City Union Bank reports increase in profit during Q2 2018-19

Private sector City Union Bank Friday said its profit after tax (PAT) rose to Rs 167.99 crore during the second quarter of this financial year as against Rs 144.74 crore during the corresponding period last year, an increase of 16 per cent. 

For the half-year ending March 31, PAT was Rs 329.64 crore (Rs 285.07 crore), said the bank in a filing on the Bombay Stock Exchange (BSE). 

The total income for the quarter ending September 30 grew to Rs 1,045.05 crore (Rs 996.11 crore), a five per cent increase. The income for the six-month period ending September 30 grew to Rs 2,063.66 crore (Rs 1,956.98 crore), a five per cent rise. 

Gross NPA stood at 2.85 per cent while net NPA at 1.69 per cent as on September 30. The total business for the quarter ending September 30 grew by 14 per cent. It was Rs 64,319 crore (Rs 56,270 crore). 

The deposits grew by 12 per cent. They were Rs 34,534 crore (Rs 30,882 crore). Each share of the bank on the BSE ended at Rs 169.15 up by 0.24 per cent over the previous close.

(With inputs from agencies.)