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City Union Bank Q3 Net Up

Updated: February 14, 2015 6:00 am

City Union Bank has reported a 15.28 per cent growth in net profit for the quarter ended December 31, 2014 at Rs 102.70 crore from Rs 89.09 crore during the same period last year. N Kamakodi, managing director and Chief executive officer of the Bank said that 25 per cent growth in operating profit, 44 per cent growth in total provisions, curtailment of NPAs and restructured assets were the primary reasons for the growth in profit. Total income of the bank rose by 10.94 per cent to Rs 782.28 crore from Rs 705.12 crore in the year-ago period. During the quarter, net interest income rose by 6 per cent to Rs 209.77 crore and net interest margin stood at 3.48 per cent.

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