Net interest income (NII) de-grew by 3.91% to Rs 195.02 crore in Q4 FY23 as compared to Rs 202.95 crore in Q4 FY22. For Q4 FY23, the NIM was at 3.65% as against 4.01% in the corresponding period last year.

The bank's operating profit before provisions and contingencies fell 5.19% to Rs 417.04 crore in Q4 FY23 as compared to Rs 439.85 crore recorded in Q4 FY22.

On full year basis, the private bank's net profit increased 23.33% to Rs 937.48 crore on 13.59% rise in total income to Rs 5,524.70 crore in FY23 over FY22.

The bank made a provision of Rs 880 crore as of 31 March 2023 as against Rs 835 crore in the corresponding period last year. Provision coverage ratio (PCR) stood at 69% as of 31 March 2023 as against 64% last year.

On asset quality front, the gross non performing assets (GNPA) was Rs 1,92016 crore in Q4 FY23 as against Rs 1,933.18 crore in Q4 FY22.The ratio of gross NPA stood at 4.37% in Q4 FY23 as compared to 4.70% in Q4 FY22. The ratio of net NPA stood at 2.36% in Q4 FY23 as compared with 2.95% in Q4 FY22.

Total deposits of the bank increased 10% for FY23 to Rs 52,398 crore from Rs 47,690 crore recorded in the corresponding quarter previous year. CASA rose to Rs 156,569 crore in FY23 as against Rs 155,294 crore reported in FY22. CASA portion stood at 30% to total deposits.

Total advances increased by 7% for FY23 to Rs 43,971 crore from Rs 41,156 crore in FY22. Credit deposit ratio stood at 84%.

The bank's capital adequacy as on 31 March 2023 as per Reserve Bank of India (RBI) guidelines on Basel III norms was 22.34% and Tier-1 capital adequacy was 21.27%, well above regulatory requirements.

Meanwhile, the board recommended dividend of Re 1 per equity share for the financial year ended 31 March 2023, subject to shareholder's approval.

City Union Bank offers a wide range of banking and financial services across India, including both domestic and International banking services. It is a private sector bank with 752 branches across 16 states and three Union territories.

The scrip rose 1.42% to end at Rs 139.40 on Friday, 26 May 2023.