UCO Bank reports Rs 1,715 cr Q4 loss as bad loans rise

UCO Bank reported a fourth-quarter net loss of Rs 1,715 crore ($257 million) as its provisions for bad loans surged.

Shares of the state-run lender fell more than 6 percent after the results.

The Kolkata-based bank had reported a net profit of Rs 209 crore in the year-ago quarter.

Its gross bad loans as a percentage of total loans increased to 15.43 percent in March from 10.98 percent as of December.

Five other state-run banks, including second-biggest Bank of Baroda, are due to report fourth-quarter results on Friday.