The outstanding exposure of UCO Bank Limited in PNB fraud is approximately US$ 411.82 million and the bank is fully confident to receive the payment from Punjab National Bank.
In a notification to the stock exchange, the bank said in the normal course of trade business, the Hong Kong branch had been negotiating export documents against Letter of Credit issued through authenticated SWIFT message by 'Punjab National Bank', after receiving acceptance through authenticated SWIFT message. The applicants for these letters of credit includes few of the corporate clients associated with the incident of recent fraud happened in Punjab National Bank.
Shares of UCO BANK was last trading in BSE at Rs.28.4 as compared to the previous close of Rs. 28.75. The total number of shares traded during the day was 43677 in over 277 trades.
The stock hit an intraday high of Rs. 28.85 and intraday low of 28.3. The net turnover during the day was Rs. 1245433.