City Union Bank (CUB) on Friday reported net profit at ₹111.18 crore for the quarter ended March 31. The private sector lender had reported a net loss at ₹95.29 crore during corresponding quarter previous year.
Operating profit on a Y-o-Y basis dropped 15 per cent to ₹284.7 crore (₹335.08 crore) during Q4FY21. The total income of the bank grew marginally to ₹1,121.43 crore (₹1,220.98 crore) during the comparable quarters while interest income fell by 6 per cent to ₹976 crore (₹1,042 crore).
For the full year, the bank’s net profit grew by 24 per cent to ₹592.82 crore (₹476.31 crore). For the year ended March 31, total income stood at ₹4,839.45 crore (₹4,848.54 crore).
Gross non-performing assets (NPA) in percentage terms increased to 5.11 per cent of the advances during Q4FY21 as against 4.09 per cent in the year-ago quarter. Net NPA also increased to 2.97 per cent (2.29 per cent) during this period.
The bank’s capital adequacy ratio (Basel III) as of March 2021 stood at 19.52 per cent.