 "City Union Bank reports net profit of Rs 111 cr in March quarter")
Private sector City Union Bank on Friday reported a net profit of Rs 111.18 crore in the last quarter ended March 2021.
There was a net loss of Rs 95.30 crore in the same quarter of 2019-20.
Total income during Q4 FY21 was down at Rs 1,121.43 crore as against Rs 1,220.98 crore in the same quarter a year ago, City Union Bank said in a regulatory filing.
On a full-year basis, there was a rise of 24.45 per cent in its net profit during 2020-21 at Rs 592.82 crore as against Rs 476.32 crore in FY'20.
Income during the year 2020-21, however, fell a tad at Rs 4,839.45 crore from Rs 4,848.55 crore in the preceding fiscal.
Provisions for bad loans and contingencies for the reported quarter were down at Rs 173.52 crore from Rs 430.38 crore put aside for the year-ago period. For the full year, provisions were up at Rs 891.02 crore as against Rs 865.08 crore.
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Gross non-performing assets of the bank stood at 5.11 per cent of gross advances by the end of March 2021, equivalent to Rs 1,893 crore.
Net NPAs or bad loans were 2.97 per cent (Rs 1,075 crore).
Bank deposits were up by 9 per cent at Rs 44,537 crore by end of FY21, advances were up by 7 per cent to Rs 37,021 crore. Total business was up by 8 per cent to Rs 81,558 crore.
City Union Bank said its board of directors has declared an interim dividend at the rate of 0.30 paise per equity share.
Stock of the bank closed nearly flat at Rs 173.90 apiece on BSE.
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