City Union Bank India 1Q net up 12pc
City Union Bank on Wednesday reported over 12% rise in its standalone net profit at Rs.111.56 crore during the first quarter ended June, 2015.
The bank had reported a net profit of Rs.99.50 crore in the same quarter of last fiscal. Total income (standalone) rose to Rs.810.93 crore from Rs.754.03 crore in the year-ago quarter, registering a gain of 7.5%, the bank said in a BSE filing.
The bank's gross bad loans or non-performing assets (NPAs) rose to 2.01% of gross advances in the first quarter of current fiscal from 1.91%, a year ago. Net NPAs stood at 1.32% during April-June period of 2015-16, a tad up from 1.28% of net advances in the first quarter of the previous fiscal.
Bank's provision of bad loans and contingencies were up at Rs.45.10 crore in the latest quarter, from Rs.42.70 crore provision made in the year ago period. Shares of City Union Bank were trading at Rs.99.50 apiece on BSE, up 0.05% from the previous close.