August 7, 2022

City Union Bank | 1 st Quarter Performance Results, Financial year 2018-19

City Union Bank | 1 st Quarter Performance Results, Financial year 2018-19

City Union Bank | 1 st Quarter Performance Results, Financial year 2018-19
1st  Quarter Performance Results, Financial year 2018-19
  Net Interest Income up by 9%
  Net Profit up by 15%
 Chennai, 08th August 2018 –City Union Bank Limited announced its performance results for the 1st Quarter of Financial Year 2018-19 today at Chennai. Earlier, during the day, the Board of Directors of City Union Bank approved the working results.
Highlights of Performance in Q1 : FY 2018 – 19:
  • Net Interest Income increased by 9% to Rs. 375 Crore from Rs. 342 Crore
  • Operating Profit increased by 1% to Rs. 299 Crore from Rs. 297 Crore
  • Net profit increased by 15% to Rs. 162 Crore from Rs. 140 Crore
  • Deposits increased by 10% to Rs. 33,597 Crore from Rs. 30,468 Crore
  • Advances increased by 17% to Rs. 28,215 Crore from Rs. 24,058 Crore
  • Total Business increased by 13% to Rs. 61,812 Crore from Rs. 54,526 Crore
  • CASA increased by 13% to Rs. 8,038 Crore from Rs. 7,099 Crore and the CASA ratio stood at 24% to total deposits.
 Asset Quality for the year ended 30 June 2018:
  • Gross NPA of the Bank stood at Rs. 851 Crore at 3.02 % to Gross Advances.
  • Net NPA of the Bank stood at Rs. 473 Crore at 1.70% to Net Advances.
  • Provision Coverage Ratio stood at 65%
Key Performance Indicators:
  • ROA of the bank stood at 1.64%.
  • ROE of the bank stood at 15.32%
  • Net Interest Margin stood at 4.24% 
Capital Adequacy: The Bank’s capital adequacy as on June 30, 2018 as per Reserve Bank of India (RBI) guidelines on Basel III norms is 16.06% and Tier-1 capital adequacy was 15.64%, well above regulatory requirements.                        
Financial Performance Q1 FY 2018-19 vs Q1 FY 2017-18:                                   (Rs in Cr)
 
Q1 FY 19
   Q1 FY 18
GRW
(%)
Net Interest Income
374.78
342.38
32.40
9
Other Operating Income
129.11
135.34
-6.23
-5
Operating Expenses
204.48
180.75
23.73
13
Operating Profit
299.41
296.97
2.44
1
Provisions
137.76
156.64
-18.88
-12
Net Profit
161.65
140.33
21.32
15
 Business Performance for the quarter ended June 2018:                                   (Rs in Cr)
 
June-18
June-17
Inc/(Dec)
Growth (%)
Deposits
33,597
30,468
3,129
10
Advances
28,215
24,058
4,157
17
Total Business
61,812
54,526
7,286
13
CASA
8,038
7,099
939
13
Balance Sheet size
39,870
35,329
4,541
13
Gross NPA
              851
              735
116
Gross NPA (%)
3.02
3.05
Net NPA
473
426
47
Net NPA (%)
1.70
1.79
CRAR – Basel III
16.06
15.87
CUB had announced issue of Bonus shares to all its shareholders during May 2018. The process of allotment of bonus shares in the ratio of 1:10 has been completed by July 2018.

 

The Bank operates with 602 branches, 1634 ATMs and 9843 POS Machines. 
Conference call details: City Union Bank will hold an earnings conference call on 8th August 2018 at 3:30 p.m. IST to discuss our performance for the first quarter ended June 2018. The transcript of the management discussions and the question and answer session will be available online and will be accessible in the Investor Relations section of our website atwww.cityunionbank.com.
 Safe Harbor: The information contained in this earnings release is only current as of its date. Certain statements made in this  presentation may not be based on historical information or facts and may be “forward looking statements”, including those relating to the bank’s general business plan’s and strategy, its future financial condition and growth prospects and future developments in the industry and regulatory environment. Actual results may differ materially from these forward-looking statements due to a number of factors including future changes or developments in the bank’s business, its competitive environment and political, economic, legal and social conditions in India. City Union Bank Limited undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof.
   For further information please contact: Mr. V. Ramesh, Chief Financial Officer Mobile No. 9344066625
www.cityunionbank.com

 

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