Private sector lender City Union Bank has reported an 88% rise in its standalone net profit for the fourth quarter ended March at ₹209 crore in the year-ago period.
Total income increased from ₹ 1,135 crore to ₹ 1,253 crore. Net interest income increased from ₹429 crore to ₹501 crore, it said in a regulatory filing.
The bank said in a presentation that the net interest margin increased from 3.72% to 4.01%.
Gross Non-Performing Assets declined from 5.11% to 4.70% and Net NPAs declined from 2.97% to 2.95%. Provision increased from ₹188 crore to ₹231 crore.
The bank posted a total business of Rs 88,846 crore as against Rs 81,558 crore for FY22. CASA deposits grew by 20% to ₹15,529 crore and were 33% of the total deposits.
Over the past few quarters, CUB focused more on gold loans, which grew by 38% to ₹9,003 crore and accounted for 22% of the gross advances.
The Board has declared a dividend of ₹ 1 per share.
During the period under review, the total income increased from ₹ 1,135 crore to ₹ 1,253 crore. Net interest income increased from ₹429 crore to ₹501 crore, it said in a regulatory filing.
The bank said in a presentation that the net interest margin increased from 3.72% to 4.01%.
Gross Non-Performing Assets declined from 5.11% to 4.70% and Net NPAs declined from 2.97% to 2.95%. The provision coverage ratio stood at 64%.
The bank did a total business of Rs 88,845 crore in FY22 as against Rs 81,557 crore in the year-ago period. CASA deposits grew by 20% to ₹15,529 crore and were 33% of the total deposits.