City Union Bank Limited announced its performance results for the 2nd Quarter of Financial Year

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Chennai, 7th November 2019 – City Union Bank Limited announced its performance results for the 2nd Quarter of Financial Year 2019-20 at Chennai. Earlier, during the day, the Board of Directors of City Union Bank approved the working results. Net Interest Income moved up by 3% to ` 411.55 Crore from ` 398.02 Crore.

Net profit increased by 15% to ` 193.54 Crore from ` 167.99 Crore. Advances grew by 12% to ` 33279 Crore from ` 29785 Crore. Deposits increased by 17% to ` 40451 Crore from ` 34534 Crore. Total Business grew by 15% to `73730 Crore from ` 64319 Crore. CASA deposits grew by 22% as on September 2019, which is 25% of total deposits. The Bank’s capital adequacy as on 30th September, 2019 as per Reserve Bank of India (RBI) guidelines on Basel III norms was 15.49%, well above regulatory requirements. Gross & Net NPA level stood at 3.41% & 1.90% respectively as on 30th September, 2019. The Provision Coverage Ratio as on 30th September, 2019 stood at 65%.

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