City Union Bank FY18 Net Profit Grows 18% to Rs 592 Cr | CORPORATE ETHOS

City Union Bank FY18 Net Profit Grows 18% to Rs 592 Cr

By: | May 24, 2018
City Union Bank
May 24: City Union Bank Limited has witnessed a robust growth in Advances and CASA Deposits in Q4FY18 and FY18. It may be noted that the Bank have posted a significant 18% growth in net profit which is at Rs. 592 Crore.  The Board of Directors has recommended for the  FY 2017-18, a dividend of 30% (i.e.30 paise) for face value of Re.1/- per equity share and issue of bonus @ 1 share for every 10 shares held subject to the approval of shareholders.
Financial Performance in Q4 – FY 2018 over the same quarter of FY 2017:
 – Net Interest Income increased by 18% to Rs.368 Crore from Rs.311 Crore Net interest margin was at 4.36%    Operating Profit increased by 19% to Rs. 294 Crore from Rs.248 Crore
  – Net profit increased by 18% to Rs.152 Crore from Rs.129 Crore
 -Network: The Bank continues to expand its Core Banking Services with a network of  600 branches and 1,621 ATMs as on 31.03.2018.
 Financial Performance for the Financial Year 2017-18
– Advances grew by 17% from Rs. 24,112 Crore to Rs.28,238 Crore
 Net Interest Income surged by 19% from Rs.1,199 Crore to Rs.1,430 Crore  Deposits increased by 9% from Rs.30,116 Crore to Rs.32,853 Crore  Total Business was up by 13% from Rs.54,228 Crore to Rs. 61,091 Crore
-Gross Profit increased by 22% from Rs.994Crore to Rs.1208 Crore
– Net Profit increased by 18% from Rs.503 Crore to Rs.592 Crore
– CASA deposits increased by 13% from Rs. 7,039 Crore to Rs.7,957 Crore and the -CASA ratio stood at 24% to total deposits.
– Net Interest Margin of the bank increased from 4.17% to 4.42%
 Asset Quality for the year ended 31st March 2018:
Gross NPA of the Bank stood at Rs. 857 Crore at 3.03 % to Gross Advances. Net NPA of the Bank stood at Rs.475 Crore at 1.70% to Net Advances.
 Key Performance Indicators:
-ROA of the bank stood at 1.60%.  ROE of the bank stood at 15.37%  Cost to income ratio decreased to 38.46% from 40.94%
-Capital Adequacy: The Bank’s capital adequacy as on March 31, 2018 as per Reserve Bank of India (RBI) guidelines on Basel III norms is 16.22% and Tier-1 capital adequacy was 15.79%, well above regulatory requirements