UCO Bank (UCOBANK) investor relations material

Executive summary

• Q2 FY27 global business reached ₹637,280 Cr, up 18.81% YoY; deposits were ₹349,590 Cr (+14.36%) and advances ₹287,690 Cr (+24.70%).

• Net profit rose 26.77% YoY to ₹786 Cr; management said deposits, advances and asset quality exceeded year-start guidance, while CASA was the exception.

Financial highlights

• Q2 operating profit was ₹1,872 Cr, up 16.08% YoY; net interest income rose 13.96% to ₹2,886 Cr.

• Q2 operating income was ₹8,174 Cr (+10.15%); non-interest income was ₹888 Cr (+0.47% YoY, -47.32% QoQ), and fee income rose 34.66% to ₹558 Cr.

• H1 FY27 operating profit was ₹4,682 Cr (+47.44%), net profit ₹1,442 Cr (+17.52%) and NII ₹5,695 Cr (+15.37%).

• Q2 total income was ₹817,408 lakh, versus ₹742,139 lakh a year earlier; PBT was ₹106,469 lakh, versus ₹102,506 lakh.

Outlook and guidance

• FY27 guidance: deposit growth 10%–12%, credit growth 12%–14%, CASA 37%–38%, RAM 62%–65%, CD ratio 80%–82%, global NIM 2.8%–2.9% and credit cost below 0.75%; September actuals were 14.36%, 24.70%, 36.77%, 65.76%, 82.29%, 3.00% and 0.65%, respectively.

• Management expects advances growth to exceed the 12%–14% guidance, supported by RAM and corporate lending, but did not provide a revised rate.

• Management expects global NIM to remain above guidance as repo-linked lending reprices; no immediate term-deposit rate increase was planned, with any adjustment dependent on funding needs and market supply.

• Cost-to-income was 50.39% in Q2; FY27 expectation was around 50%, below FY26. Normalized ratios were 45.42% for June 2026 and 47.93% for H1 FY27.

• Total recovery and upgradation reached ₹1,910 Cr through September against FY27 guidance of ₹2,000–2,500 Cr; written-off account recoveries of ₹301 Cr were described as normalized.