In a bid to clean up its balance-sheet, UCO Bank is planning to sell its 100 non-performing assets (NPAs) aggregating about Rs 1,900 crore. The public sector bank has invited bids for the sale from asset reconstruction companies, banks, financial institutions, eligible NBFCs. The bank has offered NPAs for sale on ‘Cash and Security Receipts Basis’. The sale is on ‘As is where is’ and ‘What is where is’ basis.
The bank has reported over three fold jump in its net profit at Rs 400.20 crore for the quarter ended September 30, 2013 as compared to Rs 103.71 crore for the same quarter in the previous year. Total income of the bank increased by 5.55% at Rs 4653.30 crore for quarter under review as compared to Rs 4408.55 crore for the quarter ended September 30, 2012.
Gross non-performing assets (NPAs) increased to 5.32% in the July-September quarter as against 4.88% in the same quarter previous year, meanwhile net NPAs has increased to 3.13%.
The bank has reported over three fold jump in its net profit at Rs 400.20 crore for the quarter ended September 30, 2013 as compared to Rs 103.71 crore for the same quarter in the previous year. Total income of the bank increased by 5.55% at Rs 4653.30 crore for quarter under review as compared to Rs 4408.55 crore for the quarter ended September 30, 2012.
Gross non-performing assets (NPAs) increased to 5.32% in the July-September quarter as against 4.88% in the same quarter previous year, meanwhile net NPAs has increased to 3.13%.
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