CUB June quarter net profit grows 12%

The bank’s superior adequacy arsenic per Basel III norms stood astatine 19.58% and tier-1 superior adequacy was astatine 18.51%, good supra the regulatory requirement.

City Union Bank (CUB) has reported a 12% summation successful its nett net astatine Rs 173 crore for the archetypal 4th of FY22, compared with Rs 154 crore successful the corresponding 4th of erstwhile fiscal. Total income of the slope was little astatine Rs 1,193 crore, against Rs 1,210 crore.

The bank’s atrocious assets accrued successful the quarter, with gross NPA astatine 5.59%, rising from 3.90%. Net NPA excessively roseate to 3.49% from 2.11%.

Net involvement income was up by 2%, from Rs 437 crore to Rs 448 crore, portion nett involvement borderline stood astatine 3.86%, the lender said successful a release.

Total concern roseate 7%, from Rs 75,562 crore to Rs 81,001 crore. Deposits accrued 9%, from Rs 41,026 crore to Rs.44,606 crore, portion advances grew 5% to Rs 36,395 crore from Rs 34,536 crore. CASA deposits accrued by 22% to Rs 12,299 crore, it said.

The bank’s superior adequacy arsenic per Basel III norms stood astatine 19.58% and tier-1 superior adequacy was astatine 18.51%, good supra the regulatory requirement.