City Union Bank PBT in Q1 down 15% to Rs 199 cr on provisions

PBT for the quarter was impacted on account of additional provision of Rs 100 crore towards Covid-19

City Union Bank (CUB) has reported a profit before tax (PBT) of Rs 199.03 crore during the quarter ended June 30, 2020 as against Rs 235.64 crore. PBT for the quarter was impacted on account of additional provision of Rs 100 crore towards Covid. 

The lender had already made a provision of Rs 125 crore for Covid-19 as on March 31, 2020 and during the current quarter it has made an additional provision of Rs 100 crore to meet future contingencies arising out of the pandemic. Thus, the total provision in this regard made by the bank as on June 30,