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City Union Bank Ltd
reported a 15.1% year-on-year rise in its second-quarter net profit on Monday, aided by strong interest income growth and better asset quality.
The Tamil Nadu-based private sector lender posted a net profit of ₹329 crore for the quarter ended Sept 30, up from ₹285 crore a year earlier.
Net interest income (NII), a key measure of lending profitability, grew 14.4% to ₹666.5 crore from ₹582.5 crore in the same period last year, the bank said in an exchange filing.
Asset quality strengthened, with gross non-performing assets (NPA) improving to 2.42% from 2.99% in the previous quarter, while net NPA fell to 0.9% from 1.2%.
The bank’s loan book and deposits also saw steady growth, supported by a stable credit environment and healthy demand from retail and small business segments.
Shares of City Union Bank closed 3% higher ahead of the results, at a price of ₹235.90 on the BSE today. The stock has gained 36% this year so far.
The Tamil Nadu-based private sector lender posted a net profit of ₹329 crore for the quarter ended Sept 30, up from ₹285 crore a year earlier.
Net interest income (NII), a key measure of lending profitability, grew 14.4% to ₹666.5 crore from ₹582.5 crore in the same period last year, the bank said in an exchange filing.
Asset quality strengthened, with gross non-performing assets (NPA) improving to 2.42% from 2.99% in the previous quarter, while net NPA fell to 0.9% from 1.2%.
The bank’s loan book and deposits also saw steady growth, supported by a stable credit environment and healthy demand from retail and small business segments.
Shares of City Union Bank closed 3% higher ahead of the results, at a price of ₹235.90 on the BSE today. The stock has gained 36% this year so far.
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