It is a broadly described annual report of City Union Bank in the year of 2011. During the financial year 2010-11, The Bank has crossed yet another milestone of Rs. 22000 Crores of total business as compared to Rs. 17000 Crores for the last year. The total deposits of the Bank stood impressively at Rs. 12914 Crores as on 31st March 2011 has grown by Rs. 2629 Crores or 26% over the last year. The Bank achieved an operating profit of Rs. 361.03 Crores against Rs. 255.79 Crores recorded in the previous year translating into a rise of 41%. The net profit too increased by 41% from Rs. 152.76 Crores to Rs. 215.05 Crores. The Bank’s paid-up Capital was Rs. 40.50 Crore as on 31st March 2011 and the Net worth improved from Rs. 825.64 Crore as on 31st March 2010 to cross a significant milestone and reach Rs. 1006.62 Crore as on 31st March 2011.
The Board of Directors of the bank has recommended a dividend of @85% on the equity shares for the financial year 2010-2011 as against @75% paid out last year.
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