City Union Bank rose 2% to Rs.177 in the morning trades and is currently just about holding on to the gains.
The stock price rose after the Bank, today morning, announced its Q1FY19 results. It was a steady set of numbers with stability in asset quality.
Its Net profit for the quarter rose 15% (YoY) at Rs.162 crore. NII showed a 10% rise at Rs.375 crore.
Gross NPA came down a tad from 3.03% to 3.02% (QoQ) while Net NPA remained status quo at 1.70%.
In today’s time of burgeoning NPAs, such steady quality also bodes celebration!