City Union Bank (CUB) on Thursday posted a net loss of Rs.95 crore for the quarter ended March 2020. It has logged a net profit of Rs. 175 crore for the same period last year. The net loss during the fourth quarter was on account of provision (other than tax and contingencies) which zoomed nearly 400 per cent to Rs. 450 crore during the January-March quarter as against Rs. 90 crore for the same quarter previous year.
Total income of the bank grew by 8 per cent to Rs.1,221 crore in Q4 FY20 from Rs. 1,131 crore in the year ago quarter. Interest income rose 6 per cent to ₹1,042 crore (Rs.985 crore) during the period.
Operating profit for the January-March quarter stood at Rs.335 crore (Rs.338 crore).
Non-performing Assets (NPAs)
Asset quality of the bank deteriorated during the latest quarter. Gross non-performing assets (GNPA) of the bank, as a percentage of total advances, increased to 4.09 per cent during the fourth quarter from 2.95 per cent for the comparable period in the previous year. Net NPA, in percentage terms, also increased to 2.29 per cent (1.81 per cent) during the period.
In value terms, GNPA of the bank rose by 45 per cent to Rs. 1,413 crore (Rs.977 crore) while NNPA, on a year-on-year basis, jumped by 32 per cent to Rs. 778 crore (Rs.591 crore) during the fourth quarter.
Total advances of the bank stood at Rs. 33,927 crore (Rs. 32673 crore) while total deposits for the fourth quarter stood at Rs.40,832 crore (Rs.38,448 crore).
Capital adequacy ratio (CAR) of the bank comfortably stood at 16.76 per cent.