City Union Bank (CUB) (CMP: Rs 174; Mcap: 12,848 crore) a mid–sized private sector bank, has reported subdued performance in FY21. While loan growth was muted and asset quality deteriorated, the bank managed to report an earnings growth of 24 per cent year on year (YoY) mainly aided by treasury income, better margins and contained operating expenses. CUB mainly extends loans to trading and MSME segments. The pandemic has disrupted cash flows of these small businesses. Consequently, CUB’s asset quality...
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