NPA of UCO Bank is reducing, Goel

Gujarat Global News Network, Ahmedabad

While banking sector is worried about rising Non Performing Assets, UCO bank has been registering a steady fall in its NPA. This came down to 8.98 percent and the MD of the bank A K Goel is hopeful that it will come down to 6 per cent by March 2020.

Talking to newmen he said that the bank will be out of Prompt Corrective Action condition the Reserve Bank of India had imposed on UCO bank in 2017. He said that capital adequacy of the bank has come to 9.27, NPA 8.98 and profit is also increasing. These three criteria make qualify it for PCA exemption.

Regarding the approach of the bank, he said that the thrust of the bank is on retail, agriculture and MSME. It has set growth targets for these three sectors. They are retail (20 %), agriculture ( 36%) and MSME (20to 25 %). Going by the profile of the clients these sectors were fixed.

He was here to attend two day manthan of the branch managers to get feedback about the branches and to motivate them to take part in the growth story of India, he said. All banks had two day manthan.

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