Despite financial downturn, the Kumbakonam-based City Union Bank registered a growth of 4.89 per cent in net profit at Rs 84.35 crore for the quarter ended September 30, 2013, as against Rs 80.42 crore registered during the same quarter last year.
Addressing a press conference here on Friday, the bank’s Managing Director and CEO N Kamakodi said that the bank’s gross non performance asset (NPA) has grown from Rs 166.07 crore during the same period last year to Rs 263.28 crore with the percentage of gross NPAs growing from 1.24 per cent to 1.66 per cent during this quarter.
The bank’s total deposits increased by 19 per cent to Rs 21,056 crore as on September 30, 2013 from Rs 17,689 crore as on September 30, 2012. Advances went up by 18 per cent to Rs 15,849 crore as on September 30, 2013 from Rs 13,437 crore as against the same period last year.
The bank is opening its 397th branch at Tirumudivakkam and soon will open its 400th branch in Teynampet, Kamakodi said.