City Union Bank (CUB) on Friday reported a net profit of Rs 209 crore for the fourth quarter of FY22 against Rs 111 crore in the corresponding quarter of last fiscal year, registering a growth of 88%. The total income of the private sector lender increased by 10% to Rs 1,253 crore compared to Rs 1,135 crore.
The bank’s gross NPA was Rs 1,933 crore of 4.7% for gross advances compared to Rs 1,893 crore (5.11%). Net NPA was Rs 1,191 at 2.95% for net advances compared to Rs 1,075 (2.97%).
The provision coverage ratio was 64%. The bank’s capital adequacy under the RBI guidelines for Basel III standards was 20.85% and the tier 1 capital adequacy ratio was 19.78%, well above regulatory requirements, the CUB said in a statement.
For the full financial year FY22, the bank’s net profit increased by 28.2% to Rs 760.17 crore, from Rs 592.82 crore in FY21.
