City Union Bank has fixed the record date to find the shareholders eligible for its upcoming bonus issue, accoridng to an exchange filing on Monday.
The bank has fixed June 12 as the record date for the 1:3 bonus issue. In addition the bank recommended a dividend of Rs 2 per share for the financial year 2025-26.
City Union Bank reported a 24.9% surge profit at Rs 360 crore in the fourth quarter of the previous fiscal. The lender had posted a net profit of Rs 288 crore in the January-March period a year ago, City Union Bank said in a regulatory filing.
The net interest income—the difference of interest earned and interest paid— for the quarter grew 30.9% to Rs 786 crore in the fourth quarter of as against Rs 600 crore in the same period of the last fiscal.
City Union Bank's asset quality also improved during the quarter under review, with the gross non-performing assets ratio at 1.9% from 2.2% in the previous quarter. In absolute terms, the gross NPA (non-performing asset) was at Rs 1,273.08 crore from Rs 1,320 crore in the previous quarter.
ALSO READ: City Union Bank Declares 1:3 Bonus Issue, Rs 2/Share Dividend. Check Details
The net NPA ratio fell 10 basis points to 0.68% from 0.78% in the preceding quarter. In absolute terms, the net NPA fell to Rs 449.42 crore from Rs 469.34 crore.
This resulted in the bank's provision and contingencies advancing to Rs 120 crore as against Rs 78 crore in the year-ago period.
Share price of City Union Bank, saw a 0.54% uptick to Rs 249.90, at the end of the day's trade, compared to a 1.32% uptick of the NSE Nifty 50.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
