UCO Bank inches up on inking co-lending agreement with Paisalo Digital

UCO Bank is currently trading at Rs. 11.49, up by 0.06 points or 0.52% from its previous closing of Rs. 11.43 on the BSE.

UCO Bank
UCO Bank

The scrip opened at Rs. 11.43 and has touched a high and low of Rs. 11.50 and Rs. 11.43 respectively. So far 4276 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 15.85 on 30-Jun-2021 and a 52 week low of Rs. 10.91 on 12-May-2022.

Last one week high and low of the scrip stood at Rs. 11.74 and Rs. 11.40 respectively. The current market cap of the company is Rs. 13665.66 crore.

The promoters holding in the company stood at 95.39%, while Institutions and Non-Institutions held 1.31% and 3.30% respectively.

UCO Bank has signed a co-lending agreement with Paisalo Digital for agriculture business to capitalize on the huge Rs 8 lakh crore market of small-ticket loans for the 365 million under banked and under-serviced population.

The tie-up will give a boost to the agriculture advance of the bank and it is a favorable situation for the bank as well as the NBFC with benefits reaching to those at the bottom of the society.

Co-lending is an emerging area in priority sector financing and due focus is given by the Government of India to help agriculture and other small borrowers who are the backbone of the Indian economy.

UCO Bank is a commercial bank and a Government of India Undertaking. The Bank offers wide range of services includes Personal Banking, Corporate Banking, International Banking, Rural Banking and other services.

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