UCO Bank

UCO Bank's npls (as % of loans) rose 20.7% to 30.1% in 2018

By Helgi Analytics - November 2, 2019

UCO Bank's non-performing loans reached 30.1% of total loans at the end of 2018, up from 24.9% compared to the previous year. ...

UCO Bank's net profit rose 2.60% to INR -43.2 bil in 2018

By Helgi Analytics - November 2, 2019

UCO Bank made a net profit of INR -43.2 bil under revenues of INR 58.2 bil in 2018, up 2.60% and 37.0% respectively compared to the p...

UCO Bank's net interest margin rose 38.0% to 1.93% in 2018

By Helgi Analytics - November 2, 2019

UCO Bank's net interest margin amounted to 1.93% in 2018, up from 1.40% compared to the previous year. Historically, the b...

Profit Statement 2016 2017 2018
Net Interest Income INR bil 38.3 31.3 43.2
Net Fee Income INR bil 1.84 1.83 2.33
Other Income INR bil 19.2 9.29 12.7
Total Revenues INR bil 59.3 42.5 58.2
Operating Profit INR bil 26.2 30.9 41.8
Provisions INR bil 44.6 75.2 84.9
Net Profit INR bil -18.5 -44.4 -43.2
Balance Sheet 2016 2017 2018
Interbank Loans INR bil 93.1 66.2 156
Customer Loans INR bil 1,197 1,075 993
Debt Securities INR bil 738 708 821
Total Assets INR bil 2,313 2,161 2,305
Shareholders' Equity INR bil 128 150 174
Interbank Borrowing INR bil 0.871 0.827 0.719
Customer Deposits INR bil 2,013 1,818 1,979
Issued Debt Securities INR bil 95.3 124 83.2
Ratios 2016 2017 2018
ROE % -14.6 -32.0 -26.7
ROA % -0.777 -1.98 -1.94
Costs (As % Of Assets) % 1.39 0.516 0.733
Costs (As % Of Income) % 55.9 27.2 28.1
Capital Adequacy Ratio % 10.9 10.9 10.7
Net Interest Margin % 1.61 1.40 1.93
Loans (As % Of Deposits) % 59.5 59.1 50.2
NPLs (As % Of Loans) % 17.3 24.9 30.1
Provisions (As % Of NPLs) % 46.4 49.4 0.006
Valuation 2016 2017 2018
Market Capitalisation (End Of Period) USD mil 830 782 1,461
Share Price (End Of Period) INR 40.5 28.3 26.3
Price/Earnings (P/E) ... ... ...
Price/Book Value (P/BV) 0.442 0.333 0.586
Dividend Yield % 0 0 0
Earnings Per Share (EPS) INR -13.3 -25.2 -11.2
Book Value Per Share INR 91.6 85.0 44.9
Dividend Per Share INR 0 0 0

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summary Unit 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
income statement                                    
Net Interest Income INR bil                       45.9 60.7 55.7 48.6 38.3    
Total Revenues INR bil                       55.3 73.8 75.7 64.4 59.3    
Operating Profit INR bil                       24.8 35.3 35.0 33.9 26.2    
Net Profit INR bil                       6.18 15.1 11.4 -28.0 -18.5    
balance sheet                                    
Interbank Loans INR bil                       66.4 69.6 139 106 93.1    
Customer Loans INR bil                       1,283 1,496 1,474 1,259 1,197    
Debt Securities INR bil                       521 673 687 838 738    
Total Assets INR bil                       1,987 2,391 2,459 2,449 2,313    
Shareholders' Equity INR bil                       96.8 112 125 125 128    
Interbank Borrowing INR bil                       2.46 1.60 1.15 0.934 0.871    
Customer Deposits INR bil                       1,734 1,995 2,143 2,071 2,013    
Issued Debt Securities INR bil                       94.9 207 103 172 95.3    
ratios                                    
ROE %                       6.76 14.4 9.57 -22.3 -14.6    
ROA %                       0.326 0.690 0.469 -1.14 -0.777    
Costs (As % Of Assets) %                       1.61 1.76 1.67 1.24 1.39    
Costs (As % Of Income) %                       55.2 52.1 53.7 47.4 55.9    
Capital Adequacy Ratio %   ... ... ...               14.2 12.7 12.2 9.63 10.9    
Net Interest Margin %                       2.42 2.77 2.30 1.98 1.61    
Interest Income (As % Of Revenues) %                       83.0 82.3 73.6 75.4 64.6    
Fee Income (As % Of Revenues) %                       4.58 3.16 3.51 2.22 3.11    
Equity (As % Of Assets) %                       4.87 4.69 5.10 5.11 5.51    
Loans (As % Of Deposits) %                       74.0 75.0 68.7 60.8 59.5    
Loans (As % Assets) %                       64.6 62.6 59.9 51.4 51.8    
NPLs (As % Of Loans) %                       5.44 4.34 6.82 15.6 17.3    
Provisions (As % Of NPLs) % ... ... ... ... ...             39.5 42.6 31.7 38.3 46.4    
valuation                                    
Market Capitalisation (End Of Period) USD mil ...                     766 1,198 1,090 629 830    
Number Of Shares (Average) mil ...                     670 777 1,016 1,076 1,392    
Share Price (End Of Period) INR ...                     62.6 95.3 67.7 38.8 40.5    
Earnings Per Share (EPS) INR ...                     9.22 19.4 11.2 -26.0 -13.3    
Book Value Per Share INR ...                     144 144 124 116 91.6    
Dividend Per Share INR ...                     1.80 1.31 2.12 0 0    
Price/Earnings (P/E) ...                     6.79 4.90 6.04 ... ... ... ...
Price/Book Value (P/BV) ...                     0.433 0.659 0.548 0.333 0.442    
Dividend Yield % ... ...                   2.87 1.37 3.13 0 0    
Earnings Per Share Growth % ... ...                   -47.8 111 -42.4 -332 -48.9    
Book Value Per Share Growth % ... ...                   5.24 0.057 -14.5 -5.79 -21.3    
income statement Unit 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
income statement                                    
Interest Income INR bil                       168 182 194 186 163    
Interest Cost INR bil                       122 122 138 137 125    
Net Interest Income INR bil                       45.9 60.7 55.7 48.6 38.3    
Net Fee Income INR bil                       2.54 2.33 2.66 1.43 1.84    
Other Income INR bil                       6.89 10.8 17.3 14.4 19.2    
Total Revenues INR bil                       55.3 73.8 75.7 64.4 59.3    
Operating Cost INR bil                       30.6 38.5 40.6 30.5 33.1    
Operating Profit INR bil                       24.8 35.3 35.0 33.9 26.2    
Provisions INR bil                       18.3 18.1 19.2 61.7 44.6    
Extra and Other Cost INR bil                       -0.005 -0.005 -0.007 -0.010 -0.004    
Pre-Tax Profit INR bil                       6.47 17.2 15.8 -27.8 -18.4    
Tax INR bil                       0.286 2.14 4.44 0.201 0.108    
Minorities INR bil                       0 0 0 0 0    
Net Profit INR bil                       6.18 15.1 11.4 -28.0 -18.5    
Dividends INR bil                       1.20 1.01 2.15 0 0    
growth rates                                    
Net Interest Income Growth % ...                     17.4 32.2 -8.21 -12.8 -21.2    
Net Fee Income Growth % ...                     6.54 -8.00 13.9 -46.2 29.1    
Total Revenue Growth % ...                     13.7 33.4 2.52 -14.8 -7.95    
Operating Cost Growth % ...                     17.5 25.9 5.59 -24.8 8.54    
Operating Profit Growth % ...                     9.30 42.6 -0.812 -3.21 -22.8    
Pre-Tax Profit Growth % ...                     -43.8 167 -8.25 -276 -33.8    
Net Profit Growth % ...                     -44.2 144 -24.7 -346 -33.9    
market share                                    
Market Share in Revenues % ... ... ... ... ... ... ... ... ... ...   2.34 2.74 2.49 1.91 1.47   ...
Market Share in Net Profit % ... ... ... ... ... ... ... ... ... ...   1.04 2.80 2.09 ... ... ... ...
balance sheet Unit 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
balance sheet                                    
Cash INR bil                       57.1 80.5 82.7 79.5 87.9    
Interbank Loans INR bil                       66.4 69.6 139 106 93.1    
Customer Loans INR bil                       1,283 1,496 1,474 1,259 1,197    
Debt Securities INR bil                       521 673 687 838 738    
Fixed Assets INR bil                       8.90 10.6 11.1 28.8 28.5    
Total Assets INR bil                       1,987 2,391 2,459 2,449 2,313    
Shareholders' Equity INR bil                       96.8 112 125 125 128    
Of Which Minority Interest INR bil                       0 0 0 0 0    
Liabilities INR bil                       1,890 2,279 2,334 2,324 2,186    
Interbank Borrowing INR bil                       2.46 1.60 1.15 0.934 0.871    
Customer Deposits INR bil                       1,734 1,995 2,143 2,071 2,013    
Sight Deposits INR bil                       260 253 1,514 204 117    
Term Deposits INR bil                       1,475 1,742 629 1,867 1,896    
Issued Debt Securities INR bil                       94.9 207 103 172 95.3    
Other Liabilities INR bil                       58.0 74.9 86.6 79.1 76.8    
asset quality                                    
Non-Performing Loans INR bil                       71.3 66.2 103 209 225    
Gross Loans INR bil                       1,311 1,524 1,506 1,339 1,302    
Total Provisions INR bil ... ... ... ... ...             28.2 28.2 32.6 80.0 105    
growth rates                                    
Customer Loan Growth % ...                     11.0 16.6 -1.49 -14.6 -4.91    
Total Asset Growth % ...                     10.1 20.4 2.84 -0.421 -5.53    
Shareholders' Equity Growth % ...                     12.4 15.9 11.8 -0.215 1.85    
Customer Deposit Growth % ...                     12.6 15.1 7.42 -3.37 -2.82    
market share                                    
Market Share in Customer Loans % ... ... ...                 2.32 2.33 2.08 1.58 1.45   ...
Market Share in Total Assets %                       2.29 2.36 2.21 1.94 1.63   ...
Market Share in Customer Deposits %                       2.76 2.77 2.63 2.27 1.89   ...
ratios Unit 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
ratios                                    
ROE %                       6.76 14.4 9.57 -22.3 -14.6    
ROA %                       0.326 0.690 0.469 -1.14 -0.777    
Costs (As % Of Assets) %                       1.61 1.76 1.67 1.24 1.39    
Costs (As % Of Income) %                       55.2 52.1 53.7 47.4 55.9    
Capital Adequacy Ratio %   ... ... ...               14.2 12.7 12.2 9.63 10.9    
Tier 1 Ratio %                       9.05 8.71 9.05 7.63 8.27    
Net Interest Margin %                       2.42 2.77 2.30 1.98 1.61    
Interest Spread % ...                     2.10 2.49 2.00 1.68 1.31    
Asset Yield %                       8.84 8.33 7.99 7.57 6.86    
Cost Of Liabilities % ...                     6.75 5.84 5.98 5.89 5.55    
Payout Ratio %                       19.5 6.72 18.9 0 0    
Interest Income (As % Of Revenues) %                       83.0 82.3 73.6 75.4 64.6    
Fee Income (As % Of Revenues) %                       4.58 3.16 3.51 2.22 3.11    
Other Income (As % Of Revenues) %                       12.5 14.6 22.8 22.3 32.3    
Equity (As % Of Assets) %                       4.87 4.69 5.10 5.11 5.51    
Loans (As % Of Deposits) %                       74.0 75.0 68.7 60.8 59.5    
Loans (As % Assets) %                       64.6 62.6 59.9 51.4 51.8    
NPLs (As % Of Loans) %                       5.44 4.34 6.82 15.6 17.3    
Provisions (As % Of NPLs) % ... ... ... ... ...             39.5 42.6 31.7 38.3 46.4    
Provisions (As % Of Loans) % ... ... ... ... ...             2.20 1.89 2.21 6.36 8.73    
Cost of Provisions (As % Of Loans) %                       1.50 1.30 1.29 4.52 3.63    
other data Unit 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
other data                                    
Sight (As % Of Customer Deposits) %                       15.0 12.7 70.7 9.85 5.80    

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UCO Bank's capital adequacy ratio fell 2.19% to 10.7% in 2018

By Helgi Analytics - November 2, 2019

UCO Bank's capital adequacy ratio reached 10.7% at the end of 2018, down from 10.9% compared to the previous year. Historically, the bank’s capital ratio hit an all time high of 21.7% in 2008 and an all time low of 9.63% in 2015. The Tier 1 ratio amounted to ...

UCO Bank's customer loan growth rose 25.9% to -7.59% in 2018

By Helgi Analytics - November 2, 2019

UCO Bank's customer loan growth reached -7.59% in 2018, up from -10.2% compared to the previous year. Historically, the bank’s loans growth reached an all time high of 38.0% in 2004 and an all time low of -14.6% in 2015. In the last decade, the average an...

UCO Bank's net interest income rose 37.8% to INR 43.2 bil in 2018

By Helgi Analytics - November 2, 2019

UCO Bank generated total banking revenues of INR 58.2 bil in 2018, up 37% compared to the previous year. Historically, the bank’s revenues containing of interest, fee and other non-interest income reached an all time high of INR 75.7 bil in 2014 and an all time...

UCO Bank's customer deposits rose 8.83% to INR 1,818 bil in 2018

By Helgi Analytics - November 2, 2019

UCO Bank's customer deposits reached INR 1,818 bil in 2017, down 9.66% compared to the previous year. Indian banking sector accepted customer deposits of INR 110,303 bil in 2017, up 3.61% when compared to the last year. UCO Bank accounted for 1.65% of all...

UCO Bank's total revenues rose 37.0% to INR 42.5 bil in 2018

By Helgi Analytics - November 2, 2019

UCO Bank generated total banking revenues of INR 42.5 bil in 2017, down 28.4% compared to the previous year. Indian banking sector banking sector generated total revenues of INR 4,320,359 mil in 2017, up 7.41% when compared to the last year. As ...

UCO Bank's customer loans fell 7.59% to INR 1,075 bil in 2018

By Helgi Analytics - November 2, 2019

UCO Bank's customer loans reached INR 1,075 bil in 2017, down 10.2% compared to the previous year. Indian banking sector provided customer loans of INR 88,362 bil in 2017, up 7.04% when compared to the last year. UCO Bank accounted for 1.22% of all custom...

UCO Bank's price/earnings (P/E) rose 23.3% to 6.04 in 2014

By Helgi Analytics - November 2, 2019

UCO Bank stock traded at INR 67.7 per share at the end 2014 implying a market capitalization of USD 1,090 mil. Since the end of 2009, the stock has appreciated by 19.8 % implying an annual average growth of 3.68 %. In absolute terms, the value of the company rose...

UCO Bank's share price (end of period) fell 7.07% to INR 67.7 in 2018

By Helgi Analytics - November 2, 2019

UCO Bank stock traded at INR 67.7 per share at the end of 2014 implying a market capitalization of USD 1,090 mil. Since the end of 2009, the stock has appreciated by 19.8 % implying an annual average growth of 3.68 %. In absolute terms, the value of the company r...

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Finance

UCO Bank has been growing its revenues and asset by 8.12% and 7.52% a year on average in the last 10 years. Its loans and deposits have grown by 3.74% and 7.04% a year during that time and loans to deposits ratio reached 50.2% at the end of 2018. The company achieved an average return on equity of -1.47% in the last decade with net profit growing % a year on average. In terms of operating efficiency, its cost to income ratio reached 28.1% in 2018, compared to 47.7% average in the last decade.

Equity represented 7.55% of total assets or 17.5% of loans at the end of 2018. UCO Bank's non-performing loans were 30.1% of total loans while provisions covered some 0.006% of NPLs at the end of 2018.

Valuation

UCO Bank stock traded at INR 26.3 per share at the end of 2018 resulting in a market capitalization of USD 1,461 mil. Over the previous five years, stock price fell by 72.3% or 22.7% a year on average. That’s compared to an average ROE of -17.2% the bank generated for its shareholders. This closing price put stock at a 12-month trailing price to earnings (PE) of x and price to book value (PBV) of 0.586x in 2018.