City Union Bank PAT up 4% to Rs 218 cr

Private sector lender City Union Bank (CUB) on Friday reported a 4% rise in its revenue after tax (PAT) to Rs 218 crore for the fourth quarter of FY23, in contrast with Rs 209 crore within the year-ago interval. Total revenue stood at Rs 1,423 crore, towards Rs 1,253 crore, registering a development of 14%.

For FY23, the PAT grew 23% to Rs 937 crore from Rs 760 crore final 12 months whereas complete revenue clocked a development of 14% to Rs 5,525 crore from Rs 4,864 crore.

The financial institution earned internet curiosity revenue (NII) of Rs 514 crore for This autumn, in contrast with Rs 501 crore within the corresponding quarter final fiscal. For FY23, the NII elevated 13% and stood at Rs 2,163 crore, towards Rs 1,916 crore final fiscal. The internet curiosity margin was at 3.89%.

Non-interest revenue for This autumn was at Rs 195 crore, towards Rs 203 crore. For FY23, it elevated 7% to Rs 810 crore from Rs 759 crore, CUB mentioned in a launch.

Gross NPAs decreased to 4.37% from 4.70% whereas internet NPA was introduced right down to 2.36% from 2.95%. The provision protection ratio improved to 69% as towards 64% final 12 months.  

The capital adequacy as per Basel III norms was at 22.34% and tier-1 capital adequacy was at 21.27%, properly above the regulatory requirement.

Total deposits elevated 10% to Rs 52,398 crore from Rs 47,690 crore. Cost of deposits fell to 4.66% from 4.68%.