City Union Bank Q2 net profit rises 42%

CORPORATE SCORECARD

Kumbakonam-based private bank City Union Bank has reported a 42 per cent increase in net profit in the quarter ended September 30, 2008 at Rs 37.65 crore as compared to Rs 26.79 crore in the corresponding quarter last year. The bank’s total income increased by 28 per cent to Rs 218 crore as compared to Rs 169 crore.

Interest earned rose by 34 per cent to Rs 198 crore as compared to Rs 147 crore. Interest on investments increased to Rs 36 crore from Rs 28 crore, an increased of 28 per cent. The bank’s gross NPA has come down to 1.76 per cent during the last quarter from 20.2 per cent. Capital adequacy ratio was at 13.24 per cent as compared to 12.85 per cent.