UCO Bank says gross NPA is below 2% and sees limited drought impact
In short
UCO Bank’s acting MD & CEO Rajendra Kumar Saboo said the bank has already cut gross NPA below 2%. He also said drought conditions and higher bond yields should have only a limited impact.
This matters because lower bad loans can support the bank’s health. The report does not give more details on credit growth or say whether the comments were part of a formal update.
What the reporting says
UCO Bank MD & CEO (I/C) Rajendra Kumar Saboo said the bank has already brought gross NPA below 2% and sees limited impact from drought conditions and higher bond yields. The CNBC TV18 Business summary gives no further numbers on credit growth, asset quality trends, or the timing of the comments. It is not stated whether the view reflects a formal guidance update or a broader operating assessment.
Why it matters
UCO Bank MD & CEO (I/C) Rajendra Kumar Saboo said gross NPA is already below 2% and that drought conditions and higher bond yields should have limited impact. The report does not provide a credit-growth figure, an updated forecast, or any timeline. The immediate effect on lending, earnings, or asset quality beyond the NPA statement was not stated.