCO Bank has informed the Exchange regarding 'Interest Rate Updates' effective from 07-Sept-2026
2026-08-25 - UCO Bank has informed the Exchange about Extension of Additional Charge of the post of Managing Director & Chief Executive Officer of UCO Bank
2026-08-24 - UCO Bank has informed the Exchange regarding Outcome of Board Meeting held on August 24, 2026
2026-08-13 - UCO Bank has informed the Exchange regarding Appointment of Manohar Lal Paliwal as Part- time Non-Official Director of the Bank w.e.f. August 12, 2026.
2026-08-07 - UCO Bank has informed the Exchange regarding 'Revision in Benchmark Rates'.
2026-08-05 - UCO Bank has informed the Exchange about Credit Rating
2026-07-30 - UCO Bank has informed the Exchange about Transcript
2026-07-27 - UCO Bank has informed the Exchange about new Rating assigned by Fitch Ratings
News
Recent coverage and analyst commentary for UCOBANK
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