New Delhi: State-owned UCO Bank today reported a marginal drop in its net loss at ₹998.74 crore for third quarter ended December 31, 2018, as bad loans and provisions ballooned. In value terms, the gross NPAs or bad loans stood at ₹31,121.79 crore as on December 31, 2018 as against ₹25,382.40 crore a year-ago. Value-wise, the net NPAs were ₹11,755.61 crore, lower than ₹11,923.45 crore last year. Thus, provisioning for bad loans during quarter ended December 2018 were hiked to ₹2,243.85 crore as against ₹1,682.40 crore a year earlier. The non-performing loan provisioning coverage ratio is 69.49 per cent as on December 31, 2018, UCO Bank said.

Source: Mint February 08, 2019 11:03 UTC