UCO Bank, Punjab & Sind Bank shares fall over 4% post Q4 earnings

Shares of public sector lenders UCO Bank and Punjab & Sind Bank fell over 4% in Wednesday's intraday trade on BSE post March quarter earnings.

In Q4 FY23, UCO Bank posted its highest-ever net profit of Rs 1,862.34 crore, a 100.3% year-on-year (YoY) increase compared with Rs 929.76 crore clocked in the corresponding quarter of last year.

The bank's net interest income (NII) in Q4 came in at Rs 3,743.13 crore and was up 13.44% YoY. Meanwhile, the net interest margin (NIM) for FY2022-23 stood at 2.87%.

Its global business touched Rs 4,10,967.19 crore in the March quarter of 2023, compared to Rs 3,53,850.24 crore in the March quarter of 2022. Loan book in Q4 stood at Rs 1,61,629 crore and was up 24.54% YoY.

On the asset quality front, net NPA reduced by 141 basis points to Rs 2,018 crore (1.29%) in Q4 FY23 from Rs 3,315.78 crore (2.7%) as on March 31, 2022.

At 10.22 am, shares for UCO Bank stock were trading 2.7% lower at Rs 29.9 on BSE. In the last one year, it has delivered a multibagger return of 156%.

Meanwhile, in Q4 FY23, Punjab & Sind Bank recorded a net profit of Rs 457 crore against a net profit of Rs 346 crore (YoY), registering a growth of 32.08%.

The bank's net interest income (NII) in FY23 stood at Rs 2,973 crore, rising 12.1% YoY. Meanwhile, the net interest margin (NIM) for FY2022-23 stood at 2.91%.

The net NPA reduced by 18 basis points to Rs 1.84% in Q4 FY23 from 2.02% in Q4 FY22. The capital adequacy ratio (CRAR) stood at 17.10%.

Bank surpassed the targets in priority sector advances which stood at 54.99% and agriculture advances at 20.67% of ANBC, as on March 2023, against the regulatory target of 40% and 18%, respectively.

At 10.22 am, the Punjab & Sind Bank stock was trading 3.2% lower at Rs 36.2 on BSE. In the last one year, it has delivered multibagger return of 128%.