City Union Bank H1 income at Rs. 126 cr.

City Union Bank has achieved a higher total income of Rs. 125.97 crores in the six months ended September 30, 2001 against Rs. 104.22 crores in the corresponding period in 2000-01. Interest income has risen to Rs. 103.82 crores from Rs. 91.99 crores. Other income is higher at Rs. 22.16 crores against Rs. 12.23 crores. The operating profit has thus increased to Rs. 33.75 crores from Rs. 25.27 crores.

Provisions and contingencies accounted for Rs. 10 crores (Rs. 6.75 crores). Taxation claims Rs. 10 crores (Rs. 6.75 crores). The net profit has increased to Rs. 13.75 crores from Rs. 11.52 crores.

Deposits stood at Rs. 1,834.37 crores as on September 30, 2001. Gross advances were Rs. 981.93 crores. The bank has recently opened branches at Tambaram and Thiruvanmiyur in Chennai. It plans to open more branches at Rajamundhry (Andhra Pradesh), Tumkur (Karnataka) and Thrissur (Kerala).

The total income for the year ended March 31, 2001 was Rs. 213.87 crores and the net profit Rs. 21.30 crores.

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Section  : Business
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