It is a broadly described annual report of UCO Bank in the year of 2010-2011. During the financial year, The Bank received the contribution of Rs. 940 Crore towards equity share capital from Government of India and allotted 7,81,57,479 equity shares of Rs.10/- each at issue price of Rs. 120.27. Domestic business of the Bank improved by 15.56% from Rs. 90 Crore as of 31st March 2010 to Rs. 104 Crore as of 31st March 2011. Domestic deposits improved from Rs. 54 Crore to Rs. 62 Crore while advances improved from Rs. 36 Crore to Rs. 42 Crore during the year. The operating profit of the Bank increased by Rs. 989.33 Crore, thereby registering a Y-o-Y growth of 58% and stood at Rs. 2694.96 Crore. The net profit of the Bank had slipped over the previous year by 10.44% and stood at Rs. 906.54 Crore.
The Board of Directors of the Bank has proposed a dividend at the rate of Rs. 2/- per equity share. Subsequently, on receiving directives from GOI reiterating to pay a minimum dividend of 20% on equity or 20% of post-tax profit whichever is higher.
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