Business

CUB profit up 34 p.c.

City Union Bank has reported a 34 per cent rise in its net profit at Rs. 28.43 crores for the year ended March 31, 2002 against Rs. 21.29 crores in the previous year.

Deposits have risen to Rs. 1,973.71 crores from Rs. 1,611.62 crores while advances rose to Rs. 1,011.05 crores from Rs. 876.42 crores.

Total income was Rs. 260.16 crores. The capital adequacy ratio was comfortable at 13.97 per cent. The bank has recommended a dividend of 40 per cent, subject to approval of the Reserve Bank of India.

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