Private sector lender City Union Bank today reported a 47.63% rise in its net profit to Rs 51.39 crore for the fourth quarter ended March 31, 2011.
The bank had a standalone net profit of Rs 34.81 crore in the corresponding period of the previous year.
Total income of the bank in the fourth quarter improved 38.53% to Rs 391.09 crore as at March 2011, as against Rs 282.31 crore in the same quarter of the previous year.
Besides, net profit of the bank for the year ended March 31, 2011, rose 40.77% to Rs 215.05 crore, against Rs 152.76 crore in the year-ago period, it said in a filing on the Bombay Stock Exchange.
The bank's total income grew 25.06% to Rs 1,375.81 crore on an annual basis as compared to Rs 152.76 crore in the year-ago period.
Total deposits during the period grew 25.57% to Rs 12,914.28 crore and advances 35.44% to Rs 9,255.46 crore.
The bank's Board has recommended a dividend of 85% per share.