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Once a penny stock, UCO Bank share price has seen a major turnaround. In the last three years, the share price rose from ₹11.50 on March 7th 2022 to ₹39 on 21st Feb 2025. It made an all-time high of ₹68.40 on Feb 7th, 2024.
It was the first bank in India, conceived and backed by Indian capital and management. Over the decades, the organizational structure of the bank underwent multiple changes. UCO Bank is ranked 10th largest among public sector banks in India.
In this article, we will do a fundamental analysis of UCO Bank share price and evaluate its future growth potential. Let’s start.
Overview of UCO Bank
The idea of the bank was conceived of by Indian industrialist Mr G.D. Birla during the “Quit India” movement in 1942 and came into reality on 6th January 1943 as United Commercial Bank.
Mr. G.D. Birla was the first Chairman of the bank, which was registered and headquartered in Kolkata. Post-independence, the bank was nationalized in 1969, and 100% ownership of the bank was transferred to Govt. of India. Subsequently, the bank’s name was changed to UCO Bank.
Currently, the bank operates through a network of over 3,200 branches across India, three overseas branches, and over 2,000 ATMs.
At the end of FY24, the bank’s total business was ₹4.5 lakh crore, comprising ₹2.63 lakh crore in deposits and ₹1.86 lakh crore in advances.
UCO Bank Management Profile
Shri Ashwani Kumar is the MD and CEO of UCO Bank and is a Chartered Accountant by profession. He has worked in multiple public sector banks including Bank of Baroda, Corporation Bank, Punjab National Bank, Oriental Bank of Commerce, and India Bank in various divisions and roles.
Shri Rajendra Kumar Saboo is the Executive Director of UCO Bank. He started his career as a probationary officer in the erstwhile Oriental Bank of Commerce in the year 1994. Shri Saboo is a graduate of Commerce and holds an MBA in Banking & Finance.
Shri Vijaykumar Nivrutti Kamble, is the Executive Director. A seasoned banker with a career spanning over 33 years, Shri Kamble started his career as an Agriculture Field Officer at Bank of Maharastra and before joining UCO Bank, he was holding the position of General Bank at Bank of Maharastra.
Shri Sujoy Dutta is the Chief Financial Officer of the bank and a qualified Chartered Accountant. He joined the bank in 2004 and rose through the ranks undertaking various roles and responsibilities.
UCO Bank Shareholding Pattern
The bank has high promoter shareholding, with little stake held by domestic institutions and fairly any foreign institutions have invested in the bank.
UCO Bank’s Financial Performance
Net Interest Income (NII)
UCO Bank’s net interest income in FY24 was ₹8,101 crores during FY24, registering a growth of 10.32% compared to the previous financial year from ₹7,343 crores.
In the April to December period (9MFY25), the bank’s NII reached ₹6,932 crores, which is 17.21% higher compared to the previous year during the same period at ₹5,914 crores in 9MFY24.
Non-Interest Income
The bank’s non-interest income for FY24 increased by 30.18% to ₹3,266 crore compared to the previous financial year at ₹2,508 crore.
And, in the first nine months of FY25, the bank’s non-interest income rose by 40.78% to ₹3,014 crore from ₹2,141 crore.
Net Profit
UCO Bank in FY21 marked a significant turnaround in operations by starting to report net profit after a prolonged period of making losses.
In FY24, the bank’s net profit declined by 11.2% to ₹1,654 crores from ₹1,862 crores in FY23.
And, for 9MFY25, the bank reported a significant growth in net profit to ₹1,793 crores, an increase of nearly 59% from ₹1,128 crores recorded in the same period the previous year.
Key Financial Metrics
Net Interest Margin (NIM)
| Period | FY20 | FY21 | FY22 | FY23 | FY24 | 9MFY25 |
| NIM (%) | 2.44 | 2.58 | 2.81 | 2.87 | 2.92 | 3.12 |
Net Interest Margin, the operating margin for a bank, has improved consistently over the years. In FY25, the bank’s NIM was 2.92%, and for the period 9MFY25, it was 3.12%.
Gross Non-Performing Asset (GNPA)
| Period | FY20 | FY21 | FY22 | FY23 | FY24 | 9MFY25 |
| GNPA (%) | 16.77 | 9.59 | 7.89 | 4.78 | 3.46 | 2.91 |
The bank’s increased focus on retail loan portfolio and active credit risk management and monitoring has helped to lower its non-performing assets. From 16.77% of the total loan book turning bad to 2.91% at the end of December 2024, the bank has significantly improved its overall asset quality, aiding in improving its profitability.
Capital Adequacy Ratio (CAR)
| Period | FY20 | FY21 | FY22 | FY23 | FY24 | 9MFY25 |
| CAR (%) | 11.70 | 13.74 | 13.74 | 16.51 | 16.98 | 16.25 |
The bank’s capital-to-risk weighted ratio indicates the bank’s ability to absorb losses if the bad loans rise. UCO Bank has improved its CAR over the years and is on par with leading public sector banks.
CASA Ratio
This ratio shows how much percentage of the total deposits is there is low yielding savings and current account. At the end of FY24, the bank’s domestic CASA ratio is 39.25%, and at the end of December 2024, it is 37.97%.
Cost of Funds
The bank’s cost of funds in FY24 increased to 4.63% from 3.86% in FY23, indicating the bank is expending more to arrange funds and use them for lending purposes.
At the end of December 2024, the cost of funds further increased to 4.75%.
UCO Bank Share Price Analysis
UCO Bank share price has been on a down-trend for the last one year and also the broad-based weakness in the market is resulting in stock going further down. As of 21st Feb 2024, the UCO Bank share price fell over 35% last year.
Source: tradingview
Regarding dividend payments, the bank resumed paying dividends after a gap of 8 years to shareholders in FY24. The bank paid ₹0.28 per share as dividends to shareholders.
Know More: SEBI Registered investment advisory | Stock investment advisory
UCO Bank Shar Price Valuation Metrics
Earning Per Share (EPS)
| Period | FY20 | FY21 | FY22 | FY23 | FY24 | 9MFY25 |
| EPS (₹) | -3.10 | 0.17 | 0.8 | 1.56 | 1.38 | 1.50 |
In the last five financial years, the EPS growth of UCO Bank has been consistent, but in FY24, the bank marked a slight decline. However, at the end 9MFY25, the bank’s EPS growth surpassed the previous year’s level.
Return on Assets (ROA)
| Period | FY20 | FY21 | FY22 | FY23 | FY24 | 9MFY25 |
| ROA (%) | -0.96 | 0.06 | 0.34 | 0.62 | 0.56 | 0.75 |
UCO Bank’s Return on Assets (ROA) is lower than 1% for all periods in the last five years.
Price-to-Book VS Median Price-to-Book
Source: Screener
At the current market price of UCO Bank share price (₹38.6), the price-to-book value (₹22.9) is 1.6, and the 5-year Median Price-to-Book is 0.7, trading higher than its historical averages.
UCO Bank Share Price What’s Next
UCO Bank share price is struggling due to broader weakness in the market and other market challenges.
One of the major concerns in the Indian banking sector is the lower deposit growth rate compared to the credit growth rate. In the December 2024 quarter, UCO Bank’s deposit growth rate was 9.36%, while the credit growth rate was 16.44%.
Failure to attract a higher deposit growth rate could increase the bank’s cost of funds, which could impact profitability. In the long term, UCO Bank’s share price growth will depend on its ability to improve its Return on Assets, NPA, and profitability metrics. To comply with SEBI’s minimum public shareholder norm of 75%, the government will bring ₹2000 crore QIP in Q4FY25.
Disclaimer Note: The securities quoted, if any, are for illustration only and are not recommendatory. This article is for education purposes only and shall not be considered as a recommendation or investment advice by Equentis – Research & Ranking. We will not be liable for any losses that may occur. Investments in the securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL & certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.
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FAQs
How has UCO Bank share price performed in the last three years?
In the last three years, the UCO Bank share price rose from ₹11.50 on March 7th, 2022, to ₹39 on 21st Feb, 2025, translating to an annualized gain of 51%. The stock made an all-time high of ₹68.40 on Feb 7th, 2024.
Does UCO Bank pay dividends to shareholders?
UCO Bank in the last 5 years (FY20 to FY24) paid dividends only once in FY24. It announced a dividend of ₹0.28 per share.
Is UCO Bank a profitable public sector bank?UCO Bank is a profitable public sector bank and has consistently made net profit from its operation since FY22. In FY24, UCO Bank’s net profit was ₹1,654 crore.
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I’m Archana R. Chettiar, an experienced content creator with
an affinity for writing on personal finance and other financial content. I
love to write on equity investing, retirement, managing money, and more.
