Private sector lender City Union Bank Ltd has reported a 16% increase in its standalone net profit for the December quarter at ₹332 crore over the corresponding period last year, driven by higher income and improved asset quality.
Net interest income grew 28% to ₹752 crore, while non-interest income rose 7% to ₹245 crore. Net interest margin was 3.89% (3.58%).
Gross non-performing assets declined to 2.17% from 3.36%. GNPA has shown a sequential decline for the past 11 quarters. Net NPA decreased to 0.78% from 1.42% in Q3 FY25. NNPA fell below the ₹500-crore mark and stood at ₹469 crore.
CUB’s capital adequacy stood at 20.13%. The bank made provisions of ₹468 crore compared with ₹402 crore in the corresponding period last year. The provision coverage ratio was 83% (including technical write-off).
Total deposits rose 21% to ₹70,516 crore from ₹58,271 crore. The CASA ratio stood at 27% of total deposits. Total advances increased 21% to ₹60,892 crore.