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Our Bureau

Chennai, May 21

City Union Bank has reported a net profit of Rs 71.81 crore for 2006-07, earning Rs 29.92 a share. Net profit was also 27.38 per cent higher than the Rs 56.37 crore achieved in the previous year. The board of directors has recommended a dividend of Rs 4 per share (40 per cent).

The bank achieved total business of Rs 8,029 crore for the year, comprising Rs 4,699 crore of deposits and Rs 3,329 crore of advances. Deposits and advances grew by 33 per cent and 30 per cent, respectively, over the previous year. For the current year, the bank targets a total business of Rs 11,000 crore. Net NPAs stood at 1.09 per cent against 1.95 per cent a year ago. Capital adequacy ratio stood at 12.58 per cent. Return on average assets was 1.57 per cent and return on equity was 19.64 per cent.

More Stories on : Financial Performance | Private Banks | Dividend Announcement

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