City Union Bank Q2 net profit up 17% at Rs 145 cr

Private sector lender City Union Bank today reported 17 per cent rise in net profit to Rs 145 crore for the second quarter ended September 30, 2017-18.

The bank had registered a net profit of Rs 124 crore during the July-September quarter of last fiscal.

Its total income rose to Rs 996.12 crore during the quarter under review, from Rs 894.87 crore in the year-ago period, the bank said in a regulatory filing.

Its asset quality deteriorated slightly as gross non- performing assets (NPAs) as a percentage of gross loans increased to 3.07 per cent at the end of September a year ago, compared to 2.69 per cent a year ago.

Likewise, net NPAs rose slightly to 1.76 per cent from 1.63 per cent a year ago.

Thus, provisioning for bad loans and contingencies were raised by the bank to Rs 129.29 crore for the second quarter of 2017-18 compared to Rs 67 crore in the same quarter of the last fiscal.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)