City Union Bank Q2 net profit up 15% at Rs 124 cr

Image
Press Trust of India New Delhi
Last Updated : Nov 10 2016 | 2:22 PM IST
Private sector lender City Union Bank today reported a 14.7 per cent rise in net profit to Rs 123.74 crore for the second quarter ended September 30.
The bank had registered a net profit of Rs 107.85 crore during July-September quarter of previous fiscal.
Total income of the bank rose to Rs 894.87 crore during the second quarter as against Rs 829.45 crore in the same period previous fiscal, it said in a regulatory filing.
Bank's asset quality had only a marginal impact as gross non-performing assets (NPAs) as a percentage of gross loans as on September 30, 2016 increased to 2.69 per cent compared to 2.10 per cent a year ago.
Likewise, net NPAs too rose slightly to 1.63 per cent from 1.36 per cent a year ago.
Thus, provisioning for bad loans and contingencies were raised by the bank to Rs 67 crore for the second quarter of 2016-17 compared to Rs 49.85 crore in the same quarter last fiscal.
Shares of the bank were trading 1.73 per cent higher at Rs 150.30 on BSE.

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

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

More From This Section

First Published: Nov 10 2016 | 2:22 PM IST

Next Story