City Union Bank (CUB) Q4 21/22 earnings summary

Executive summary

• Total business grew 9% YoY to ₹88,846 crore; net profit rose 28% to ₹760.16 crore and net interest income increased 5% to ₹1,916.49 crore.

• Deposits grew 7% to ₹47,689.67 crore and gross advances rose 11% to ₹41,156.01 crore; CASA increased 20% to ₹15,529.36 crore.

Financial highlights

• Total income increased 1% to ₹4,863.86 crore; total expenses declined to ₹4,103.70 crore from ₹4,230.63 crore, while provisions and contingencies fell to ₹835.15 crore from ₹875.02 crore.

• Operating profit rose 9% to ₹1,595.31 crore; other income increased 10% to ₹759.08 crore, mainly on treasury income and recoveries from suit-filed accounts.

• Gross advances grew ₹4,135 crore; investment holdings rose 29% to ₹12,294.26 crore, with government securities at 98.72% of investments.

• Tax provision increased to ₹225 crore from ₹100 crore; NPA provisions declined to ₹553.50 crore from ₹599 crore.

Outlook and guidance

• India’s real GDP growth for FY23 was projected at 7.2%; the outlook cited recovery potential alongside global geopolitical tensions, inflation and supply-chain disruption.

• Priorities included expanding digital banking, strengthening cybersecurity and using new digital products to attract customers; the network added 25 branches during FY22, reaching 727.