Chennai, 17th May 2019 – City Union Bank Limited announced its performance results for the 4th Quarter and for the Financial Year 2018-19. Earlier, during the day, Board of Directors approved the working results for Q4 FY 2019. The Bank witnessed a robust growth in total Business. It may be noted that the Bank have posted a significant 15% growth in net profit which is at Rs. 683 crore. The Board of Directors has recommended for the FY 2018-19, a dividend of 50% (i.e.Re.0.50 paise) for face value of Re.1/- per equity share subject to the approval of shareholders.Net Interest Income increased by 14% to Rs.421 crore from Rs.368 crore and Net profit increased by 15% to Rs.175 crore from Rs.152 crore.The Bank continues to expand its Core Banking Services with a network of 650 branches and 1,685 ATMs as on 31.03.2019. The bank deposits increased by 17% from Rs.32,853 crore to Rs.38,448 crore.
Net Interest Income surged by 13% from Rs.1,430 crore to Rs.1,611 crore. Total Business up by 17% from Rs.61,091 crore to Rs. 71,513 crore. Net Profit increased by 15% from Rs.592 crore to Rs.683 crore. CASA deposits increased by 22% from Rs. 7,957 crore to Rs.9,698 crore and the CASA ratio stood at 25% to total deposits and the Net Interest Margin stood at 4.32%. Gross NPA of the Bank stood at Rs. 977 crore at 2.95 % to Gross Advances. Net NPA of the Bank stood at Rs.591 crore at 1.81% to Net Advances. The Bank’s capital adequacy as on 31st March, 2019 as per Reserve Bank of India (RBI) guidelines on Basel III norms is 15.55% and Tier-1 capital adequacy was 15.03%, well above regulatory requirements.