Dr. N.Kamakodi, MD and CEO of CITY UNION BANK said, ” I am gland to note that CUB has performed well in a chellenging enviroment faced by the banking sector . Steady growth in advances and a significant growth in net interest income enabled us to post a sizeable profit for the quartet. It is gratifying to note that our CASA deposits have been gaining traction over the last fwe quarters which reflects growing customer confidence in CITY UNION BANK.
City Union Bank Performance Results 2017 – 18.
Highlights of Performance in Q2: FY 2017 – 2018.
* Gross Profit surged by 35.18% to 320.04crore from 236.76 crore.
* Net Interest Income moved up by 17.8% to 354.84 crore from 301.21crore.
* Net profit incresed by 16.95% to 144.74crore from 123.76crore.
* Advanced grew by 14.29% to 25389crore from 22215crore.
* Deposits increased by 8.77% to 30882crore from 28393crore.
* Total business grew by 11.19% to 56270crore from 50608crore.
* CASA deposits grew by 21% as on September 2017, which is 23% of total deposits.
* Gross Profit 35% & Net Interest up 18%.
* Net Profit by 17% & * Advance up 14%.
* Money can tranfer through face book within permissible limits, Access CUB’s facebook account and click on send message to enquire balance and view it on line.
Pre Loan will given to CUB customer who has proper repayer.
Loan can be applied through Net Banking accounts and apply for a loan online, The loan will be sanctioned instantly with a few clicks.
Minimum from 5 thousand to Maximum 5 lakhs.
We have introduced CUB Lakshmi, our robo based service in another 5 branches. In order to serve Tier II and Tier III customers. Robo which will speak 3 languages. English, Tamil & Telugu.
We have 558 branches, 1003 ATMs and 570 cash recyclers. 100 self service banking outlets.
Other Perfomence Highlights and Ratios ( Q2 FY 2018).
* Annualised return on assets of 1.58% and return on Equity 15.24%.
* Net Interest Margin at 4.46%.
* Basic EPS ( not annualised) – rs 2.22.
* Diluted EPS ( not annualised) – rs 2.19.
- The transcript of the management discussions and the question and answer session will be available online and will be accessible in the Investor Releations section of our website at www.cityunionbank.com.