City Union Bank Q3 Results Review - Balance Sheet Growth Slows To A Crawl: Yes Securities

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Yes Securities Report.The growth performance of City Union Bank is particularly disappointing since it has persisted and is despite a small base: The bread-and-butter micro, small, and medium enterprises advances have de-grown -2.0% QoQ and -4.3% YoY. However, management has stated that the MSME segment is improving now, and the bank is getting proposals for capacity expansion. Agri loans have de-grown -5.8% QoQ and -17.1% YoY.However, the unwinding of the Agri kisan credit card loan book is almost done now. The bank would try and achieve close to double digit growth for FY24..The sequential margin contraction was driven by interest reversal on funded interest term loan accounts:During this quarter, there was a ‘one-off’ interest reversal of Rs 250 million pertaining to non performing FITL accounts.Excluding this one-off impact, the net interest margin would have been 3.67% in Q3 FY24 and 3.69% for 9M FY24. NIM would be around current levels (‘current level’ likely to be excluding FITL impact) plus or minus 10 basis points..Click on the attachment to read the full report:.Interim Budget 2024-25 Review - Continuity Of Policies: Prabhudas Lilladher.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

City Union Bank Q3 Results Review - Balance Sheet Growth Slows To A Crawl: Yes Securities

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City Union Bank Q3 Results Review - Balance Sheet Growth Slows To A Crawl: Yes Securities

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