City Union Bank net profit declines 12% to Rs 170 crore

The bank had registered a net profit of Rs 192.43 crore in the corresponding period of the preceding financial year.

New Delhi: Private sector City Union Bank on Wednesday posted a decline of 11.7 per cent in its net profit to Rs 169.93 crore for the quarter ended in December.

The bank had registered a net profit of Rs 192.43 crore in the corresponding period of the preceding financial year.

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Bank’s total income during the third quarter of financial year 2020-21, however, moved up to Rs 1,277.80 crore as against Rs 1,203.24 crore in the same period of 2019-20, City Union Bank said in a regulatory filing.

On the asset front, the bank showed improvement with the gross non-performing assets (NPAs) falling to 2.94 per cent of gross advances as on December 31, 2020 from 3.50 per cent in the year ago period.

In value terms, the gross NPAs or bad loans stood at Rs 1,071.69 crore, down from Rs 1,185.43 crore.

Net NPAs too came down at 1.47 per cent (Rs 527.15 crore) from 1.95 per cent (Rs 649.41 crore).