City Union Bank standalone Q1 net up 12% at Rs 112 cr

Total income up 7.5% to Rs 811 cr; gross NPAs rise to 2.01% from 1.91% a year earlier

City Union Bank today reported over 12 per cent rise in its standalone net profit at Rs 111.56 crore during the first quarter ended June, 2015.

The bank had reported a net profit of Rs 99.50 crore in the same quarter of last fiscal.

Total income (standalone) rose to Rs 810.93 crore from Rs 754.03 crore in the year-ago quarter, registering a gain of 7.5 per cent, the bank said in a BSE filing.

The bank's gross bad loans or non-performing assets (NPAs) rose to 2.01 per cent of gross advances in the first quarter of current fiscal from 1.91 per cent, a year ago.

Net NPAs stood at 1.32 per cent during April-June period of 2015-16, a tad up from 1.28 per cent of net advances in the first quarter of the previous fiscal.

Bank's provision of bad loans and contingencies were up at Rs 45.10 crore in the latest quarter, from Rs 42.70 crore provision made in the year ago period.

Shares of City Union Bank were trading at Rs 99.50 apiece on BSE, up 0.05 per cent from the previous close.