City Union Bank 3qtr net rises 12 per cent at Rs 126.62 Cr

Private sector City Union Bank has registered a 12 per cent rise in its third quarter net profits ending December 31, 2016 at Rs 126.62 crore.
The Tamil Nadu-based bank had registered net profits at Rs 113.06 crore during corresponding period of last year.
For the nine month period April-December 31,2016 net profits of the bank surged 12.46 per cent to Rs 373.89 crore from Rs 332.46 crore registered during year ago period.
Total income for the bank during the October-December 31, 2016 quarter went upto Rs 953.80 crore from Rs 850.28 crore registered during year ago period.
For the nine month period ending December 31, 2016 total income of the bank went up Rs 2,731.98 crore from Rs 2,490.66 crore registered during same period of previous year.

"CUB has achieved an impressive growth in Gross Profit by 32 per cent from Rs 207 crore to Rs 274 crore. This is driven by consistent growth in Net Interest Income over the last three to five quarters", City Union Bank MD and CEO, N Kamakodi said in a statement.

Gross NPA of the bank for the quarter ending December 31, 2016 stood at Rs 597.97 crore (2.98 per cent) while Net NPA was at 370.66 crore (1.72 per cent).
Total deposits as on December 31, 2016 increased by 15.51 per cent to Rs 29,986 crore from Rs 25,959 crore registered during year ago period.

Shares of the bank ended at Rs 157.90 apiece down by 2.80 per cent over previous close in BSE.