Mumbai, Aug. 8 -- UCO Bank on Thursday said its first-quarter net loss narrowed on the back of higher net interest income. The bank posted a net loss of Rs.601.45 crore for the three months ended 30 June, against a loss of Rs.633.88 crore in the year-ago period.
Net interest income, or the difference between interest earned on loans and that paid on deposits, increased 8.71% to Rs.1,334.97 crore, from Rs.1,228.02 crore in the corresponding period last year.
Other income, which includes core fee income, rose 0.16% to Rs.630.08 crore in the first quarter, from Rs.629.08 crore a year ago.
Provisions during the quarter increased 1.21% to Rs.1,802.89 crore, against Rs.1,781.28 crore in the year-ago quarter. During the previous January-March q...