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Public sector lender UCO Bank on Thursday reported 26.76 per cent year-on-year growth in its net profit at ₹785.64 crore for the second quarter this fiscal, backed by around 16 per cent increase in operating profit.

The Kolkata-based lender had posted a net profit of ₹619.76 crore for the second quarter last fiscal.

The bank’s operating profit rose to ₹1872.36 crore for the second quarter of FY27 from ₹1613.20 crore for the corresponding period of FY26. Net interest income (NII) grew by 13.96 per cent on a y-o-y basis to ₹2886 crore for Q2 FY27 as against ₹2533 crore for Q2 FY26.

Net interest margin on a global basis held at 3.00 per cent compared with 2.90 per cent in the year-ago period.

UCO Bank MD & CEO Rajendra Kumar Saboo, in a media conference, said, “NIM improved during the period as our cost of deposit was under control. Fresh slippages were low and asset quality improved.”

Saboo said the bank has guided for a NIM of 2.80-2.90 per cent for FY27. The lender is aiming at a credit growth of around 12-14 per cent during this fiscal.

During the second quarter this fiscal, its gross advances grew 24.70 per cent on y-o-y basis, while total deposits rose by 14.36 per cent on y-o-y.

The bank’s gross NPA reduced by 60 basis points y-o-y to 1.96 per cent as on September 30, 2026, whereas net NPA reduced by 25 bps y-o-y to 0.18 per cent.

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