| Net interest income (NII) rose 8% to Rs 582.50 crore in September 2024 quarter as compared to Rs 538.40 crore in Q2 FY24. For Q2 FY25, NIM was at 3.67% as against 3.74% in the corresponding period last year. Profit before tax (PBT) grew 8.33% year on year (YoY) to Rs 358.17 crore in the quarter ended 30 September 2024. The bank's operating profit before provisions and contingencies gained 10.75% to Rs 428.17 crore in September 2024 quarter as compared to Rs 386.61 crore recorded in Q2 FY24. The bank made a provision of Rs 252 crore in the quarter ended 30 September 2024 as against Rs 293 crore posted in the corresponding period last year. The provision coverage ratio (PCR) as of 30 September 2024 is at 75% (including T/W) and 55% (excluding T/W). On asset quality front, the gross non-performing assets (GNPA) was at Rs 1,725.50 crore as on 30 September 2024, down 15.19% as against Rs 2,034.63 crore as on 30 September 2023. The ratio of gross NPA stood at 3.54% as of 30 September 2024 as compared to 4.66% as on 30 September 2023. The ratio of net NPA stood at 1.62% as of 30 September 2024 as compared with 2.34% as of 30 September 2024 2023. Total deposits of the bank increased 9% for Q2 FY25 to Rs 57,369 crore from Rs 52,714 crore recorded in the corresponding quarter previous year. CASA deposits rose 8.35% YoY to Rs 16,893 crore in Q2 FY25. Total advances increased by 12% to Rs 48,722 crore in September 2024 quarter from Rs 43,688 crore in same quarter last year. Credit deposit ratio stood at 84%. The bank's capital adequacy as on 30 September 2024 as per Reserve Bank of India (RBI) guidelines on Basel III norms was 22.98% and Tier-1 capital adequacy was 21.98%, well above regulatory requirements. On half year basis, the bank's net profit jumped 8.22% to Rs 549.66 crore on 10.09% rise in total income to Rs 3,241.03 crore in H1 FY25 over H1 FY24. City Union Bank is an old sector private sector bank with 812 branches across 16 states and three Union territories. It is a scheduled commercial Bank regulated by the Reserve Bank of India. It is professionally managed and governed. City Union Bank has contemporary technology and infrastructure including ATMs, Net Banking, Mobile Banking, E-Wallet, and Social Media Banking for personal as well as business banking customers. The Bank positioned itself as a banker to SMEs, Agri and Traders apart from all other banking activities. Powered by Capital Market - Live News |