Ashwani Kumar is new MD & CEO of UCO Bank

Ashwani Kumar is an experienced banker, succeeds S S Prasad as the MD and CEO of UCO Bank

Ashwani Kumar Appointed As New MD & CEO of UCO Bank

Ashwani Kumar has been appointed as the new MD and CEO of city-based public sector UCO Bank with effect from June one. Prior to this, he was the executive director of the state-owned Indian Bank and is a qualified chartered accountant, a statement by the bank said on Saturday.

Ashwani Kumar new MD & CEO of UCO Bank

The central government appoints Ashwani Kumar as managing director and chief executive officer in UCO Bank for a period of three years, the Finance Ministry said in a notification. The appointment comes into effect from the date of assumption of office on or after June 1, 2023 or until further order…

Government appoints Ashwani Kumar as MD of UCO Bank

The Appointments Committee of the Cabinet (ACC) has approved the appointment of Ashwani Kumar, Executive Director, Indian Bank as Managing Director and CEO of UCO Bank.

Govt appoints Ashwani Kumar as UCO Bank MD & CEO

A state-run bank India used to skirt sanctions is spurring trade with Russia by using rupees as payment and expects to see more deals as Moscow gets increasingly locked out of the global financial system.

After Iran Deals, UCO Bank Spurs Rupee Trade With Russia

Russia is also keen to do more trade in “national currencies and currencies of friendly countries,” its Deputy Prime Minister Denis Manturov said in April, to reduce its reliance on U.S. dollars after Western sanctions over its war in Ukraine.

India, Russia settling some non-oil trade in rupees: Top UCO Bank official

Amid reports of problems in rupee payment mechanism, particularly with reference to certain countries such as Russia, UCO Bank said it has registered 18-19 transactions under the rupee vostro account so far.

Transactions under rupee vostro account likely to gain traction

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Riding on the back of higher income from core operations, UCO Bank registered 86 per cent rise in net profit at ₹581 crore for the March quarter.

UCO Bank Q4FY23 net profit up 86%

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Price return has been average, nothing exciting

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Seems to be overvalued vs the market average

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Lagging behind the market in financials growth

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Showing good signs of profitability & efficiency

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Good time to consider, stock is not in the overbought zone

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UCO Bank is a commercial bank whose segments include Treasury, Corporate/Wholesale Banking, Retail Banking and Other Banking Operations.

UCO Bank