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City Union Bank posts 15% rise in Q4 net, but misses annual growth target

Bank cites slowdown in third quarter for inability to meet yearly growth goal of 15-18%

Gireesh Babu  |  Chennai 

City Union Bank has posted a 15 per cent growth in net profit during the quarter ended March 31, 2017, at Rs 128.87 crore. The net profit during the same quarter previous year was Rs 112.23 crore. Its annual growth target was impacted due to slow systemic growth and the focus on managing cash in the third quarter of the fiscal year, said senior management officials. The bank's total income grew 7.2 per cent to Rs 925.75 crore during the quarter ended March, 2017, from Rs 863.51 crore a year ago. Both, the fourth quarter and the financial year were fairly stable and the bank is ...

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First Published: Mon, May 29 2017. 15:14 IST
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