Shares of City Union Bank soared after the opening bell today, as the lender reported fourth quarter earnings on Monday, along with dividend and bonus issue for shareholders.
City Union Bank share price surged 8.22% to trade at Rs 293.5 apiece. The scrip was trading 5.16% higher at 10:10 a.m. The benchmark NSE Nifty 50 was up 0.27%.
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City Union Bank Q4 Results
City Union Bank posted a 24.9% growth in net profit at Rs 360 crore in the fourth quarter of the previous financial year. The lender had reported a net profit of Rs 288 crore in the January-March period a year ago. The net interest income, which is the difference of interest earned and interest paid, for the period under review rose 30.9% to Rs 786 crore in the fourth quarter compared to Rs 600 crore in the same period of the previous fiscal, City Union Bank informed in an exchange filing.
The bank's asset quality improved during the fourth quarter as the gross non-performing assets ratio stood at 1.9% from 2.2% in the previous quarter. In absolute terms, the gross NPA was at Rs 1,273.08 crore from Rs 1,320 crore in the previous quarter. The net NPA ratio dropped 10 basis points to 0.68% from 0.78% in the previous quarter. In absolute terms, the net NPA fell to Rs 449.42 crore from Rs 469.34 crore. Hence, the bank's provision and contingencies rose to Rs 120 crore as against Rs 78 crore in the same period a year ago.
Along with Q4FY26 results, the lender recommended a dividend of Rs 2 per share for the financial year 2025-26. However, the payment will be subject to approval by the shareholders of the Bank at the ensuing annual general meeting.
The bank will also issue a bonus in the ratio of 1:3, which means that the shareholders will get one equity share for every three fully paid up share held as on the record date. The record date was not announced City Union Bank in its exchange filing said, while the bonus shares will be received within two months from the date of the board approval.
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