UCO Bank, Punjab & Sind Bank shares fall over 4% post Q4 earnings

UCO Bank and Punjab & Sind Bank’s shares fell over 4% after posting Q4 FY23 earnings. UCO Bank recorded its highest-ever net profit of Rs 1,862.34 crore, a 100.3% YoY increase. Its global business increased to Rs 4,10,967.19 crore and net NPA reduced by 141 basis points to Rs 2,018 crore. Punjab & Sind Bank recorded a net profit of Rs 457 crore, a 32.08% YoY growth. While its net NPA reduced by 18 basis points to Rs 1.84%, its priority and agriculture sector advances were above regulatory targets.