City Union Bank Q1 net up 22% at Rs 90 cr on low provisions

City Union Bank 's first quarter net profit surged 22 percent year-on-year to Rs 90.3 crore on lower provisions.

Net interest income jumped 35.8 percent to Rs 187.4 crore in April-June quarter from Rs 138 crore in a year ago period.

Gross non-performing asset (NPA) increased 12 bps quarter-on-quarter to 1.25 percent, but net NPA was unchanged at 0.63 percent.

Provisions and contingencies halved to Rs 20.5 crore in June quarter as against Rs 43.7 crore in previous quarter.

Also Read - Allahabad Bank Q1 net fall 20% on surge of bad loans

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