City Union Bank has inaugurated two new branches in state of Tamil Nadu on November 13, 2013. The bank opened the first branch at Chinnalapatty, Dindigul while the other branch is opened at Balakrishnapuram, Dindigul.
The 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.