Leading State-run lender, UCO Bank has produced a remarkable performance in the previous year and hoping to continue the same in the coming years as well.

In the shareholders meeting, Executive Director of the bank Mr. Ajai Kumar has informed that the bank is anticipating posting a net profit of 13.5 billion rupees in FY11.

As per Mr. Kumar, the bank has posted a net profit of 10.12 billion rupees during the fiscal year 2009-10 and he anticipates that the profit may go up around 13.5 billion rupees in the current fiscal year 2010-11. So the net profit rise may go up by 33.4% this time against last year's record.

It has also expected that its credit and deposit may go up at 19% for the first quarter of the fiscal year 2010-11. The net interest margin is expected to surge by 2.6% in this period of time.

Kumar has also informed that the bank is planning to introduce its follow-on-public offer (FPO) but it will take place bit later as it is waiting for the fund infusion in the market from the federal government.