It is a broadly described annual report of City Union Bank in the year of 2012. During the financial year, The Bank’s total income rising by 38% to Rs. 1,904 Crore. Similarly, the total expenses increased to Rs. 1,477 Crore on higher deposit interest and other operating expenses. The total deposits of the Bank increased by Rs. 3,427 Crore to reach Rs. 16,341 Crore as on 31st March 2012 which is 27% higher than the previous year. The Bank achieved an operating profit of Rs. 427 Crore against Rs. 361 Crore recorded in the previous year recording a growth of 18%. The net profit increased to Rs. 280 Crore from Rs. 215 Crore in the previous year registering a growth of 30.23% during the financial year 2011-12. The Bank’s paid-up capital was Rs. 40.82 Crore as on 31st March 2012 and the Net worth improved from Rs. 1,006.62 Crore as on 31st March 2011 to Rs. 1,243.09 Crore as on 31st March 2012.
The Board of Directors of the bank has recommended a higher dividend of @100% i.e. Rs. 1.00 per equity share compared to Rs. 0.85 per equity share paid last year.
More Annual Report of City Union Bank: