NEWS & ADVICE : FIXED DEPOSITS
City Union Bank posts 48% growth in net profits
By Neelima Shankar
May 30, 2011
Print    Email    RSS   

South based private sector lender City Union Bank has booked 48% rise in net profits for last quarter of the fiscal last ended. The net profit of the bank for Q4 amounted to Rs 51 crore as against Rs 35 crore for the same period in a year prior to that.

The increase in profits can be attributed to better net interest margin (NIM) reported by the bank.

The NIM of the bank increased to 3.64% as against 3.15% earlier owing to dip in the cost of deposits of the bank, said its MD and CEO, Mr N Kamakodi.

The fiscal last ended saw the net worth of the bank cross the Rs 1000 crore mark.


 


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Haven’t filed a return of your income?...
Fixed deposits in India: Benefits,...
Medical Insurance: Save tax along with health
Infrastructure bonds: another tax saving...
Recurring deposits: to the benefit of the...


NANGAL: CaℒL Giℛℒ In Una 09855660911 Escoℛt...
Chandigarh@CaℒL Giℛℒ In Rajpura +O9855660911...
If I invest 100000 rupees deposit for 2 year , how...

NEWS THIS WEEK
Federal Bank launched V connect for its customers Feb 12, 2015
Andhra Bank on expansion mode Feb 11, 2015
Dena Bank earned a profit of 13%. Feb 9, 2015
Banks expected to cut down the rates Feb 5, 2015
RBI kept the rates unchanged Feb 4, 2015
News Archive