City Union Bank Ltd. reported fourth-quarter net profit grew 4.3% year-on-year to ₹218 crore.
For the year ended FY23, the net profit grew 23% to ₹937 crore.
Net interest income (NII) grew to ₹514 crore for the quarter from ₹501 crore in the year-earlier period.
For FY23, net interest income increased by 13% to ₹2,163 crore as against ₹1,916 crore for the previous year.
The private sector lenders total deposits by 10% in FY23 to ₹52,398 crore.
Total advances increased by 7% to ₹43,971 crore.
The bank’s gross NPAs as on March 31 reduced to 4.37% from 4.70% while net NPAs decreased to 2.36% from 2.95%.
Provision coverage ratio as on March 31 improved to 69% from 64% in FY22.
The bank’s capital adequacy as on March 31 stood at 22.34% from 20.85% while Tier-1 capital adequacy was 21.27%, well above the regulatory requirements.
Net Interest Margin for FY23 stood at 3.89%, it added.
#City #Union #bank #net #rises #crore
