CHENNAI: City Union Bank recorded a 12% increase in net profit – to Rs 173 crore – for the quarter ended June 30, 2021, compared to the corresponding period a year ago.
It recorded an increase in other income to Rs 195 crore in the first quarter of FY21, up from Rs 160 crore in the same quarter last year.
He reported a fraudulent account in the amount of Rs 17.62 crore for which the bank provided around Rs 4.40 crore in the December quarter and Rs 13.22 crore was created by transfer of reserves and surpluses. During the quarter of June 2021, the private lender provided the remainder of the amount of Rs 4.42 crore.
It increased provisioning to Rs 170 crore in June 2021, from Rs 157 crore in June 2020.
CUB’s deposits increased 9% from Rs 41,026 crore to Rs 44,606 crore, and advances increased 5% from Rs 34,536 crore to Rs 36,395 crore. CASA increased 22% from Rs 10,098 crore to Rs 12,299 crore. Net interest income grew marginally by 2% from Rs 437 crore to Rs 448 crore during the same period. The net interest margin stood at 3.86%.
The capital adequacy ratio of private banks, according to the Reserve Bank of India (RBI) guidelines on Basel III standards, was 19.58% and the Tier 1 capital adequacy was 18 , 51%, well above regulatory requirements.
The quality of its assets deteriorated, where the% gross NPA declined to 5.5% in the first quarter of FY2022, from 3.90% in the first quarter of FY2021, and the NPA net fell to 3.49% from 2.11% during the same period.
CUB shares ended up 0.13% at Rs 153.25 each on BSE.
It recorded an increase in other income to Rs 195 crore in the first quarter of FY21, up from Rs 160 crore in the same quarter last year.
He reported a fraudulent account in the amount of Rs 17.62 crore for which the bank provided around Rs 4.40 crore in the December quarter and Rs 13.22 crore was created by transfer of reserves and surpluses. During the quarter of June 2021, the private lender provided the remainder of the amount of Rs 4.42 crore.
It increased provisioning to Rs 170 crore in June 2021, from Rs 157 crore in June 2020.
CUB’s deposits increased 9% from Rs 41,026 crore to Rs 44,606 crore, and advances increased 5% from Rs 34,536 crore to Rs 36,395 crore. CASA increased 22% from Rs 10,098 crore to Rs 12,299 crore. Net interest income grew marginally by 2% from Rs 437 crore to Rs 448 crore during the same period. The net interest margin stood at 3.86%.
The capital adequacy ratio of private banks, according to the Reserve Bank of India (RBI) guidelines on Basel III standards, was 19.58% and the Tier 1 capital adequacy was 18 , 51%, well above regulatory requirements.
The quality of its assets deteriorated, where the% gross NPA declined to 5.5% in the first quarter of FY2022, from 3.90% in the first quarter of FY2021, and the NPA net fell to 3.49% from 2.11% during the same period.
CUB shares ended up 0.13% at Rs 153.25 each on BSE.
