For FY14, City Union Bank reported net profit of Rs347 crore as its net interest income grew 22%
City Union Bank Ltd reported higher net profit in FY2013-14 mainly on increase in its net interest income (NII) and revenues.
For the 12 month to end-March, City Union Bank said its net profit increased 8% to Rs347 crore from Rs322 crore, while its total revenues, including interest income, grew 16% to Rs2,847 crore from Rs2,462 crore, a year ago period.
During FY14, the lender said NII increased 22% to Rs759 crore from Rs624 crore of FY13. Its non-interest income (other income) grew 10% to Rs301 crore from Rs273 crore in FY13.
City union Bank in its FY14 made 39% higher provisions of Rs167 crore from Rs120 crore a year ago period. Its provision coverage ratio stood at 62%.
As on 31 March 2014, City Union Bank's total advances increased 6% to Rs16,224 crore. Total deposits during the year increased 8% to Rs22,017 crore. Its current account saving account (CASA) deposit grew at 15% to Rs3,917 crore.
As on 31 March 2014, 's capital adequacy ratio (CAR) stood at 15.01%, gross non performing assets ratio (GNPAs) stood at 1.81% (Rs293 crore). Its net non-performing assets stood at 1.23% (Rs197 crore).
For the quarter to end-March, City Union Bank said its net profit grew marginally 1% to Rs83.4 crore from Rs82.47 crore while its total revenues, including interest income, grew 7% to Rs726 crore from Rs678 crore, same period last year.
As on date, the City Union Bank's total number of branches and ATM network stood at 425 and 950 respectively.
City Union Bank has declared a final dividend of Re1 per share.
City Union Bank made 52-week high at Rs75.50 and closed 2.05% down on Monday at Rs71.70 on the BSE, while the 30-share Sensex ended the day flat at 24,716.