UCO Bank announced that the Central Government has nominated Hari Har Mishra as Director on the Board of UCO Bank in place of Sudhir Shyam, with immediate effect and until further orders. According to reports from Business Standard, this change took effect on 13 May 2026. The appointment represents a significant shift in the bank's board composition as the Central Government exercises its authority over public sector banking institutions.
Sudhir Shyam ceases to be Director on the Board of the Bank with effect from 13 May 2026, as reported by Business Standard. The transition from Sudhir Shyam to Hari Har Mishra marks a change in the bank's nominee director representation on its board. The immediate effect of the appointment indicates the government's swift action in implementing this board-level change.
The appointment demonstrates the Central Government's authority over public sector banking institutions and its ability to make swift changes to board composition when necessary. As reported by Business Standard, the nomination was made with immediate effect, indicating the government's priority in maintaining oversight of public sector banks through proper board representation.
UCO Bank reported robust financial results for the quarter ended March 2026, with net profit rising 22.79% to ₹801.15 crore compared to ₹652.43 crore in the previous quarter. For the full year, net profit increased 13.21% to ₹2,767.86 crore against ₹2,444.96 crore in the previous year. Total operating income declined 1.31% to ₹6,656.33 crore in Q3 FY26, while full-year operating income rose 4.84% to ₹26,281.35 crore. The bank's operating profit margin improved to 68.81% in Q3 FY26 from 54.71% in the previous quarter.
UCO Bank demonstrated strong business growth with total business rising 6.32% quarter-on-quarter to ₹5.89 lakh crore, up 14.59% year-on-year. Total advances increased 7.38% QoQ to ₹2.62 lakh crore, reflecting a 19.09% YoY rise, while total deposits grew 5.48% QoQ to ₹3.27 lakh crore, up 11.22% YoY. The bank's CASA ratio remained steady at 38.48%, and the credit-deposit ratio improved to 80.12%. Domestic advances rose 8.84% QoQ to ₹2.34 lakh crore, showing strong domestic market performance.
UCO Bank's Board of Directors at their meeting on 25 April 2026 recommended a final dividend of ₹0.44 per equity share (4.4%), subject to shareholder approval. The bank also announced that Rajeev Gupta, General Manager, has been appointed as the Chief Risk Officer (CRO) in place of Shashi Kant Kumar. These corporate actions demonstrate the bank's commitment to shareholder returns and risk management excellence.
