|
Report Date : |
26.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
UCO BANK |
|
|
|
|
Registered
Office : |
Head Wing, International Wing,
10 BTM Sarani, Kolkata - 700 001, |
|
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|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Year of
Establishment: |
1943 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs. 24877.122 Millions |
|
|
|
|
Legal Form : |
Subject is a Government of
India Bank. The Bank’s Shares are traded on the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Subject is engaged in
Banking Activities. |
|
|
|
|
No. of
Employees: |
23259 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (61) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 344500000 |
|
|
|
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established and reputed bank having fine track. It is wholly
– owned by the Government of India. The bank has recorded a considerable
increase in its turnover and portability during the year 2012. Trade relations are reported as decent. Business is active. Payments
are reported to be regular and as per commitments. The bank can be considered good fro any business dealings at usual
trade terms and conditions |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office/Head Office : |
Head Wing, International Wing, 10 BTM Sarani, Kolkata - 700 001, West |
|
Tel. No.: |
91-33-2234-1551 |
|
Fax No.: |
91-33-4455-7702 |
|
E-Mail : |
|
|
|
|
|
Branch 1 : |
|
|
Tel. No.: |
91-22-2286-2425/2427 |
|
|
|
|
Branch 2: |
2, |
|
Tel. No.: |
91-44-2815-1034/3445 |
|
|
|
|
Branch 3: |
108-108, |
|
Tel. No.: |
91-11-4350-9200 |
|
|
|
|
Branch 4: |
49, Jatin Das Raod (opposite |
|
Tel. No.: |
91-33-2464-7231/32 |
|
|
|
DIRECTORS
|
Name : |
Mr. Arun Kaul |
|
Designation : |
Chairman and Managing Director |
|
|
|
|
Name : |
Mr. N.R Badrinarayanan |
|
Designation : |
Executive Director |
|
|
|
|
Name : |
Mr.S. Chandrasekharan |
|
Designation : |
Executive Director |
|
|
|
|
Name : |
Mr. Pravin Rawal |
|
Designation : |
Director |
|
|
|
|
Name : |
Mrs. Uma Shankar |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Prof. Sebastian Luckose Marris |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Ram Avatar Sharma |
|
Designation : |
Director |
|
|
|
|
Name : |
|
|
Designation : |
Director |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2012
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding
of promoters and Promoter Group |
|
|
|
1. Indian |
|
|
|
Central Government/ State Government |
433336366 |
65.19 |
|
Sub Total |
433336366 |
65.19 |
|
|
|
|
|
(B) Public
Shareholding |
|
|
|
1. Institutions |
|
|
|
Mutual Funds / UTI |
2617132 |
0.39 |
|
Financial Institutions / Banks |
1267940 |
0.19 |
|
Insurance Companies |
98996759 |
14.10 |
|
Foreign Institutional investors
|
23071512 |
3.47 |
|
|
|
|
|
Sub Total |
120656343 |
18.15 |
|
|
|
|
|
2. Non Institutions
|
|
|
|
Bodies Corporate |
21930515 |
3.30 |
|
Individual shareholders holding nominal share capital up to Rs.0.100
million |
74168007 |
11.16 |
|
Individual shareholders holding nominal share capital in excess of
Rs.0.100 million |
10840929 |
1.63 |
|
Any Other
(Specify) |
3780080 |
0.57 |
|
Trusts |
483770 |
0.07 |
|
Non Resident Indians |
2150961 |
0.57 |
|
Clearing Members |
1145349 |
0.17 |
|
Sub Total |
110719531 |
16.66 |
|
|
|
|
|
Total Public
Shareholding (B) |
231375874 |
34.81 |
|
|
|
|
|
Total (A) + (B) |
664712240 |
100.00 |
|
Shares
held by custodians and against which depository receipts have been
issued (C) |
--- |
---- |
|
(1)
Promoter and Promoter Group |
--- |
--- |
|
(2)
Public |
--- |
--- |
|
Sub Total |
--- |
--- |
|
Total (A) + (B) +(C) |
664712240 |
--- |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in
Banking Activities. |
GENERAL INFORMATION
|
No. of Employees : |
23259 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||
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Bankers : |
Reserve Bank of |
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Facilities : |
Rs.
In Millions
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M/s Kothari And Company Chartered Accountant |
|
|
|
|
|
M/s Baweja And Kaul Chartered Accountant |
|
|
|
|
|
M/s SBA Associates Chartered Accountant |
|
|
|
|
|
M/s Ved And Company Chartered Accountant |
|
|
|
|
|
M/s Dass Gupta And Associates Chartered Accountant |
|
|
|
|
|
M/s Gupta Sharma And Associates Chartered Accountant |
|
|
|
|
Associates |
· Jaipur Thar Gramin Bank · Kalinga Gramya Bank · Bihar Kshetriya Gramin Bank · Mahakaushal Gramin Bank ·
aschim Banga Gramin Bank |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000000 |
Equity Share |
Rs.10/- each |
Rs.7500.000 Millions |
|
225000 |
Perpetual Non – Cumulative Preference Shares |
Rs.100000/- each |
Rs.22500.000 Millions |
|
Total |
|
|
Rs.30000.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
664712240 |
Equity Share (includes 43,33,36,366 (42,75,17,479) shares held by Central Government ) |
Rs.10/- each |
Rs.6647.122
Millions |
|
182300 |
Perpetual Non – Cumulative Preference Shares |
Rs.100000/-
each |
Rs.18230.000
Millions |
|
Total |
|
|
Rs.248771.122 Millions |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
CAPITAL & LIABILITIES |
|
|
|
|
Share Capital |
24877.122 |
24505.175 |
16993.600 |
|
Reserves & Surplus |
61257.211 |
49687.048 |
35111.815 |
Total
|
86134.333 |
74192.223 |
52105.415 |
|
|
|
|
|
|
Deposits |
1540034.897 |
1452776.018 |
1224155.505 |
|
Borrowings |
129014.220 |
54747.738 |
62638.405 |
|
Other Liabilities & Provisions |
49800.541 |
52268.553 |
34295.577 |
|
|
1718849.658 |
1559792.309 |
1321089.487 |
|
|
|
|
|
GRAND
TOTAL
|
1804983.991 |
1633984.532 |
1373194.902 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
|
|
|
|
|
Cash and Balances with Reserve Bank of |
78115.292 |
104040.262 |
72427.294 |
|
Balance with Bank and Money at Call and
Short Notice |
57921.554 |
65764.056 |
8616.014 |
|
Investments |
457714.952 |
429272.829 |
435214.337 |
|
Advances |
1155400.102 |
990708.136 |
825045.338 |
|
Fixed Assets |
8015.498 |
7388.715 |
7100.382 |
|
Other Assets |
47816.593 |
36810.534 |
24791.537 |
|
|
|
|
|
|
GRAND
TOTAL |
1804983.991 |
1633984.532 |
1373194.902 |
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Interest Earned |
146323.715 |
113708.024 |
95263.216 |
|
Other income |
9655.551 |
9254.135 |
9659.278 |
|
Total Income |
155979.266 |
122962.159 |
104922.494 |
|
|
|
|
|
Expenditures:
|
|
|
|
Interest Expended
|
107302.703 |
75258.858 |
72021.960 |
Operating Expenses
|
20562.348 |
20753.667 |
15844.211 |
Provisions
& Contingencies
|
17027.477 |
17884.230 |
6934.464 |
Total
Expenditures
|
144892.528 |
113896.755 |
94800.635 |
|
|
|
|
|
|
Net Profit for the year |
11086.738 |
9065.404 |
10121.859 |
|
|
|
|
|
Brought
Forward
|
16851.703 |
13489.804 |
8048.043 |
|
|
|
|
|
Appropriations
|
|
|
|
|
Transfer to Statutory Reserves |
2771.685 |
2266.351 |
2530.465 |
|
Transfer to Capital Reserves |
78.621 |
49.419 |
652.113 |
|
Proposed Dividend |
3421.915 |
2905.215 |
1270.293 |
|
Tax on Proposed Dividend |
555.120 |
482.520 |
215.886 |
|
General Reserve |
0.000 |
0.000 |
11.341 |
|
|
|
|
|
|
Balance Carried to Balance Sheet |
2111.100 |
16851.703 |
13489.804 |
|
|
|
|
|
|
Earnings Per Share (Rs.) |
15.02 |
14.29 |
17.47 |
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Constitution
of the firm |
Yes |
|
Premises
details |
No |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
No |
|
No.
of Employees |
Yes |
|
Name
of Person Contacted |
No |
|
Designation
of contact person |
No |
|
Turnover
of firm for last three years |
Yes |
|
Profitability
for last three years |
Yes |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
No |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
Yes |
|
Major
Suppliers |
No |
|
Major
Customers |
No |
|
Payment
Terms |
No |
|
Export
/ Import Details [If Applicable] |
No |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
Yes |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
No |
MANAGEMENT
DISCUSSIONS & ANALYSIS
Economic Review
2011-12:
Economic growth throughout the world had seen a sagging phase during
the year 2011-12. Indian economy is not an exception. Turmoil in global
economy, Eurozone’s financial crisis had made a direct impact on Indian
economic growth. Real GDP grew just 6.1 per cent in the third quarter of the
fiscal year 2011-12 against 6.9 per cent in the previous fiscal. The rate of
growth in 2011-12 is estimated at 6.9per cent, which is marginally lower than
the RBI’s projection of 7per cent as per the Advance Estimates (AE). The
projection of growth as per Advance Estimates was maintained predominantly due
to agriculture and construction.
An important feature in the Indian economy has been that the
investment activity during the year 2011-12 has slowed down and as a result the
Gross Fixed Capital Formation (GFCF) for 2011-12 has slipped to 29.3 per cent,
a decline of almost 4 percentage points
over the last four years’ average.
Sectoral
Developments:
Overall agriculture sector GDP growth for 2011-12 is expected to be
3 per cent on an average, riding high on record outputs for rice, wheat and a
strong trend in growth in horticulture and animal husbandry.
IIP output growth showed a massive decline of 5.7 per cent in
October, a sizeable recovery in November (6.6 per cent), with however a low
reported growth in December of 1.8 per cent. In the month of January, 2012 IIP
figures had registered output growth of 1.1per cent (revised from 6.8per cent
due to error in recording sugar production). However, in the month of
February,2012 factory output growth had shown a significant improvement by
recording 4.1per cent growth. Leaving capital goods, the IIP Y-O-Y growth rate
is estimated to be around 5 per
cent in the year 2011-12.
Mining and quarrying sectors are likely to report negative growth
(-2.2per cent as per AE) for 2011-12 on account of weak coal output growth,
restrictions imposed on iron ore production, decline in natural gas production
and negative growth in crude oil output Electricity sector has performed well.
It is expected to grow at 8.3 per cent during 2011-12.
Manufacturing and
construction have
been sluggish during the first three quarters of 2011-12. The overall growth
rate is expected to be 3.9 per cent and 6.2 per cent respectively.
Manufacturing output, which constitutes about 76per cent of industrial output,
grew 4.0per cent in February compared with an annual 1.4per cent growth in the
previous month. Production of consumer durable goods shrank 6.7per cent in
February from a year earlier. Consumer goods contracted 0.2per cent during the
same period. Capital goods production, a proxy for investment, recorded its
first growth in six months expanding 10.6per cent from a year earlier. Services
sector had
experienced a strong growth of 9.6per cent in the first half of the 2011-12 and
is expected to grow at 9.4 per cent for the full year 2011-12.
External Payments:
Current Account Deficit (CAD) had experienced a critical phase by
averaging at 3.6 per cent (annualized) of GDP in the first half of 2011/12. CAD
for 2011-12 is projected to be 3.6 per cent. The country’s current account
deficit (CAD) nearly doubled in October-December and rose to
$19.6 billion from $10.1 billion a year earlier, due to a sharp
slowing in merchandise and services exports, whereas, imports grew at a rapid
pace
The decline of the rupee vis-ŕ-vis the US dollar was 19 per cent in
the course of April–December 2011. However, there has been some recovery in the
course of January and February 2012, with the rupee recovering by about 7.5 per
cent. In the year 2011-12 the nominal
epreciation of rupee against the US dollar was by about 13 per cent
Fiscal Deficit &
Reserves:
Fiscal deficit in the year 2011-12 is expected to be 5.9per cent of
GDP while that in 2010-11 was 4.9per cent. Rising fiscal deficit and short-term
debt levels were the major challenges for the fiscal policies. Forex reserves
had reduced from USD 304.8 bn in March,11 to 294.4 bn in March,12. As on Dec,
2011External debt to GDP ratio and Short Term debt to total debt ratio had also
increased over the previous financial year and stood at 20per cent and 23.3per
cent, The 10-year benchmark government security yield remained range-bound
during the first half of 2011-12. The 10-year benchmark yield was at 8.6 per
cent on April 13, 2012 as compared with 8.0 per cent at end-March 2011.
Export – Import:
Foreign Direct
Investment (FDI):
Total flow of financial resources to the commercial sector was marginally
higher at _
12.7
trillion during 2011-12 as compared with _ 12.4 trillion during the previous year,
mirroring tight liquidity conditions and higher cost of borrowings from banks,
corporates increased their recourse to non-bank sources, especially foreign
direct investment (FDI) and commercial paper.
Inflation:
WPI inflation which remained above 9 per cent for nearly two years
has moderated significantly to below 7 per cent by March, 2012. Non-food
manufactured products inflation has dropped from a high of 8.4 per cent in
November,2011 to 4.7 per cent in March, 2012, actually coming below 5 per cent
for the first time in two years. Much of the inflationary pressure came from
demand gap in primary foods, including cereals in the initial months. Headline
inflation has shown decline since November 2011 and more strongly in January,
2012. Wholesale price indexbased inflation, was at 6.95per cent in February
after falling to a two-year low of 6.55per cent in the month of January, 2012.
Food articles inflation, which was 8.1 per cent during April-December, 2011,
briefly turned negative in January, 2012 reflecting the seasonal decline in
food prices, particularly of vegetables, combined with a high base effect.
However, it increased sharply to 6.1 per cent in February and further to 9.9
per cent in March, 2012.
Year-on-year inflation for manufactured goods rose from around 5 per
cent in September, 2010 to 8 per cent during September and October, 2011. In
the closing part of FY 2011-12 it had shown an indication of easing by
recording non-food manufacturing products Y-O-Y inflation as 6.7per cent and
5.7per cent in Jan.and Feb., 2012, respectively.
Monetary Policy:
RBI has raised the key policy rates for 13 times since March, 2010. As
on March, 2012 under the Liquidity Adjustment Facility the Repo, Reverse Repo
and Marginal Standing Facility rates were 8.5per cent, 7.5per cent and 9.5per
cent, respectively. RBI has reduced the CRR from 6per cent to 4.75per cent in
the year 2011- 12 in two instalments of 50 bps (Dec., 2011) and 75 bps (Jan.,
2012). Bank Rate has been
changed from 6per cent to 9.5per cent in February,2012. SLR also was
slashed by 1 per cent (25per cent to 24per cent) during the year 2011-12.
Banking Developments
:
Deposit Growth
Deposit growth at Indian banks stood at 17.4per cent to 61.12
trillion rupees in the year 2011-12, which is marginally higher than the RBI's
projection of 17per cent, whereas, the deposit growth in the year 2010-11 was
16.58per cent. Reason behind the sign of improvement in growth of deposit was
due to soothing of high inflation rate spread over the last two years.
Credit Growth
Advances grew by 19.3per cent to 47.05 trillion rupees, higher than
the 16per cent projected by the RBI for the financial year 2011-12. The central
bank had scaled down its advances growth projection in its January policy
review from 18 per cent announced in its April, 2011 statement. Non-food credit
growth decelerated from 22.1 per cent at the beginning of 2011-12 to 15.4 per
cent by February, 2012 reflecting slower economic activity. However, it picked
up to 16.8 per cent in March, higher than the indicative projection of 16 per
cent.
Credit-Deposit Ratio
Credit deposit ratio (CD ratio) of Indian Banking sector has stood
up to 76.97per cent in March,, 2012 from 75.7per cent in March, 2011.
Money Supply (M3)
The Broad Money Supply, i.e., M3 grew by 13.0per cent (y-o-y) as on March,‘12 – way below its growth of 16.0per cent at end- March, 2011. The money supply growth at present is 250 bps lower than its projected trajectory of 15.5per cent set for the year 2011-12, mirroring tightness in primary liquidity and lower credit demand during most part of the year.
Liquidity Condition
Liquidity conditions remained in a deficit mode throughout 2011- 12.
However, beginning November, 2011, the liquidity deficit went beyond the
comfort level of (+)/(-) one per cent of net demand and time liabilities (NDTL)
of banks. Average net injection of liquidity under the daily liquidity adjustment
facility (LAF) increased from around _ 0.5 trillion during April-September, 2011 to
around _
1.4
trillion during February, 2012 and further to _ 1.6 trillion during March, 2012,
partly reflecting a build-up in government cash balances. In order to mitigate
the liquidity tightness, the Reserve Bank took steps to inject primary
liquidity of a more durable nature. It conducted open market operations (OMOs)
aggregating around _ 1.3 trillion between November 2011 and March 2012. Further, the cash
reserve ratio (CRR) was reduced by 125 basis points (50 basis points effective
January 28, 2012 and 75 basis points effective March 10, 2012), injecting
primary liquidity of about _ 0.8 trillion.
eflecting these measures, combined with decline in government cash balances,
the net injection of liquidity under the LAF, which peaked at _ 2.0 trillion on
March 30, 2012, declined sharply to _ 0.7 trillion on April 13,
2. Economic Outlook
2012-13:
Trend of Global GDP
Growth
Experts are cautiously optimistic regarding the economic outlook of
2012-13. The global recovery is threatened by intensifying strains in the euro
area and fragilities elsewhere. Financial conditions have deteriorated, growth
prospects have dimmed, and downside risks have escalated. Global output had also
slowed down and is projected to expand by 3.25 per cent in 2012. Growth in
emerging and developing economies is also apprehended to slow because of the
worsening external environment and a weakening of internal demand.
Specifically, concerns about banking sector losses and fiscal sustainability
widened sovereign spreads for many euro area countries, which reached highs not
seen since the launch of the Economic and Monetary Union. Bank funding all but
dried up in the euro area, prompting the European Central Bank (ECB) to offer a
three-year Long-Term Refinancing Operation (LTRO). Currency markets were
volatile, as the Japanese yen appreciated and many emerging market currencies
depreciated significantly. In FY 2012–13, growth in emerging and developing economies
is expected to be 5.75 per cent on an average, a significant slowdown from the
6.75 per cent growth registered during 2010–11and 6.25per cent projected for
the year 2011-12.
Indian Economy:
In the year 2012-13 the economy is likely to grow at around 7.6 per
cent. An improvement of 1.5 to 2.0 percentage points of GDP can be envisioned
in 2012-13. Price stability will also normalize consumption demand. The weaker
currency is likely to improve the prospects for export demand. However, there
is a fairly wide range of outcomes both on investment side, on the financial
side and on the trade front that may be reasonably envisaged.
The inadequacy of infrastructure availability continues to act as a
constraint for the expansion of economic activity across the country. It is
likely that the targets set for 2011-12 in power and roads may be achieved.
Government is expected to set ambitious targets for 2012-13 for both capacity
creation in key infrastructure areas and operational performance, especially in
the coal sector,
so that a fillip is provided to the improvement of economic activity
in 2012-13.
Inflationary pressure will continue to ease through 2012-13 and will
remain around 5-6 per cent for the year 2012-13. It is expected that the Govt. will
have a sharp vigil on food prices and take proactive measures not only to
encourage output increase but equally, if not even more urgently, to ensure the
rollout of an adequate food logistics network that can do justice to the rising
demand for and output of horticulture and animal husbandry products.
The Current Account Deficit (CAD) for the year 2012-13 will be 3.0
per cent. Govt. will however, try and limit the CAD over the medium term to
between 2.0 and 2.5 per cent of GDP. On the capital account side, capital
inflows especially that in the form of equity is expected to be encouraged and
improve domestic conditions for investment and growth, along with fundamental
macroeconomic stability, i.e. prices,
exchange rate and fiscal balances.
II. PERFORMANCE OF
THE BANK 2011-12 :
3. UCO’s NETWORK:
BRICK and MORTAR
Network:
As of March, 2012 they have 8 Circle Offices, 36 Zones and 2394
branches, which include four overseas branches, two each in
The Bank has strengthened its pan-India network by opening188
branches during
the year 2011-12, which takes the total from 2202 in March,2011 to 2390 in
March, 2012. Out of the branches opened during the year 2011-12, 23 were
in Tier-V and 20 in Tier-VI centers.
To have a better and focussed monitoring over the performance of the
branches the Bank had added one more zone, namely PUNE zone, in the year
2011-12 which takes the total number of Zones of the Bank from 35 in March,
2011 to 36 in March,, 2012. Apart from this, another major development during
the year 2011- 12 was the transfer of eight branches in
Specialized Branches:
The Bank has a good network of specialized branches catering to the
specialized or specific requirements with specialized skills. The Bank had
consolidated Flagship Corporate branches from 9 in March,, 2011 to 8 in March,,
2012 through merger of 1 FC branch with general branch or conversion to general
branch during the year 2011-12, Similarly Mid Corporate branches also got
reduced from 26 in March, 2011 to 16 in March, 2012 by merger of 10 MC branches
with general branches or conversion to general branches during the year
2011-12, Five new Asset Management Branches were opened, at Bhubaneswar,
Bhopal, Chandigarh, Lucknow and Patna, during the year 2011-12 to take the
number from 5 in March, 2011 to 10 in March, 2012. Number of Service Branches
increased from 20 in March, 2011 to 22 in March, 2012. The Bank has designated
70 Personalised Banking Branches during the year 2011-12, which increases the
total number of Personalised Banking Branches from 217 in March, 2011 to 287 in
March, 2012, to boost CASA. As of March, 2012 there is one Integrated Treasury
Management Branch at Mumbai.
The Bank had put serious efforts to strengthen its retail business
by opening 13 new Retail Loan Hubs (RLHs) during the year 2011-12 to increase
the total number of RLHs from 26 in March, 2011 to 39 in March,12. Further the
Bank has launched 12 SME Hubs during the year 2011-12. Four
Alternative Delivery
Channels:
In terms of expansion of network through alternative delivery
channels i.e. through ATM network, the number of ATMs opened during the year
2011-12 was 256, thereby reaching a total of 864 as of 31st March, 2012, out of
which 551are on-site and 313 are off-site ATMs. The Bank has introduced OPEX
model ATMs during the year 2011-12. Among the total number of ATMs, 773 are of
CAPEX model and rest 91 are of OPEX model. 165 new CAPEX model ATMs and the
entire 91 OPEX model ATMs were opened during the financial year 2011-12. The
Bank has launched two Biometric ATMs (Murshidabad & Muzaffarabad), for
illiterate and physically challenged persons, where all Biometric Card Holders
|
PRODUCT |
As on 31.03.2011 |
As on 31.03.2012 |
Growth FY 11-12 |
|
No of ATMs |
608 |
864 |
256 |
|
UCO VISA Debit Cards |
1.331 Millions |
1.893 Millions |
0.562 Millions |
|
Cards issued / month |
42148 |
50819 |
8671 |
|
e-Banking Users |
76561 |
130497 |
53936 |
The Bank had taken a step forward towards technological upgradation
by launching
4. BUSINESS PROFILE:
During the year 2011-12, the Bank showed a respectable growth in all
the business parameters. Advances figures had shown a steady upward growth with
global advances growing by 16.85 per cent during the year 2011-12 to reach the
level of _
117504.000
Millions as of March, 2012 from _ 100561.000 Millions as of March, 2011. Global
deposit had also shown a positive growth of 6.01per cent to reach the level of _ 154003.000
Millions as of March, 2012 from _ 145278.000 Millions as of March, 2011. Global
business had registered the volume of _ 271507 Millions as of March, 2012 from _ 245839.000
Millions as of March, 2011 by securing a respectable growth of 10.44per cent.
|
|
|
Growth (percentage) |
||
|
Particular |
Fy 2011 |
FY 2012 |
Fy 2011 |
FY 2012 |
|
Global |
|
|
|
|
|
Deposits |
145278.000 |
154003.000 |
8725 |
6.01 |
|
Advances |
100561.000 |
117504.000 |
16943 |
16.85 |
|
Total Business |
245839.000 |
271507.000 |
25668 |
10.44 |
In case of domestic advances also bank had shown a steady growth of
15.65per cent to reach the level of _ 107840.000 Millions by March, 2012. Domestic
deposit grew by 4.11per cent and reached the level of _ 142017
.000Millions by March, 2012. Domestic business also registered a respectable
growth of 8.79per cent to reach the level of __ 249857.000 Millions as of March,
2012.
|
|
|
Growth (percentage) |
||
|
Particular |
Fy 2011 |
FY 2012 |
Fy 2011 |
FY 2012 |
|
Deposits |
|
|
|
|
|
Domestic |
136415.000 |
142017.000 |
5602 |
4.11 |
|
Advances |
93246.000 |
107840.000 |
14594 |
15.65 |
|
Total Business |
229661.000 |
249857.000 |
20196 |
8.79 |
During the year 2011-12, the overseas centres of the Bank performed exceedingly
well, with growth in deposits and advances at 35.24 per cent and 32.11 per
cent, respectively to reach the level of _ 11986.000 Millions and _ 9664.000 Millions,
respectively. Overseas business had shown a sharp upward trend to reach the
level of _
21650.000
Millions and recorded a 33.82 per cent growth during the financial year
2011-12.
|
|
|
Growth (percentage) |
||
|
Particular |
Fy 2011 |
FY 2012 |
Fy 2011 |
FY 2012 |
|
Overseas |
|
|
|
|
|
Deposits |
8863.000 |
11986.000 |
3123 |
35.24 |
|
Advances |
7315.000 |
9664.000 |
2349 |
32.11 |
|
Total Business |
16178.000 |
21650.000 |
5472 |
33.82 |
Per branch domestic business of the Bank has reached _ 105.000 crore as
of March, 2012. Per branch domestic deposits has reached _ 59.000 crore in
the year 2011-12. Per branch advances figure has improved from _ 42.000 crore to _ 45.000 crore
during the year 2011-12.
5. PROFITABILITY:
During the year 2011-12, the Bank had shown a higher growth in net
profit, which increased from _ 907.000 Millions in March, 2011 to _ 1109.000 Millions
in March, 2012 by recording a growth of 22.27 per cent over the previous
financial year. The net profit in the year 2011-12 was highest in the history
of the Bank. The reason behind the respectable performance was basically the
increase in interest income from _ 11371.000 Millions in March, 2011 to _ 14632.000 Millions
in March, 2012 by recording a Y-O-Y growth of 28.68 per cent. Operating profit
of the Bank had increased from _ 2695.000 Millions in March, 2011 to 2811.000
Millions in March, 2012, thereby registering a y-o-y growth of 4.30 per cent.
The declining Y-O-Y growth figure of operating profit was predominantly due to
42.57 per cent increase in interest paid during FY 11-12.
|
|
March 2011 |
March 2012 |
|
Return on Assets (per cent) |
0.66 |
0.69 |
|
Cost to Income Ratio (per cent) |
43.51 |
42.24 |
|
Book Value per Share (_) |
83.16 |
94.72 |
|
Earnings per Share (_) |
14.29 |
15.02 |
|
Net Interest Margin (per cent) |
3.07 |
2.77 |
6. OPERATIONAL
PERFORMANCE:
6.1. Investment:
Gross investment of the Bank has increased from _ 43124.000 Millions
in March, 2011 to _ 46185.000 Millions in March, 2012 by registering a growth of 7 per
cent in the year 2011-12. The Domestic investments (gross) of the Bank during
the year 2011-12 grew by 8.82 per cent from _ 41388.000 Millions as of 31.03.2011
to _
45038.000
Millions as of 31.03.2012. SLR investment (domestic) increased by 15 per cent
during the year 2011-12 by registering the level of _ 40102.000 Millions
in March,12 from _ 34963.000 Millions in March, 2011. Non-SLR investment (domestic)
declined by 23 per cent from _ 6425.000 Millions in March, 2011 to _ 4936.000 Millions
in March, 2012. Total income has also registered a reasonably good growth of
15.43per cent over the previous financial year to reach the level of _ 3474.000 Millions
in March, 2012 from _ 3009.000 Millions in March,2011. Net profit on sale of investment
(domestic) had shown a significant increase of (more than doubled) 115per cent
by recording a level of _ 191.000 Millions in March, 2012 from _ 89.000 Millions in March, 2011.
6.2. Retail and CASA:
The Bank put considerable emphasis on strengthening its retail
portfolio during the year 2011-12. There had been several initiatives to
improve bank’s liability portfolio like several CASA and Total Freedom
campaigns throughout the country, launch of different deposit schemes,
promoting salary account “UCO Suvidha”, etc. Attractive deposit schemes like RD
scheme “UCO Sowbhagya”, TD scheme “UCO Vasanth Bonanza” were launched at the
later part of 2011-12 to boost the deposit volumes.
In order to improve the asset portfolio of the Bank and improve
credit delivery to the retail customers by cutting down delays in processing of
Retail Loan Applications as also to serve customer in a better manner, the bank
had taken several initiatives during the year 2011-12. The Bank had opened 13
new Retail Loan Hubs in the year 2011-12, which takes the total number of RLHs
to 39 as of March, 2012 from 26 as of March, 2011. Several existing schemes
meant for retail customers namely, UCO Home Loan, UCO Trader, UCO Education,
UCO Pension, etc., had been modified to remain competitive in the market as
well as to suit niche clientele. Gold Loan scheme had been modified and new
UCO Gold Loan Scheme had been launched for financing Retail sset
Products on 31st January, 2012 under both Priority and on-Priority Sectors at
all branches. Online application facility aunched since 11th August, 2011 for
UCO Home and Car Loans n addition to existing facility for UCO Education Loan.
Bancassurance:
In order to facilitate marketing of Mutual Fund Investments by he
Branches through the Systematic Investment Plan (SIP) route, upto debit facility
has been introduced on 16th January, 2012 in ie up with Bill Desk as their
Aggregator. The Bank during the year 2011-12, focussed on marketing more
traditional products rather than the single premium products to increase the
fee based income.
6.3. Mid Corporate:
The Bank had given special attention to SME advances and accordingly
a dedicated channel; SME Loan Hubs were launched at SME concentrated areas.
During FY 2011-12, the Bank had opened 12 SME Loan Hubs at Ahmedabad,
6.4. Agriculture
& Rural business:
Priority Sector
Lending
During the year 2011-12, the priority sector advances of the Bank
stood at _
28301
crore constituting thereby 33.56 per cent of Adjusted Net Bank Credit (ANBC).
Agricultural Advances
The total agricultural advances of the Bank stood at _ 9653.000 Millions
constituting 11.45 per cent of ANBC. Direct agricultural credit stood at _ 7632.000 Millions
constituting 9.05 per cent of ANBC and Indirect agriculture credit stood at _ 2021.000 Millions
constituting 2.40 per cent of ANBC.
Advances to Weaker
Sections
Advances to Weaker Sections stood at _ 7861.000 Millions as of 31st
March, 2012, with percentage to ANBC being 9.32.
Medium, Small &
Micro Enterprises (MSME) and Micro & Small Enterprises (MSE)
The Bank had recorded a phenomenal growth in these sections with
advances under MSME and Micro & Small Enterprises (MSE) standing at _ 17860.000 Millions
and _
13437.000
Millions, respectively with growth rates of 20.76 per cent and 12.22 per cent,
respectively over the previous financial year.
Minority Community
Advances
Total Minority Community advances of the Bank stood at _ 4113.000 Millions
constituting 4.88 per cent of ANBC.
Other Developments
The Bank had organized several credit camps throughout the country
to boost advances related to agriculture business. During the year 2011-12
the Bank had entered into MOU with different organizations like Ashok Leyland,
Bajaj Auto Ltd., National Collateral Management Services Ltd., etc. to lend
commercial vehicles and finance farmers against their Storage receipts. The
Bank had put serious emphasis on Govt.
ponsored schemes like PMEGP (Prime Minister Employment Guarantee
Programme), SGSY (Swarnajayanti Gram Swarozgar Yojana), SJSRY (Swarnajayanti
Shahari Rozgar Yojana), PMRY (Prime Minister Rozgar Yojana), SHG (Self Help
Group), JLG (Joint Liability Groups), etc. Gold loan scheme was also revised
and launched with a competitive structure to boost finance under Priority
Sector and Agriculture Business. Famers had been facilitated with credit
facilities through tie-up arrangement with sugar companies.
6.5. Financial
Inclusion:
In compliance with the directions given by the Government of India and
Reserve Bank of
The Bank had achieved a rare milestone in the field of Financial
Inclusion. During the year 2011-12, the target for the Bank was to cover 1703
unbanked villages having a population of 2000 plus each. The Bank had covered
all the villages within the stipulated time. In addition to that the bank has
covered 107 villages with a population of 1000-2000 each. Thus the Bank has
covered 1810 number of villages; and 639149 number of no –frill accounts were
opened in these villages.
The Bank has 24 “UCO Bank on Wheels” operating in 18 Zones. Under
ICT based BC Model, 47984 Smart cards had been issued to the customers. To
extend business in the field of Financial Inclusion the Bank had also opened 62
Ultra Small Branches (UCO MITRA SAKHA) in the unbanked villages under 11 Zones
in compliance with the latest guidelines of Government of India on Financial
Inclusion
10.FUTURE PLANS:
The year 2012-13 shall be the year of Retail Banking in both asset
and liability category for the Bank. However, the Bank shall continue to focus
on Recovery. The Bank shall be aiming at crossing two major milestones such as
total business of more than three lac crore rupees and branch network of more
than 2500 by March, 2013. The Bank shall also be focusing on more leveraging
technologies to make the Bank more user friendly by working through business
reengineering processes.
Contingent
Liabilities
a) Such liabilities as mentioned at Serial No. (I) of Schedule 12 of
Balance Sheet are dependent upon the judgement of court, arbitration award, out
of court settlement, disposal of appeals, the amount being called up, terms of
contractual obligations, devolvement and raising of demand by concerned
parties, respectively and necessary provision is made where claim against the
Bank is tenable.
b) Based on various appellate decisions on identical issues pending approval of Committee on Disputes for
pursuing appeals, disputed demand of Income Tax, Penalty, Interest and Interest
Tax amounting to _ 909.100 Millions (_ 106.600 Millions)
has been shown in Schedule 12 under Contingent Liability. No provision has been
considered necessary by the Management as the matters are pending for
appeal before various competent Authorities and payments/adjustment of _356.5000 Millions 106.500 Millions) has been included in Other
Assets in Schedule 11.
LIST OF EXECUTIVES POSTED AT
HEAD OFFICE AS ON 1ST JUNE 2012
|
Name: |
Designation |
Department |
|
S.C.DHOLE |
GM |
IT & FINANCIAL INCLUSION (TECHNOLOGY IMPLEMENTATION), HO |
|
P.K.DATTA |
GM |
FLAGSHIP CORP DEPT. & MID CORP DEPT., HO |
|
V.K. GUPTA |
GM |
STRATEGIC PLNG, GEN. ADMN. & OFFICIAL LANGUAGE DEPT.,
HO |
|
C.P. GUPTA |
GM |
OPERATIONS & SERVICES DEPT., RETAIL & e-BUSINESS,
HO |
|
RAJIV YADAV |
GM |
AUDIT & INSPECTION DEPT., HO |
|
H.DUTTA |
GM |
HUMAN RESOURCE MGMT DEPT. & PERSONNEL SERVICES DEPT., HO |
|
ANIL KUMAR |
GM |
RISK MANAGEMENT DEPT., CREDIT MONITORING & RECOVERY DEPT.,HO |
|
U.K.MISHRA |
GM |
AGRI & RURAL BUSINESS DEPT., HO |
|
A.C. SLATH |
GM |
MANAGEMENT AUDIT & HR AUDIT DEPT., HO |
|
U.N.MITRA |
GM |
TREASURY & INTERNATIONAL DEPT., HO |
|
R |
CVO |
VIGILANCE DEPT., HO |
|
R V VAIDYA |
DGM |
CMD'S SECRETARIAT, HO |
|
H P SATAPATHY |
DGM |
LAW DEPT. & COMPLIANCE DEPT., HO- INDEPENDENT CHARGE |
|
M KUMAR |
DGM |
FINANCIAL INCLUSION & ADHAAR, HO - INDEPENDENT CHARGE |
|
L.K.PANDA |
DGM |
CSC, KOLKATA |
|
SMT.R.BHATTACHARJEE |
DGM |
CORP COMMUNICATION DEPT., HO |
|
|
DGM |
AUDIT & INSPECTION, HO |
|
A.KUMAR |
DGM |
PERSONNEL SERVICES DEPT., HO |
|
A K SIKDAR |
DGM |
DEPT. OF INFORMATION TECHNOLOGY, HO |
|
R.K.MITTAL |
DGM |
RISK MANAGEMENT DEPT., HO |
|
D P PANDA |
DGM |
OPERATION & SERVICES DEPT., HO |
|
R.K.KHANNA |
DGM |
RECOVERY DEPT., HO - INDEPENDENT CHARGE |
|
G PANDA |
DGM |
RETAIL DEPT., HO |
|
R MUGHUNDAN |
DGM |
CREDIT MONITORING DEPT., HO |
|
A.V.R.REDDY |
DGM |
RETAIL DEPT., HO |
|
A SINHA |
DGM |
HUMAN RESOURCE MGMT DEPT., HO |
|
A.SARATCHANDRA |
DGM |
STRATEGIC PLANNING DEPT., HO |
|
A.K. SHARMA |
DGM |
FLAGSHIP CORP DEPT., HO |
|
R K CHATTANI |
DGM |
DEPT. OF INFORMATION TECHNOLOGY, HO |
|
B.P.SAMANTARAY |
DGM |
MID CORPORATE DEPT., HO |
|
R GANESHAN |
DGM |
AGRI & RURAL BUSINESS DEPT., HO |
|
C.RAMA |
DGM |
AGRI & RURAL BUSINESS DEPT., HO |
|
P.G.JOSHI |
DGM |
FINANCE DEPT., HO |
|
NISHITH MUKHERJEE |
AGM |
GENERAL ADMN DEPT., HO |
|
R.S.PRABHU |
AGM |
RETAIL DEPT., HO |
|
J.K .PATNAIK |
AGM |
CREDIT MONITORING DEPT., HO |
|
U.KUMAR |
AGM |
HUMAN RESOURCE MGMT DEPT., HO |
|
R.MEHTA |
AGM |
OPERATION & SERVICES DEPT., HO |
|
M.P.MISHRA |
AGM |
AUDIT & INSPECTION DEPT., HO |
|
T.A.SREENIVASA RAO |
AGM |
FLAGSHIP CORP DEPT., HO |
|
S.SATPATHY |
AGM |
AGRI & RURAL BUSINESS DEPT., HO |
|
S.L.DIXIT |
AGM |
HUMAN RESOURCE MGMT DEPT., HO |
|
S C SHARMA |
AGM |
RECOVERY DEPT., HO |
|
ARUN KUMAR |
AGM |
RISK MANAGEMENT DEPT., HO |
|
J L METLA |
AGM |
OPERATIONS & SERVICES DEPT., HO |
|
B |
AGM |
STRATEGIC PLANNING DEPT., HO |
|
A.GANGULY |
AGM |
HUMAN RESOURCE MGMT DEPT., HO |
|
R.S.DASGUPTA |
AGM |
AGRI & RURAL BUSINESS DEPT., HO |
|
I.BHASIN |
AGM |
GENERAL ADMN DEPT., HO |
|
P.C.AGGARWAL |
AGM |
AUDIT & INSPECTION DEPT., HO |
|
R.K.DUTTA |
AGM |
GENERAL ADMN DEPT., HO |
|
D MUKHOPADHYAY |
AGM |
TREASURY & INTERNATIONAL DEPT., HO |
|
P.L.ACHARYA |
AGM |
HUMAN RESOURCE MGMT DEPT., HO |
|
H.R.TEJANKAR |
AGM |
DEPT. OF INFORMATION TECHNOLOGY, HO |
|
N.RATH |
AGM |
RISK MANAGEMENT DEPT., HO |
|
P.K. DASH |
AGM |
DEPT. OF INFORMATION TECHNOLOGY, HO |
|
R.S.MANGAPATHY |
AGM |
VIGILANCE DEPT., HO |
|
G.N.UMAPATHI |
AGM |
DEPT. OF INFORMATION TECHNOLOGY, HO |
|
RAJEEV MOHAN |
AGM |
VIGILANCE DEPT., HO |
|
D.K.MIRDHA |
AGM |
TREASURY & INTERNATIONAL DEPT., HO |
|
JYOTI PRASAD GHOSH |
AGM |
PERSONNEL SERVICES DEPT., HO |
|
B.K.BHATTACHARYA |
AGM |
OPERATION & SERVICES DEPT., HO |
|
K.S.RAM MOHAN |
AGM |
PERSONNEL SERVICES DEPT., HO |
|
H.SINGH |
AGM |
FINANCIAL INCLUSION, HO |
|
N.R.KULKARNI |
AGM |
CREDIT MONITORING DEPT., HO |
|
C.PALANIAPPAN |
AGM |
TREASURY & INTERNATIONAL DEPT., HO |
|
R.K.MITTAL |
AGM |
RISK MANAGEMENT DEPT., HO |
|
R C GARG |
AGM |
AUDIT & INSPECTION DEPT., HO |
|
J.P.BADHAN |
AGM |
STRATEGIC PLANNING DEPT., HO |
|
SHANKAR KUMAR DAS |
AGM |
RECOVERY DEPT., HO |
|
T K KABIRAJ |
AGM |
RECOVERY DEPT., HO |
|
K |
AGM |
AGM, e-BUSINESS CELL, HO |
|
NIHARENDU JANA |
AGM |
FLAGSHIP CORP DEPT., HO |
|
S.S.CHAHANDE |
AGM |
FLAGSHIP CORP DEPT. (SYND.CELL), HO |
|
ARUN GUPTA |
AGM |
FLAGSHIP CORP DEPT., HO |
|
Smt. ASHA RAJIV |
AGM |
CMD'S SECRETARIAT, HO |
|
R.GOPALAKRISHNAN |
AGM |
RISK MANAGEMENT DEPT., HO |
|
U C SAXENA |
AGM |
HUMAN RESOURCE MGMT DEPT., HO |
|
R K WALVI |
AGM |
AGRI & RURAL BUSINESS DEPT., HO |
|
B C ROUT |
AGM |
MANAGEMENT AUDIT & HR AUDIT DEPT., HO |
|
D K CHAKRABORTY |
AGM |
FINANCE DEPT., HO |
|
A.BOSE |
AGM |
GENERAL ADMN DEPT., HO |
|
R.DUBEY |
AGM |
DEPT. OF INFORMATION TECHNOLOGY, HO |
|
S.R.NAYAK |
AGM |
DEPT. OF INFORMATION TECHNOLOGY, HO |
|
|
AGM |
GENERAL ADMN DEPT., HO |
|
A.C.GHOSH |
CM |
ED-II SECRETARIAT, HO |
|
S.K. SHARMA |
CM |
PERSONNEL SERVICES DEPT., HO |
|
P.C.BEHARA |
CM |
COMPLIANCE DEPT., HO |
|
B.MUKHOPADHYAY |
CM |
STRATEGIC PLANNING DEPT., HO |
|
A.K.KOLE |
CM |
ED-I SECRETARIAT, HO |
|
G.S.SHARMA |
CM |
OPERATIONS & SERVICES DEPT., HO |
|
K.R.V.SUBRAMANIAN |
CM |
VIGILANCE DEPT., HO |
|
H.RAJ CHOWDHURY |
CM |
OPERATIONS & SERVICES DEPT., HO |
|
S |
CM |
MANAGEMENT AUDIT & HR AUDIT DEPT., HO |
|
P.K.PAN |
CM |
FINANCIAL INCLUSION, HO |
|
|
CM |
FLAGSHIP CORP DEPT., HO |
|
T.N.SHARMA |
CM |
PERSONNEL SERVICES DEPT., HO |
|
M.JAYARAJ |
CM |
RECOVERY DEPT., HO |
|
P.THIAGARAJAN |
CM |
RISK MANAGEMENT DEPT., HO |
|
S.C.DAS |
CM |
RETAIL DEPT., HO |
|
V.K.M.GAJBHIYE |
CM |
RETAIL DEPT., HO |
|
N.SAXENA |
CM |
RETAIL DEPT., HO |
|
DALIP SINGH |
CM |
OPERATIONS & SERVICES DEPT., HO |
|
TARUN KANTI DEY |
CM |
DEPT. OF INFORMATION TECHNOLOGY, HO |
|
H D SHARMA |
CM |
STRATEGIC PLANNING DEPT., HO |
|
R.K.N GOEL |
CM |
AUDIT & INSPECTION DEPT., HO |
|
K.C.MENON |
CM |
AUDIT & INSPECTION DEPT., HO |
|
SUDARSHAN SOOD |
CM |
GENERAL ADMN DEPT., HO |
|
D |
CM |
DEPT. OF INFORMATION TECHNOLOGY, HO |
|
VIJAY KUMAR |
CM |
OPERATIONS & SERVICES DEPT., HO |
|
D K GHOSH |
CM |
CORPORATE VISION, HO |
|
S |
CM |
DEPT. OF INFORMATION TECHNOLOGY, HO |
|
Rajendra Kumar Chhab |
CM |
CORP COMMUNICATION DEPT., HO |
|
B.S. Ramprakash |
CM |
OPERATIONS & SERVICES DEPT., HO |
|
J.Ramachandran |
CM |
FINANCE DEPT., HO |
|
V.ALAGESAN |
CM |
CSC, KOLKATA |
|
MAINAK ROYGUPTA |
CM |
PERSONNEL SERVICES DEPT., HO |
|
|
CM |
DEPT. OF INFORMATION TECHNOLOGY, HO |
|
Ramesh Ch Nayak |
CM |
AUDIT & INSPECTION DEPT., HO |
|
P K C Dash |
CM |
PERSONNEL SERVICES DEPT., HO |
|
S.M.Mukhopadhyay |
CM |
MID CORPORATE DEPT., HO |
|
C.K.SARKAR |
CM |
RISK MANAGEMENT DEPT., HO |
|
D.N.ASHAR |
CM |
GENERAL ADMN DEPT., HO |
|
M.NAZEER |
CM |
TREASURY & INTERNATIONAL DEPT., HO |
|
G.B.PARIDA |
CM |
RETAIL DEPT., HO |
|
P.K.CHAND |
CM |
HUMAN RESOURCE MGMT DEPT., HO |
|
RAM KUMAR |
CM |
FLAGSHIP CORP DEPT., HO |
|
|
CM |
DEPT. OF INFORMATION TECHNOLOGY, HO |
|
U.K.GARG |
CM |
HUMAN RESOURCE MGMT DEPT., HO |
|
K.K.VERMA |
CM |
MANAGEMENT AUDIT & HR AUDIT DEPT., HO |
|
I |
CM |
MID CORPORATE DEPT., HO |
|
R.C.PATRA |
CM |
AGRI & RURAL BUSINESS DEPT., HO |
|
N.JOARDAR |
CM |
PERSONNEL SERVICES
DEPT., HO |
|
M.S.SEKAR |
CM |
RECOVERY DEPT., HO |
|
V.S.RANA |
CM |
VIGILANCE DEPT., HO |
|
HARI SHANKAR |
CM |
PERSONNEL SERVICES DEPT., HO |
|
|
CM |
FINANCE DEPT., HO |
|
P CHAKRABORTY |
CM |
GENERAL ADMN DEPT., HO |
|
T SEN |
CM |
GENERAL ADMN DEPT., HO |
|
MANAS KUMAR DAS |
CM |
DEPT. OF INFORMATION TECHNOLOGY, HO |
|
SANTANU GHOSH |
CM |
DEPT. OF INFORMATION TECHNOLOGY, HO |
|
MOHAMMAD SABIR |
CM |
DEPT. OF INFORMATION TECHNOLOGY, HO |
|
MOTI LAL BANOTH |
CM |
DEPT. OF INFORMATION TECHNOLOGY, HO |
|
ANANDAM PRAKASAM |
CM |
DEPT. OF INFORMATION TECHNOLOGY, HO |
|
AJOY KUMAR |
CM |
STRATEGIC PLANNING DEPT., HO |
|
S.K.PRASAD |
CM |
MANAGEMENT AUDIT & HR AUDIT DEPT., HO |
|
C. SUDHIR KUMAR |
CM |
LAW DEPT., HO |
|
V K YADAV |
CM |
STRATEGIC PLANNING DEPT., HO |
|
A B DAS GUPTA |
CM |
CENTRAL SECURITY (GENERAL ADMN. DEPT.), HO |
|
|
|
|
Profile:
Heritage
The idea of a truly Indian bank was first conceived of by Mr. G.D Birla, the doyen of Indian Industrial renaissance, after the historic "Quit India" movement in 1942. Soon this nascent idea came into reality and, on the 6th of January 1943, The United Commercial Bank Ltd. was born with its Registered and Head Office at Kolkata. The very first Board of Directors was represented by eminent personalities of the country drawn from all walks of life, and this all-India character of the Bank has been assiduously maintained till this day not only in the composition of its Board but also in the geographical spread of its 1700 odd branches in the country as well as in its overseas centres in Singapore and Hong Kong.
Having traversed periods of expansion and consolidation, the Bank was nationalized by the Government of India on the 19th July 1969 whereupon 100 per cent ownership was taken over by the government in UNITED COMMERCIAL BANK. This historic event brought about a sea-change in the entire fabric of the bank's thinking and activities, commensurate with the government's socio-political approach of mass banking as against class banking hitherto practised. Branch expansion started at a fast pace, particularly in rural areas, and the bank achieved several unique distinctions in Priority Sector lending and other social upliftment activities. To keep pace with the developing scenario and expansion of business, the Bank undertook an exercise in organizational restructuring in the year 1972. This resulted into more functional specialization, decentralization of administration and emphasis on development of personnel skill and attitude. Side by side, whole hearted commitment into the government's poverty alleviation programmes continued and the convenorship of State Level Bankers' Committee (SLBC) was entrusted on the Bank for Orissa and Himachal Pradesh in 1983.
The year 1985 opened a new chapter for the Bank as the name
of the Bank changed to UCO BANK by an Act of Parliament. The customer friendly
and socially committed character, however, remained even with this change in name
which has, over the years, been regarded as one of the well known and vibrant
banks in the country. Today, with all its inner strengths, UCO Bank has come a
long way to symbolize friendliness for customers and efficiency in its banking
business. Truly, UCO Bank HONOURS YOUR
TRUST.
|
Corporate General Managers |
||
|
Sr. No. |
Name: |
Email Id |
|
1 |
|
|
|
2 |
Shri U.N.Mitra
|
|
|
3 |
Shri P.K. Datta
|
|
|
4 |
Shri C. P. Gupta
|
gmretail.calcutta@ucobank.co.in |
|
5 |
Shri Himadri Dutta
|
|
|
6 |
Shri P. K. Datta
|
|
|
7 |
Shri V.K. Gupta
|
|
|
8 |
Shri R.S. Chaudhuri
|
|
|
9 |
Shri V. K. Gupta |
|
|
10 |
Shri Rajiv Yadav
|
|
|
11 |
Shri Himadri Dutta
|
|
|
12 |
Shri C.P.Gupta
|
|
|
13 |
Shri U.K.Mishra
|
hopscredit.calcutta@ucobank.co.in |
|
14 |
Shri A.C.Slath
|
|
|
15 |
Shri R. Prabaharan
|
|
|
16 |
Shri Anil Kumar
|
|
|
Circle Heads GMs/DGMs |
||
|
Sr. No. |
Name: |
Email Id |
|
1 |
ShriN.Mohanty |
|
|
2 |
Shri S.K. Dey Purkayastha General Manager, Circle |
fgm.orissa@ucobank.co.in |
|
3 |
Shri C.K.Mukherjee General Manager, Circle |
fgm.calcutta1@ucobank.co.in |
|
4 |
Shri B.V.Ramanna General Manager, Circle |
fgm.mumbai@ucobank.co.in |
|
5 |
Shri P.N. Verma General Manager, Circle |
|
|
6 |
Shri N.R.Das Dy.General Manager, Circle |
|
|
7 |
Shri A. Jaiswal Dy.General Manager, Circle |
fgm.ahmedabad@ucobank.co.in |
|
8 |
Shri S. K. Kakkar General Manager, Circle |
fgm.chng@ucobank.co.in |
PRESS RELEASE
Global business crosses Rs.2.71 lac crore
Net Profit for FY2011-12 surges 22.3% YoY to reach Rs.1109 crore
UCO Bank's Performance Highlights
Global Business of the Bank registered a YoY growth of 10.44% during the FY’12 to reach Rs. 2,71508.000 Millions as on 31.03.2012 (Rs. 2,45839.000 Millions as on 31.03.2011).
The total deposit of the bank rose by 6.01% YoY to reach Rs. 1,54003.000 Millions as on 31.03.2012 (Rs. 145278.000 Millions as on 31.03.2011).
The advances of the bank rose sharply by 16.85% to reach Rs. 117504.000 Millions on 31.03.2012 as against Rs. 100561.000 Millions on 31.03.2011.
PERFORMANCE : Q4 FY’12 versus Q4 FY’11
PERFORMANCE :
FY’12 versus FY’11
·
Operating profit of the
bank during FY’12 rose by 4.32% YoY to reach Rs.
2811.000 Millions (Rs. 2,695 Millions).
·
Net profit rose sharply
by 22.30% to reach Rs. 1109.000 Millions in
FY’12 as against Rs.907.000 Millions in
FY11.
·
Net Interest Income moved
up by 1.49% to Rs. 3902.000 Millions in FY’12
against Rs. 3845.000 Millions in FY’11.
·
The Cost to Income ratio
came down to 42.24% during the current
financial year from 43.51% last year.
·
Average Cost of deposit
for FY’12 stood at 7.30% against 5.74% in FY11.
·
Average Yield on Advances
during FY’12 was 11.28% against 10.00% in FY11.
·
Our CASA deposit rose 7% YoY to reach Rs. 33867.000 Millions as on 31.03.2012 (Rs.
31652.000 Millions). The share of CASA percentage against domestic
deposit stood at 23.85% in March’12 against 23.20% in March’11.
·
Credit Deposit Ratio
stood at 76.30 % as on Mar’12 against 69.22%
as on Mar’11.
·
Global Net Interest Margin (annualized) was 2.77% during FY’12.
The domestic NIM stood at 2.95%.
·
GNPA ratio stood at 3.48
% on 31.03.12 against 3.13% on 31.03.11. However GNPA
stood at 3.50% as on June’11, 3.64% as on Sept’11 and 3.49% as on Dec’11. Thus,
after reaching 3.64% in Sep’11, it has now come down to 3.48%.
·
NNPA ratio stood at 1.96% on 31.03.12 against 1.84% on 31.03.11. However NNPA stood
at 2.15% as on June’11, 2.11% as on Sept’11 and 2.04% as on Dec’11. Thus, after
reaching 2.15% in Jun’11, it has now come down to 1.96%.
·
Book value of share (annualized) has reached Rs.94.72 on
31.3.12 from Rs. 83.16 as on 31.03.11
registering YoY growth of 13.90%.
·
Earning per share (annualized) improved to Rs. 15.02 on 31.03.12. from Rs. 14.29
on 31.3.11 registering YoY growth of 5.11%.
·
CAR of the bank was
comfortable at 12.35 % under BASEL-II (Tier-I
Capital: 8.09%; Tier-II Capital: 4.26%).
·
Other income rose by 4.43
% to reach Rs. 966.000 Millions for the FY’12
against Rs.925.000 Millions in FY’11. Profit on sale of investments during FY’12 at Rs. 196.000 Millions improved by 115%
over last year which was Rs. 91.000 Millions.
MAJOR INITIATIVES
Technology
Initiatives
·
Online payment of Custom Duty has been
implemented for e-Banking users.
·
Facility of PPF deposits at any
authorized branch anywhere in
·
All RRB Branches are on CBS platform
and NEFT/RTGS enabled.
·
Central Electronic Registry of
Securitisation Asset Reconstruction and Security Interest (CERSAI)
facility made available to branches.
Financial
Inclusion Initiatives
·
1.20 lacs accounts opened through ICT
based FI project and 45,000 Smart Cards issued so far to beneficiaries.
·
Opened 62 Ultra Small branches with CBS
connectivity.
Business
Development Initiatives
Major Process
Changes:
·
130 Branches opened in Q4FY’12 taking
total branches opened in FY’12 to 188.
·
Opened 13 new Retail Loan Hubs taking
the total RLHs to 39.
·
Opened 4
·
Opened 12 SME Loan Hubs during FY
2011-12
Organizational
Changes:
·
2 new Circle Offices opened at
·
5 new Zonal Offices opened taking the
total to 40.
New Liability
Products introduced:
·
UCO Vasantha Bonanza –
Term Deposit for 100 days @ 9%
·
UCO Sowbhagya Scheme – A
variable RD Scheme
·
UCO Suvidha Salary Account –
Introduced at all Zones
New Asset Products
introduced:
·
UCO Gold Loan Scheme –
for financing Retail Asset Product under both Priority and Non-Priority Sectors
Customer Centric
Initiatives
·
To boost Retail business, interest
rates were reduced on UCO Home and Car loans.
·
Acquired 0.547 Millions CASA Customers
in Q4’12 taking the total number of CASA customers acquired in FY’12 to 1.853
Millions.
·
114 ATMs installed in Q4 FY’12 taking
the total for FY’12 to 256.
·
VISA Debit Cards issued in Q4 FY’12 was
0.156 Millions and during the whole FY’12 0.562 Millions.
·
Launched Personalized UCO Visa Debit Card – Gold, Platinum and Signature.
·
Permission to open ECCS Clearing Centre
at Mecheda received from RBI.
·
E-payment of State Govt. taxes
implemented for Maharashtra, UP and
·
Payment of Salary of WB. Govt. employees
through ECS implemented
·
Registration for New Pension Scheme
obtained from Pension Fund Regulatory and Development Authority
·
2568 recovery camps organized in Q4FY12
taking total for the year to 7117.
Socio-economic
Initiatives
·
8 Agri Credit Camps organized in Q4FY12
taking total such camps to 20 in the FY.
·
MOU signed with National Collateral
Management Services Ltd. for financing Farmers against their Storage Receipts
·
New Scheme for Financing Arthias
introduced for increasing lending under Indirect Finance to Agriculture.
HR Initiatives
During the Financial year 755 officers comprising MBAs, IT officers and
probationary officers were recruited. 866 clerks were also recruited during the
financial year.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.53 |
|
|
1 |
Rs.88.09 |
|
Euro |
1 |
Rs.70.83 |
INFORMATION DETAILS
|
Report Prepared
by : |
BYI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
61 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.