Thursday, February 10, 2011

CITY UNION BANK = RESULTS = FOR Q3 FY 2011 = QTR ENDING DECEMBER 2010 = NET PROFIT UP 42%


CITY UNION BANK
Q3 FY 2011 RESULTS
Q/E DEC,2010

Net Interest Income for Q3FY 2011 went up smartly by 39.% to 104.75 Crore.

Operating Profit increased by 27% for Q3FY 2011 to 90 Crore.

PAT grew by 42% for Q3FY 2011 to 57.70 Crore.

Net interest margin for the quarter stood healthy at 3.48% .

Return on assets high at 1.71%.

Nine Months FY-2011:-

Net Interest Income grew robustly by 57.83% from 190.66 Crore to 300.91 Crore.

Operating Profit increased by 45% from 182.21 to 263.61 Crore.

PAT was up by 39% from 117.95 Crore to 163.65 Crore.

Net Interest margin has significantly increased to 3.58% from 2.98% as compared to the corresponding period in FY-2010. The Return on average assets for the Nine months period was higher at 1.74% as against 1.60% during the same period of last year

Gross NPA level was reduced from 1.99% to 1.28%.

Net NPA level was brought down from 1.09% to 0.53% as on 31.12.2010.

Provision coverage ratio as at 31.12.2010 stood at 71%.

Total Deposits of the bank increased by 35.24% to 11978 crore as on Dec 31 2010 from 8857 crore as on Dec 31, 2009.

Gross Advances went up by 39.69 % to 8517 crore as on 31 Dec 2010 from 6097 crore as on Dec 31, 2009.

Growth in Current and Savings Account deposits (CASA) was 25.08% and the growth in Term Deposits was 37.79% as on
Dec 31, 2010.

Bank’s Balance Sheet size increased by 30.75 % to 13547 crore from 10361 crore as on 31st Dec, 2009.

Other Performance Highlights and Ratios : ( For the Nine Months- FY-2011)
Advances at 8517 crore: Growth of 39.69%
Deposits at 11978 crore; Growth of 35.24 %
Annualized Return on Assets of 1.74% and Return on Equity 24.08%
Net Interest Margin at 3.58%.
Capital Adequacy Ratio- Basel -I – 11.32
II- 13.06
Book value per share - 23.54
Basic EPS (Not annualized) - 4.08
Diluted EPS (Not annualized) 4.04

Functional Performance of the Bank:-

1. Customers can avail the Point of Sale (POS) services for their purchases.
2. The bank has provided online facility for opening of Fixed Deposit and also for repayment of Loan.
3. Customer can pay TNEB bill payments throughout Tamil Nadu by using on-line services
4. The Bank has entered into an Agreement with TECK Process for merchant gateway and utility payments through Net banking is being provided.
5. Instant VISA Card is being provided to new customers at the time opening of Account.
6. During the current fiscal the bank so far has opened 14 branches and 37ATMs (Including off-site 10 ATMs).

RESULTS TABLE:

CITY UNION BK
31-Dec-10
30-Sep-10
30-Jun-10
31-Mar-10
31-Dec-09
Interest on Advances
24726.31
22920.05
21146.67
19676.09
18965.96
DIF %1
247
7.88
16.93
25.67
30.37
Income on Investments
6386.58
6032.21
5400.27
5150.68
5042.33
DIF %2
64
5.87
18.26
23.99
26.66
Income on Balances With RBI
184.03
261.79
175.16
183.06
249.12
Interest Earned
31296.92
29214.05
26722.1
25009.83
24257.41
Other Income
3631.89
4394.25
3212.47
3221.62
3600.99
Total Income
34928.81
33608.3
29934.57
28231.45
27858.4
DIF %3
349
3.93
16.68
23.72
25.38
Interest Expended
20822.23
18814.42
17505.14
16261.38
16728.95
NII
10474.69
10399.63
9216.96
8748.45
7528.46
DIF %4
105
0.72
13.65
19.73
39.13
Employees Cost
2459.66
2468.72
2309.07
2038.18
1920.93
Other Operatng Expenses
2647.88
2823.7
2259.65
2573.55
2118.28
Operatng Expenses
5107.54
5292.42
4568.72
4611.73
4039.21
Operating Profit
8999.04
9501.46
7860.71
7358.34
7090.24
DIF %5
90
-5.29
14.48
22.3
26.92
Provisions
1079.04
1592.96
1623.63
3552
1000
Profit  before tax
7920
7908.5
6237.08
3806.34
6090.24
Tax Expense
2150
1750
1800
325
2025
Net Profit
5770
6158.5
4437.08
3481.34
4065.24
DIF %6
58
-6.31
30.04
65.74
41.94
Face Value (in Rs.)
1
1
1
1
1
Paid-up Equity
4035.83
4017.05
3999.89
3995.96
3881.03
Capital Adequacy Ratio
11.32
11.84
11.67
12.09
13.69
Basic EPS
1.43
1.54
1.11
0.91
1.27
Diluted EPS
1.42
1.52
1.1
0.9
1.26
Gross/Net NPA
4487.58
4279.16
3891.78
3966.89
6559.51
% of Gross/Net NPA
0.53
0.54
0.54
0.58
1.09
Return on Assets
1.71
1.98
1.52
1.29
1.6
Public holding (%)
100
100
100
100
100

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