It is a broadly described annual report of City Union Bank in the year of 2014. During the financial year, The Bank’s total income increased to Rs. 2,847 Crore from Rs. 2,462 Crore registering a growth of 15.64% reflecting the higher growth in average advances. The total deposits of the Bank increased by Rs. 1,712 Crore to cross the 22,000 mark to end up at Rs. 22,017 Crore registering a growth of 8.43% over the last year. The operating profit increased from Rs. 523 Crore to Rs. 581 Crore. The net profit marginally increased from Rs. 322 Crore to Rs. 347 Crore due to higher provisioning for NPAs and taxation. The paid-up capital of the bank increased to Rs. 54.27 Crore from Rs. 47.44 Crore.
The Board of Directors of the bank has recommended a dividend of @100% i.e. Rs. 1/- per equity share of face value Rs. 1/-, the same as paid during the last year.
More Annual Report of City Union Bank: