City Union Bank Ltd. share price target

City Union Bank (CUB) reported stable operating performance during Q1FY21. NII for the quarter grew by 5% YoY to Rs 437 cr. Operating profit of the bank grew merely by 1% YoY to Rs 356 cr. Provision remained higher due to Covid related contingent provision. CUB has made Covid provision of Rs 100 cr during the quarter, taking the total at Rs 225 cr (Rs 125 cr in Q4FY20). The bank has reported 17% decline in net profit at Rs 154 cr. On a sequential basis, bank has returned back to profitability as it had reported Rs 95 cr loss in Q4FY20, was supported by better margins, strong treasury gain and cost control. Asset quality of the bank...

NII growth was healthy at 4.8% YoY to | 437 crore on account of stable margins. NIMs were down 13 bps YoY to 3.98% (flat QoQ). Other income was at | 161 crore mainly supported by healthy growth in treasury income. Muted topline growth coupled with controlled opex led operating profit to come in at | 356 crore, up 1.3% YoY, 6% QoQ. QoQ drop in provisioning led PAT to come in at | 154 crore against loss of | 95 crore in Q4FY20. Fresh slippages reduced to | 3 crore on account of standstill asset classification norms. GNPA and NNPA were down 19 bps & 18 bps QoQ to...

City Union Bank Ltd (CUB), the oldest private sector bank in India, is a mid-sized commercial bank headquartered at Tamil Nadu, having a network of 700 branches and 1,793 ATMs spread across the country and a loan book size of Rs.34,536cr....

City Union Bank (CUBK) reported a better-than-expected performance (Rs 1,540mn PAT vs. Rs 953mn loss in Q4FY20) led by treasury gains, improved cost controls, stable NIM and contained provisions. Loan growth was moderate at 7% YoY,

City Union Bank Ltd (CUB), the oldest private sector bank in India, is a mid-sized commercial bank headquartered at Tamil Nadu, having a network of 700 branches and 1,793 ATMs spread across the country and a loan book size of Rs.34,576 Cr. CUB reported net loss of Rs.95 Cr on account of higher provision (Rs.450 Cr) due to elevated NPA and Covid-19 related concerns....

Background: City Union Bank (CUB) among the smaller-sized banks in the private sector space operates a network of 700 branches. With about 2/3rds of its branches located in Tamil Nadu, the bank's business is largely skewed towards the Southern India. Majority of its business comes from branches located in South India. CUB has a significant chunk of its branches in urban and semi-urban areas. With no identifiable promoters CUB is run by a team of professionals. A slew of...

City Union Bank Ltd (CUB), the oldest private sector bank in India, is a mid-sized commercial bank headquartered at Tamil Nadu, having a network of 660 branches and 1,757 ATMs spread across the country...

City Union Bank Ltd (CUB), the oldest private sector bank in India, is a mid-sized commercial bank headquartered at Tamil Nadu, having a network of 660 branches and 1,757 ATMs spread across the country and a loan book size of ~Rs33,800cr. Total business grew at 11% YoY with deposits and advances growing at 12%/10% YoY while sequential growth remained flat. CASA ratio declined to 23.35% with a 10% CASA growth on a YoY basis and 7% decline on QoQ basis....

CUBK's Q3FY20 operating performance was slightly below estimates with slower business traction and a rise in slippages. NIM improvement and higher recoveries were the silver lining. Profitability was supported by lower tax provisions.

Background: City Union Bank (CUB) among the smaller-sized banks in the private sector space operates a network of 660 branches. With about 2/3rds of its branches located in Tamil Nadu, the bank's business is largely skewed towards the Southern India. Majority of its business comes from branches located in South India. CUB has a significant chunk of its branches in urban and semi-urban areas. With no identifiable promoters CUB is run by a team of professionals. A slew of...