<p class="bodytext">State-owned UCO Bank, which posted net profit for two successive quarters, is ready to come out of the RBI's prompt corrective action (PCA) framework, an official said on Saturday.</p>.<p class="bodytext">In May 2017, the central bank had initiated PCA against the lender due to high non-performing assets and negative return on assets.</p>.<p class="bodytext">"We are ready to approach the RBI to come out of the framework, as the bank posted net profit for two successive quarters," the official said.</p>.<p class="bodytext">He said non-performing assets and capital adequacy norms levels as on June 30 also entitles the bank to move out of the lending constraints' purview.</p>.<p class="bodytext">Net NPA of UCO Bank during the quarter to June was lower at 4.95 per cent, while the capital adequacy ratio stood at 11.65 per cent, he said.</p>.<p class="bodytext">The bank had reported a net profit of Rs 21.46 crore in the first quarter.</p>
<p class="bodytext">State-owned UCO Bank, which posted net profit for two successive quarters, is ready to come out of the RBI's prompt corrective action (PCA) framework, an official said on Saturday.</p>.<p class="bodytext">In May 2017, the central bank had initiated PCA against the lender due to high non-performing assets and negative return on assets.</p>.<p class="bodytext">"We are ready to approach the RBI to come out of the framework, as the bank posted net profit for two successive quarters," the official said.</p>.<p class="bodytext">He said non-performing assets and capital adequacy norms levels as on June 30 also entitles the bank to move out of the lending constraints' purview.</p>.<p class="bodytext">Net NPA of UCO Bank during the quarter to June was lower at 4.95 per cent, while the capital adequacy ratio stood at 11.65 per cent, he said.</p>.<p class="bodytext">The bank had reported a net profit of Rs 21.46 crore in the first quarter.</p>