City Union Bank has reported a five per cent rise in its profit after tax for the third quarter ended December 31, 2013, at Rs. 89.09 crore against Rs. 85.22 crore in the same period in the previous year. Total income has risen by 14 per cent to Rs. 710.91 crore from Rs. 621.46 crore in the year-ago period. Net interest income rose by 21 per cent to Rs. 197.54 crore from Rs. 163.43 crore.
Addressing presspersons here on Thursday, N. Kamakodi, Managing Director and CEO, said the results should be seen in the light of challenges facing the industry in the form of mounting non-performing assets (NPA). Gross and net NPAs stood at 1.70 per cent and 0.89 per cent, respectively, as on December 31, 2013.
The bank witnessed a 30 per rise in operating expenses at Rs. 127.65 crore (Rs. 98 crore).
Total business of the bank registered a rise of 10 per cent at Rs. 36,941 crore as on December 31, 2013, against Rs. 33,556 crore at the end of December 31, 2012.
