UCO Bank Q3 net loss at ~998 cr, pins hope on turnaround

State-owned UCO Bank Friday reported a marginal drop in net loss at ~998.74 crore for the third quarter ended December 31, 2018, as bad loans and provisions ballooned. The bank had posted a net loss of ~1,016.43 crore in the same quarter of the previous fiscal. Despite the poor show, UCO bank is hoping to be back in black by the third quarter of 2019-20 and the journey of the turnaround could be visible as early as the March quarter of the current fiscal, the bank's managing director & CEO A K Goel said. Total income of the bank also came down to ~3,585.56 crore during October-December period of 2018-19.