City Union Bank Ltd. (CUB) reported standalone net profit for the September quarter rose 2% to ₹285 crore during the year-earlier on improved income and reduced slippages.
Interest income grew by 10% to ₹1,434 crore, non-interest income by 24% to ₹226 crore. Net interest income rose by 8% crore to ₹582 crore. Net interest margin slid to 3.67% from 3.74%, the private sector lender said in a regulatory filing.
Gross non-performing assets declined to 3.54% of total advances from 4.66%, while net non-performing assets contracted to 1.62% from 2.34%.
Total business grew to ₹1,06,91 crore from ₹96,402 crore, of which deposits accounted for ₹57,369 crore. Current account savings account stood at ₹16,893 crore against ₹15,590 crore.
The bank reported capital adequacy ratio of 22.98% (22.21%). CUB made a provision of ₹252 crore against ₹293 crore. Provision coverage ratio rose to 75% from 71%.
Published – October 21, 2024 09:14 pm IST
