City Union Bank Ltd. (CUB) announced its performance results for the 1st Quarter of Financial Year 2021-22. Earlier, the Board of Directors of the bank approved the working results.
The bank’s deposits increased by 9% from Rs. 41,026 crore to Rs. 44,606 crore. Advances grew by 5% from Rs. 34,536 crore to Rs. 36,395 crore. The bank’s net interest income up by 2% from Rs. 437 crore to Rs. 448 crore. Total Business up by 7% from Rs. 75,562 crore to Rs. 81,001 crore.
CUB’s net profit increased by 12% from Rs. 154 crore to Rs. 173 crore. CASA deposits increased by 22% from Rs. 10,098 crore to Rs. 12,299 crore and the CASA ratio stood at 28% to total deposits. The net interest margin stood at 3.86%, and return on Assets 1.29%.
The bank’s capital adequacy as on 30th June 2021 as per Reserve Bank of India (RBI) guidelines on Basel III norms is 19.58% and Tier-1 capital adequacy was 18.51%, well above regulatory requirements.
The bank continues to expand its Core Banking Services with a network of 702 branches and 1,727 ATMs as on 30th June 2021.
Corporate Mobile Banking
CUB’s Corporate Mobile banking facility is made available for both Android and IOS users. All major functionalities available in Corporate Mobile Banking.
For security purpose, the bank has implemented device binding for the mobile banking app. With this device binding, mobile banking app can be accessed from the device having registered mobile number only.
Bill Pay & Recharge – ‘BBPS’ (Bharat Bill Payment System)
The bill payment module in our net banking is enhanced with bill payment options – Insta pay and Register & Pay. The bill payments can be done for various categories, payment details can be added and also bill payments can be scheduled. For easy and convenient auto payment can be done on due date.
SCAN & PAY, UPI Integration with ALL IN ONE APP
UPI and Scan and Pay services are available in both Pre Login and Post Login of All in one App. Since it is available in Pre login, non-CUB customers can also use this application for UPI services.
Quick pay option in Net / Mobile Banking
‘Quick Pay’ has been introduced in our Net/Mobile Banking application. Customers can make payments to the beneficiaries up-to Rs. 10,000/- per day without adding them as beneficiaries.