City Union Bank has opened three new branches in Chennai on November 07, 2013. The bank has opened the branches at Thirumazhisai, Ayappakkam and Thirunindravur in the state of Tamil Nadu.
City Union Bank’s first quarter net profit surged 22 percent year-on-year to Rs 90.3 crore on lower provisions. While, net interest income jumped 35.8 percent to Rs 187.4 crore in April-June quarter from Rs 138 crore in a year ago period. The company’s gross non-performing asset (NPA) increased 12 bps quarter-on-quarter to 1.25 percent, but net NPA was unchanged at 0.63 percent.