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Updated: 11/06/2009 | 12:00 AM IST
Investors withdraw from City Union Bank as Q4 net profit falls
Capital Market
Thursday, June 11, 2009 (New Delhi)
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Meanwhile, the BSE Sensex was down 37.95 points, or 0.25%, 15,428.86.

On BSE, 3.09 lakh shares were traded in the counter. The stock had an average daily volume of 2.16 lakh shares in the past one quarter.

The stock hit a high of Rs 26.80 and a low of Rs 25.05 so far during the day. The stock hit a 52-week high of Rs 32.50 on 8 September 2008 and a 52-week low of Rs 11.10 on 6 March 2009.

The small-cap bank stock had outperformed the market over the past one month till 10 June 2009, surging 63.06% as compared to the Sensex's return of 30.23%. It had also outperformed the market in the past one quarter, rising 123.78% as compared to the Sensex's return of 89.53%.

The bank's current equity is Rs 32 crore. Face value per share is Rs 1.

The current price of Rs 25.25 discounts the bank's Q3 December 2008 annualized EPS of Rs 4.02, by a PE multiple of 6.28.

City Union Bank's total income rose 28.83% to Rs 255.59 crore in Q4 March 2009 over Q4 March 2008. The bank's net profit rose 20.05% to Rs 122.13 crore on 35.24% to Rs 928.08 crore in the year ended March 2009 over the year ended March 2008. The bank announced the results during trading hours today, 11 June 2009.

The bank's gross non-performing assets rose 23.09% to Rs 102.08 crore in Q4 March 2009 as compared to Rs 82.93 crore in Q4 March 2008. The ratio of gross NPA to gross advances declined to 1.80% as of 31 March 2009 from 1.81% as of 31 March 2008. The net NPA as of 31 March 2009 was at 1.08%, the bank said.

At the time of announcing results, the board of directors of the bank recommended a dividend at the rate of Rs 0.75 per share (75%).

The bank operates in four segments, namely treasury, retail banking, corporate banking and other banking operations.

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