UCO Bank Q1 FY26: From ICU to UCO — The Underdog PSU That Refused to Die
1. At a Glance
UCO Bank just posted a ₹607 Cr PAT in Q1 FY26 with GNPA falling to 2.63%. From being the walking meme of NPAs, this PSU bank is now strutting around like a reform story. Still trading at just 1.25x book value, while larger peers rally.
2. Introduction with Hook
Remember when UCO Bank was synonymous with “Under Capitalized Organisation”? Fast forward to Q1 FY26 — GNPA down to 2.63%, PAT above ₹600 Cr, and capital adequacy of 18.39%.
Last 5 years PAT CAGR: 25%
3-year stock CAGR: 40%
10-year ROE: LOL. But last year? 8%
This ain’t your 2017 PSU bank anymore.
3. Business Model (WTF Do They Even Do?)
UCO Bank is a full-service government-owned bank, operating through:
Corporate Banking (~35%)
Treasury (~35%)
Retail Banking (~29%)
It’s your classic public sector bank, with a not-so-classic twist: it’s cleaning up its mess faster than your cousin deleting WhatsApp messages post-breakup.
