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  Business   Companies  08 Nov 2017  City Union Bank Q2 net profit up 17 per cent at Rs 145 crore

City Union Bank Q2 net profit up 17 per cent at Rs 145 crore

PTI
Published : Nov 8, 2017, 1:44 pm IST
Updated : Nov 8, 2017, 1:44 pm IST

Bank had registered a net profit of Rs 124 crore during the July-September quarter of last fiscal.

Total income rose to Rs 996.12 crore during the quarter under review, from Rs 894.87 crore in the year-ago period.
 Total income rose to Rs 996.12 crore during the quarter under review, from Rs 894.87 crore in the year-ago period.

New Delhi: Private sector lender City Union Bank on Wednesday reported 17 per cent rise in net profit to Rs 145 crore for the second quarter ended September 30, 2017-18.

The bank had registered a net profit of Rs 124 crore during the July-September quarter of last fiscal. Its total income rose to Rs 996.12 crore during the quarter under review, from Rs 894.87 crore in the year-ago period, the bank said in a regulatory filing.

Its asset quality deteriorated slightly as gross non- performing assets (NPAs) as a percentage of gross loans increased to 3.07 per cent at the end of September a year ago, compared to 2.69 per cent a year ago.

Likewise, net NPAs rose slightly to 1.76 per cent from 1.63 per cent a year ago.

Thus, provisioning for bad loans and contingencies were raised by the bank to Rs 129.29 crore for the second quarter of 2017-18 compared to Rs 67 crore in the same quarter of the last fiscal.  

Tags: city union bank, profit, shares, npa, revenue
Location: India, Delhi, New Delhi