City Union Bank on Thursday reported a 15.2 per cent rise in its net profit to Rs 193.53 crore for the second quarter ended September 30.
It had posted a net profit of Rs 167.99 crore in the corresponding quarter of 2018-19.
Total income during the September 2019 quarter rose to Rs 1,231.80 crore from Rs 1,045.04 crore in the year-ago quarter, the bank said in a regulatory filing.
Its interest income stood at Rs 1,036.82 crore, higher as compared with Rs 926.49 crore in the year-ago period.
The lender, however, witnessed a rise in its bad loan proportion as gross non-performing assets (NPAs) rose to 3.41 per cent (Rs 1,135.44 crore) of the gross advances at the end of the second quarter, from 2.85 per cent a year ago.
Net NPAs were up at 1.90 per cent (Rs 624.08 crore) from 1.69 per cent (Rs 497.78 crore).
The bank said it has opted for the reduced tax rate of 22 per cent as per the amended net tax rules and the impact of the changes have been fully recognised in its profit and loss account for the second quarter and half year ended September.
Shares of City Union Bank on Thursday rose nearly three per cent on the BSE.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app