City Union Bank rose 2.79% to Rs 47.85 at 10:12 IST on BSE after net profit rose 22.19% to Rs 90.28 crore on 24.85% growth in total income to Rs 707.82 crore in Q1 June 2013 over Q1 June 2012.
The result was announced after market hours on Monday, 29 July 2013.
Meanwhile, the S&P BSE Sensex was down 4.39 points, or 0.02%, to 19,588.89.
On BSE, 58,000 shares were traded in the counter as against an average daily volume of 50,784 shares in the past one quarter.
The stock hit a high of Rs 48.80 and a low of Rs 47.15 so far during the day. The stock had hit a record high of Rs 65.60 on 16 January 2013. The stock had hit a 52-week low of Rs 42.92 on 21 August 2012.
The stock had underperformed the market over the past one month till 29 July 2013, sliding 15.44% compared with the Sensex's 1.02% rise. The scrip had underperformed the market in past one quarter, sliding 14.43% as against Sensex's 1.06% rise.
The small-cap company has an equity capital of Rs 51.24 crore. Face value per share is Re 1.
City Union Bank's ratio of net non-performing assets (NPA) to net advances stood at 0.63% as on 30 June 2013, compared with 0.63% as on 31 March 2013 and 0.50% as on 30 June 2012.
The ratio of gross NPA to gross advances increased to 1.25% as on 30 June 2013, from 1.13% as on 31 March 2013 and 1.07% as on 30 June 2012.
The bank's provisions and contingencies rose 15.59% to Rs 20.53 crore in Q1 June 2013 over Q1 June 2012. The provision coverage ratio as at 30 June 2013 stood at 71%.
City Union Bank's capital adequacy ratio (CAR) as per Basel II norms stood at 13.21% as on 30 June 2013, as against 13.98% as on 31 March 2013 and 12.01% as on 30 June 2012.
Total deposits of the bank increased by 20% to Rs 20516 crore as on 30 June 2013 from Rs 17062 crore as on 30 June 2012. Gross advances went up by 20% to Rs 15388 crore as on 30 June 2013 from Rs 12773 crore as on 30 June 2012.
The savings bank deposits recorded growth of 15% and growth in current and savings account (CASA) was 11% as on 30 June 2013. The bank's balance sheet size increased by 22% to Rs 23477 crore as on 30 June 2013 from Rs 19286 crore as on 30 June 2012.
Meanwhile, the board of City Union Bank has resolved to seek the approval of the shareholders to augment capital upto Rs 350 crore inclusive of premium through a process of qualified institutional placement (QIP).
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