1. Home
  2.  |  
  3. Economy Current Affairs  |  

UCO Bank registered highest increase in gross Non-Performing Assets

Oct 6, 2015 16:01 IST

UCO Bank on 4 October 2015 registered the highest increase in gross Non-Performing Assets (NPAs) in percentage terms against total loans in the 2014-15 fiscal year. With this, UCO Bank became the worst performer among the other public sector banks.

The Gross NPA to gross advances ratio of UCO Bank increased to 8.05 percent at the end of March 2015 from 4.47 percent, accretion of 3.58 on an annual basis.

The UCO Bank was followed by Indian Overseas Bank (IOB) and Bank of Maharashtra (BoM) with their gross NPA rising to 8.30 percent and 6.18 percent respectively at the end of March 2015. Besides, the gross NPA of Dena Bank increased from 3.33 percent to 5.29 percent at the end of 2014-15.

At the same time, Corporation Bank's gross NPA level rose from 3.42 percent to 4.80 per cent at the end of March 2015, showing an accretion of 1.38 over the previous fiscal.

Rising NPA has hit the bottom-line of banks and to strengthen their balance-sheet the government is providing 25000 rupees capital support in the current fiscal.

About Non Performing Assets
Banks usually classify any commercial loans as Non-Performing Assets which are overdue for more than 90 days and any consumer loans which are overdue for more than 180 days. More generally, NPA are those assets that are not producing any income.

Now get latest Current Affairs on mobile, Download # 1  Current Affairs App

Is this article important for exams ? Yes19 People Agreed

Register to get FREE updates

    All Fields Mandatory
  • (Ex:9123456789)
  • Please Select Your Interest
  • Please specify

  • ajax-loader
  • A verifcation code has been sent to
    your mobile number

    Please enter the verification code below

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK