The net profit of private sector lender City Union Bank grew by 88% in the Q4 of FY21-22 and stood at Rs 208.9 crore
The net profit of private sector lender City Union Bank grew by 88% in the Q4 of FY21-22 and stood at Rs 208.9 crore
Private sector lender City Union Bank has reported an 88% growth in its standalone net profit for the fourth quarter that ended March to ₹209 crore over the year-earlier period.
Total income rose to ₹1,253 crore from ₹1,135 crore. Net interest income rose to ₹501 crore from ₹429 crore, it said in a regulatory filing.
Net interest margin increased to 4.01% from 3.72%, the bank said in a presentation.
Gross non-performing assets declined to 4.70% from 5.11% and net NPA to 2.95% from 2.97%. Provisions rose to ₹231 crore from ₹188 crore.
The bank reported total business of ₹88,846 crore against ₹81,558 crore for FY22. CASA deposits increased by 20% to ₹15,529 crore and it represented 33% to total deposits.
In the last few quarters, CUB focused more on gold loans which increased by 38% to ₹9,003 crore and it accounted for 22% of gross advances.
The board has declared a dividend of ₹1 per share.
During the period under review, total income rose to ₹1,253 crore from ₹1,135 crore. Net interest income rose to ₹501 crore from ₹429 crore, it said in a regulatory filing.
Net interest margin increased to 4.01% from 3.72%, the bank said in a presentation.
Gross non-performing assets declined to 4.70% from 5.11% and net NPA to 2.95% from 2.97%. The provision coverage ratio stood at 64%.
The bank reported total business of ₹88,845 crore in FY22 against ₹81,557 crore in the year-earlier period. CASA deposits increased by 20% to ₹15,529 crore and it represented 33% of the total deposits.
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