CITY UNION BANK LTD. - 532210 - Approval Of RBI For Appointment Of Whole-Time Director
Approval of RBI for appointment of Shri R Vijay Anandh, current Executive President of the Bank, as Whole-time Director designated as Executive Director of the Bank. CITY UNION BANK LTD. - 532210 - Announcement under Regulation 30 (LODR)-Earnings Call Transcript
4QFY24 Earnings Conference Call CITY UNION BANK LTD. - 532210 - Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate
Issue of Duplicate Share Certificate CITY UNION BANK LTD. - 532210 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Our Bank will be participating in the B & K Annual Investor Conference Trinity India 2024 to be held at Mumbai on May 31, 2024 CITY UNION BANK LTD. - 532210 - Corrigendum To Audited Financial Results Q4 And FY2024
Corrigendum to Audited Financial Results Q4 and FY2024 CUB's feat: 4-digit PAT for the first time
The bank said that its total business had crossed six digits for the first time in its history and stood at 1,02,138 crore for FY24 registering a growth of 6 per cent compared with 96,369 crore last year CITY UNION BANK LTD. - 532210 - Announcement under Regulation 30 (LODR)-Newspaper Publication
News Paper Advertisement on Q4FY2024 CITY UNION BANK LTD. - 532210 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
4QFY2024 EARNINGS CONFERENCE CALL ORGANISED BY AMBIT CALL ON MAY 20, 2024 CITY UNION BANK LTD. - 532210 - Announcement under Regulation 30 (LODR)-Earnings Call Transcript
Audio Recording on Q4FY2024 Q4FY24 Quarterly & FY24 Annual Result Announced for City Union Bank Ltd.
City Union Bank announced Q4FY24 & FY24 results: 1. Net Interest Income The Bank earned Net Interest Income of Rs 547 crore for Q4FY24 and Rs 2,123 crore for FY24 as against Rs 514 crore and Rs 2,163 crore respectively in Q4FY23 and FY23. 2. Non Interest Income Non Interest Income of the Bank for Q4FY24 was at Rs 175 crore as against Rs 195 crore for Q4FY23 and for FY24 it stood at Rs 742 crore compared to Rs 810 crore for FY23. 3. Operating Expenses The operating expense is Rs 370 crore for Q4FY24 as compared to Rs 292 crore in Q4FY23 and for FY24 the same was at Rs 1,348 crore as against Rs 1,155 crore for the corresponding period last year. 4. Operating Profit The Gross Profit was Rs 352 crore and Rs 1,517 crore respectively for Q4FY24 and FY24 as against Rs 417 crore and Rs 1,818 crore in the corresponding period last year. 5. Provisions & contingencies The Bank has made a provision of Rs 327 crore for FY24 as against Rs 690 crore towards NPA in the corresponding period last year. The recovery is more than the slippages, which had helped in reduced provision requirement. 6. Net Profit The PAT was Rs 255 crore in Q4FY24 as against at Rs 218 crore in Q4FY23 growing 17%. Our bank had recorded a four digit PAT for the first time in our history and our PAT stood at Rs 1,016 crore compared to Rs 937 crore registering a growth of 6%. Improved recovery resulting in lower provisioning requirement had helped to achieve PAT growth. 7. Deposits Total Deposits of the Bank had increased by 6% and increased to Rs 55,657 crore in Q4FY24 from Rs 52,398 crore in corresponding period last year. CASA portion stood at 31% to total deposits. Cost of deposit stood at 5.75% in Q4FY24 compared to 5.07% in the corresponding quarter last year. 8. Advances Total Advances increased by 6% for Q4FY24 to Rs 46,418 crore from Rs 43,971 crore in Q4FY23. Credit Deposit ratio stood at 84%. The yield on Advances is at 9.85% for Q4FY24 compared to 9.31% in Q4FY23. 9. Business Our total business had crossed 6 digits for the first time in our history and stood at Rs 1,02,138 crore for FY24 registering a growth of 6% compared to Rs 96,369 crore last year. With the implementation of digital lending coupled with addition of senior management team is auguring well for our future business growth. 10. Asset Quality The Gross NPA as on 31.03.2024 was reduced to 3.99% from 4.37% in Q4FY23. Net NPA has come down to Rs 899 crore and NNPA % was decreased to 1.99% from 2.36% for the same period. Our NNPA had come below the 2% mark after FY 21. The provision coverage ratio (PCR) as of 31.03.2024 is at 72% (including T/W) and 52% (excluding T/W). 11. Net Interest Margin Net Interest Margin is at 3.66% for Q4FY24 and 3.65% for FY24. NIM is within the guidance levels. 12. Return on Assets Return on assets for Q4FY24 is 1.48% and for FY24 it stands at 1.52% which is our long term average. 13. Return on Equity Return on Equity was at 12.39% in Q4FY24 and for FY24 it stands at 12.86%. 14. Cost to Income Ratio (CIR) Cost to Income Ratio increased to 47.06% in FY24 from 38.85% in the last financial year. Additional manpower as well as IT infrastructure cost pertaining to implementation of digital lending process are keeping the CIR at elevated levels. 15. Capital Adequacy The Bank’s capital adequacy as on 31.03.2024 as per Reserve Bank of India (RBI) guidelines on Basel III norms is 23.84% and Tier-1 capital adequacy was 22.80%, well above regulatory requirements. Result PDF