City Union Bank Q4 net up 15% on higher other income

Moneycontrol Bureau

South-based City Union Bank reported 15 percent year-on-year rise in its fourth quarter (January - March) net profit to Rs 83 crore, aided by other income, which increased 32 percent to Rs 81 crore. Net interest income or the difference between interest earned and paid out, rose 27 percent to Rs 137 crore.

Total provisions increased to Rs 44 crore compared with Rs 30 crore, an accretion of 48 percent y-o-y. Gross non-performance (NPA) ratio rose to 1.13 percent as against 1.01 percent a year back. Net NPA ratio too increased 0.63 percent compared with  0.44 percent during the same period.

The bank expanded its loans by 26 percent y-o-y to about Rs 15,250 crore during the full year. Deposits grew more than 24 percent y-o-y to Rs 20,305 crore.

Also read:City Union Bank PAT up 15%, sees healthy core income growth

Restructured loans were at about Rs 270 crore, which would be less than 2 percent of the bank’s total loan book.  City Union shares on Monday rose nearly 2 percent to close the day’s trading at Rs 56 on NSE.

saikat.das@network18online.com