City Union Bank Q3 net up by 17 %

Bank;s total income rose by 27% to Rs 621 cr from Rs 489 cr

City Union Bank has reported a 17% growth in net profit during the quarter ended December at Rs 85.22 crore as compared to Rs 72.23 crore, a year ago. Bank's total income rose by 27% to Rs 621.46 crore from Rs 489.32 crore.

The Bank has earned interest of Rs 555.57 crore as compared to Rs 438.57 crore and other income rose to Rs 65.89 crore from Rs 50.75 crore, an increase of around Rs 30%.

The revenue was driven by retail banking which contributed Rs 328.44 crore as compared to Rs 267.42 crore, an increase of around 23%. FOllowed by Corporate/wholesale banking which contributed Rs 186.19 crore as compared to Rs 136.44 crore and treasury segment contributed Rs 105.08 crore as compared to Rs 83.76 crore.

CUB's Gross NPA rose to Rs 178.73 crore from Rs 129.16 crore, an increase of around 39%. However in terms of percentage it has come down to 1.23% from 1.17%, a year ago. Net NPA rose to Rs 91.43 crore from Rs 56.07 crore and in percentage terms it has increased to 0.63% from 0.51%.

The Kumabkonam-based private sector bank's capital adequacy ratio (CAR) percent Basel II was at 12.39% during the third quarter as compared to 12.35%.