UCO Bank has announced a senior management transition with the superannuation of a key executive from its credit monitoring operations. The bank formally communicated this development to stock exchanges as part of its regulatory compliance obligations.

Senior Management Change

The bank announced that Mr. Manish Kumar, General Manager of the Credit Monitoring Department at Head Office, has superannuated from the services of the bank. The superannuation became effective at the close of business hours on January 31, 2026.

Regulatory Compliance

The announcement was made pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015, which requires listed companies to disclose material events and information to stock exchanges. UCO Bank communicated this senior management change to both the National Stock Exchange of India Ltd. and BSE Limited.

The disclosure was signed by Vikash Gupta, Company Secretary, and dated January 31, 2026. The bank stated that the information was shared for record and dissemination purposes as required under the regulatory framework.

About the Position

Mr. Manish Kumar served as General Manager in the Credit Monitoring Department, a critical function within the bank's operations that oversees credit risk assessment and monitoring activities. His superannuation represents a natural transition as part of the bank's ongoing management succession planning.

UCO Bank conducted its Q3FY26 post-earnings analyst call on January 20, 2026, where Managing Director and CEO Ashwani Kumar, along with Executive Directors Rajendra Kumar Saboo and Vijay N Kamble, presented the bank's strong quarterly performance and outlined strategic initiatives.

Business Growth and Credit Performance

The bank demonstrated robust business expansion with overall business growth of 13.25% year-on-year, supported by balanced growth across deposits and advances. Credit growth reached 16.74%, significantly outpacing the deposit growth of 10.64%.

The credit expansion was primarily driven by the Retail, Agriculture, and MSME (RAM) segment, which grew by 25.86%. Within this segment, retail advances increased by 28.18%, agriculture by 24.69%, and MSME by 23.56%. The RAM segment now constitutes approximately 66% of the overall credit mix.

Profitability and Margin Improvement

UCO Bank's profitability metrics showed significant improvement across multiple parameters. Net profit for the quarter reached ₹739 crores, representing a growth of 15.65% year-on-year. Operating profit stood at ₹1,680 crores with a 6% year-on-year increase.

Net interest income grew by 11.27% year-on-year and 9.38% on a nine-month basis. The bank's cost of funds improved by 27 basis points to 4.48%, while yield on advances stood at 8.06%.

Asset Quality and Capital Position

Asset quality metrics demonstrated substantial improvement with gross NPA declining to 2.41% from 2.91% year-on-year, representing a 50 basis points reduction. Net NPA improved to 0.36% from 0.63%, showing a 27 basis points improvement.

The bank maintained strong capital adequacy at 17.43%, with Tier 1 capital at 15.41% and CET1 at 15.18%. Including nine months' profit, the capital adequacy ratio would reach 18.67%. The CD ratio improved to 78.56% in December 2025 from 65% in March 2023.

Digital Transformation and Strategic Initiatives

UCO Bank continued its digital transformation through Project Parivartan, implementing over 30 digital journeys across retail, agriculture, MSME, and liability segments. The bank has built a digital business book of ₹15,900 crores, serving over 2 lakh customers through straight-through processing.

Key digital achievements include:

• More than 50% of fixed deposits created digitally
• Over 61% of accounts opened through tab banking
• Mobile banking users increased four-fold to 64 lakhs
• WhatsApp banking serving 17 lakh customers in 10 languages
• Mobile app rating maintained at 4.8

The bank allocated an IT budget exceeding ₹1,000 crores, with approximately ₹700 crores already spent. Future initiatives include omni-channel experience, cash management services, supply chain finance, and robotic process automation.

Recovery and Provisions

Recovery performance remained strong with total recovery of ₹2,215 crores during the nine-month period, aligning with the guidance of ₹2,200 to ₹2,700 crores. Quarterly recovery reached ₹383 crores compared to ₹366 crores in the previous quarter.

The bank has built forward-looking provisions totaling ₹1,252 crores toward Expected Credit Loss (ECL) implementation, including ₹530 crores of COVID provisions made earlier. Management expects to build approximately 50% of the estimated ₹2,500 to ₹3,000 crores ECL requirement by the June 2027 implementation date.