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Private sector lender City Union Bank has reported a 47.63 per cent rise in its standalone net profit to Rs 51.39 crore for the fourth quarter ended March 31, 2011 compared with Rs 34.81 crore in the corresponding period of the previous fiscal.
During the quarter under review, the total income improved 38.53 per cent to Rs 391.09 crore from Rs 282.31 crore in the same quarter of the previous fiscal.
Besides, the consolidated net profit for the year ended March 31, 2011 rose 40.77 per cent to Rs 215.05 crore from Rs 152.76 crore in the year-ago period, the bank said in a filing to the Bombay Stock Exchange.
The total income grew 25.06 per cent to Rs 1,375.81 crore on an annual basis compared with Rs 152.76 crore in the year-ago period.
Total deposits grew 25.57 per cent to Rs 12,914.28 crore and advances 35.44 per cent to Rs 9,255.46 crore.
The board has recommended a dividend of 85 per cent per share.
Meanwhile, the City Union Bank shares were trading up 3.8 per cent at Rs 43.75 on the BSE.
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