CUB turns profit on lower provisions
The Hindu
City Union Bank has reported a standalone net profit of ₹111.18 crore for the fourth quarter ended March 2021, against a net loss of ₹95.29 crore in the year-earlier period on account of lower provisi
City Union Bank has reported a standalone net profit of ₹111.18 crore for the fourth quarter ended March 2021, against a net loss of ₹95.29 crore in the year-earlier period on account of lower provisioning. Provisions and contingencies declined to ₹239 crore from ₹450 crore. Total income contracted to ₹1,121 crore from ₹1,221 crore, it said in a statement. Total business grew to ₹81,558 crore from ₹75,408 crore. Deposits rose 9% and advances 7%.
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