City Union Bank Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended December 31, 2014
January 24, 2015 at 04:26 am EST
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City Union Bank reported unaudited earnings results for the third quarter and nine months ended December 31, 2014. For the quarter, the company reported total income was INR 7,822.890 million against INR 7,051.089 million a year ago. Operating profit before provisions and contingencies was INR 1,682.953 million against INR 1,346.498 a year ago. Profit from ordinary activities before tax was INR 1,412.008 million against INR 1,055.831 million a year ago. Net profit from ordinary activities after tax was INR 1,027.008 million against INR 890.831 million a year ago. Net profit for the period was INR 1,027.008 million against INR 890.831 million a year ago. Diluted earnings per share before/after extra ordinary items were INR 1.71 against INR 1.64 a year ago.
For the nine months, the company reported total income was INR 23,093.186 million against INR 21,051.402 million a year ago. Operating profit before provisions and contingencies was INR 5,138.328 million against INR 4,370.056 a year ago. Profit from ordinary activities before tax was INR 3,894.438 million against INR 2,992.268 million a year ago. Net profit from ordinary activities after tax was INR 2,959.438 million against INR 2,637.268 million a year ago. Net profit for the period was INR 2,959.438 million against INR 2,637.268 million a year ago. Diluted earnings per share before/after extra ordinary items were INR 5.13 against INR 5.12 a year ago.
City Union Bank Limited (the Bank) is an India-based banking company. The Companyâs segments include Treasury, Corporate/Wholesale Banking, Retail Banking and Other Banking Operations. The Company has contemporary technology and infrastructure including automated teller machines (ATMs), net banking, mobile banking, e-wallet, social media banking for personal, as well as business banking customers. The Company has a network of approximately 727 branches with over 644 branches located in South India and approximately 83 branches in other states. The Company operates approximately 1,732 ATMâs. It serves industries, including textile, metal, paper and paper products, food processing, chemicals, rubber and plastics, engineering, beverage and tobacco, and automobiles.