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City Union Bank, on Friday, posted 12 per cent growth in year-on-year net profit to ₹173 crore for the quarter ended June 30. The bank posted a net profit of ₹154 crore in the corresponding quarter a year ago.
The bank’s operating profit grew 8 per cent to ₹383.02 crore in Q1FY22 from ₹356.04 crore for the same quarter last year.
Total income dropped marginally to ₹1,193.08 crore (against ₹1,209.95 crore) during the April-June quarter while interest income fell to ₹997.43 (from ₹1,049.36 crore).
An asset quality evaluation of the bank showed some strain with the gross non-performing asset (GNPA) ratio increasing to 5.59 per cent in the June quarter from 3.90 per cent a year ago. NPA ratio also went up to 3.49 per cent (from 2.11 per cent).
The total business of the bank grew by 7 per cent to ₹81,001 crore (from ₹75,562 crore) while deposits grew by 9 per cent to ₹44,606 crore and advances increased by 5 per cent to ₹36,395 crore.
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