City Union Bank Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2022
February 11, 2023 at 06:22 am
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City Union Bank Limited reported earnings results for the third quarter and nine months ended December 31, 2022. For the third quarter, the company reported net interest income was INR 5,557.29 million compared to INR 4,899.69 million a year ago. Net income was INR 2,178.39 million compared to INR 1,961.16 million a year ago. Basic earnings per share from continuing operations was INR 2.94 compared to INR 2.65 a year ago. Diluted earnings per share from continuing operations was INR 2.92 compared to INR 2.62 a year ago.
For the nine months, net interest income was INR 16,485.41 million compared to INR 14,158.22 million a year ago. Net income was INR 7,194.36 million compared to INR 5,512.08 million a year ago. Basic earnings per share from continuing operations was INR 9.73 compared to INR 7.46 a year ago. Diluted earnings per share from continuing operations was INR 9.63 compared to INR 7.37 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.