UCO Bank up 2.3% on merger plans

MUMBAI: UCO Bank shares were Tuesday up 2.28 per cent at Rs 60.60 on plans to merge with a smaller or a similar sized bank by March to attain size

Business Standard today quoted UCO Bank's Chairman and Managing Director SK Goel as saying that “the bank will not acquire any banks, but will merge with some other banks in three months."

The merger will boost the bank’s business size to Rs 2 trillion from Rs 1.23 trillion, the paper added.