Comments
City Union Bank has posted a net profit of Rs. 93.74 crore * for the quarter ended September 30, 2014 as compared to Rs. 84.35 crore * during the corresponding quarter last fiscal year.
Total Income for the quarter ended September 2014 has increased to Rs. 773 crore from Rs. 697.15 crore during the previous year quarter
The bank’s Chairman and Managing Director N. Kamakodi attributed the better performance to the bank saying no to big ticket lending of over ₹100 crore and focussing more on the small and medium size companies – a domain that the bank is comfortable in dealing with.
“We are not concentrating on growth but on improving profitability,” he told newspersons.
It is usually said that when the economy is bad, the SME and agricultural sectors are the first to be hit followed by large companies. However, in the bank’s case, it was the reverse. The repayment is good among SMEs and agricultural sectors, he said.
. * The second quarter figures were edited for correction.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.