City Union Bank (CUB) on Monday reported a 30% rise in its profit after tax (PAT) at Rs 225 crore for the first quarter of FY23, compared with Rs 173 crore in year-ago period. Total income of the Kumbakonam-based private sector lender went up by 11% to Rs 1,317 crore, compared with Rs 1,191 crore.
The bank earned a net interest income of Rs 525 crore, against Rs 447 crore, with a growth rate of 17%, CUB said in a statement. Non-interest income stood at Rs 217 crore, compared with Rs 193 crore.
Net interest margin stood at 3.95% as against 3.86%. CASA increased 25% to Rs 15,387 crore. The gross NPA fell to 4.65% from 5.59% and the net NPA decreased to 2.89% from 3.49%. The provision coverage ratio was at 64%.