City Union Bank net rises 15% to Rs 162 crore

By: | Published: August 9, 2018 3:29 AM

Private sector lender City Union Ban on Wednesday reported a 15.19% rise in its net profit at Rs 161.65 crore for the first quarter compared to Rs 140.33 crore in the same quarter last fiscal.

City Union Bank, City Union Bank net rise, Private sector lender, marketThe total income of the bank stood at Rs 1,018.61 crore against Rs 960.86 crore, registering a growth of 6%. Gross NPA of the bank stood at Rs 851 crore (3.02%) in Q1 against 3.05% in the corresponding quarter last fiscal. (Reuters)

Private sector lender City Union Ban on Wednesday reported a 15.19% rise in its net profit at Rs 161.65 crore for the first quarter compared to Rs 140.33 crore in the same quarter last fiscal. The total income of the bank stood at Rs 1,018.61 crore against Rs 960.86 crore, registering a growth of 6%. Gross NPA of the bank stood at Rs 851 crore (3.02%) in Q1 against 3.05% in the corresponding quarter last fiscal. Net NPA was at Rs 473 crore (1.70%) against 1.79% in the same period last fiscal.

Provision coverage ratio stood at 65%, the bank said in a statement. Net interest income grew 9% to Rs 375 crore from Rs 342 crore. Net interest margin stood at 4.24%. Total business increased 13% to Rs 61,812 crore from Rs 54,526 crore. While deposits increased 10% to Rs 33,597 crore from Rs 30,468 crore, advances rose 17% to Rs 28,215 crore from Rs 24,058 crore.

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