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City Union Bank Ltd share Price Today

Company details

147.94
150.84
119.50
167.80
6M Return -5.65%
1Y Return 19.14%
Mkt Cap.(Cr) 10,981.94
Volume 6,029,496
Div Yield 1.01%
OI
-
OI Chg %
-
Volume 6,029,496

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Incur '0' Brokerage upto ₹500
Divergence impacts quarter; growth outlook unclear
About The Stock

    City Union Bank is an old private sector bank with focus on MSME and agri loans that form 63% of overall advances.

    • Strong presence in south India with 669 out of total 752 branches
    • Total 99% of bank’s advances are secured in nature
Q3FY23

    Decline in NIMs and higher provisions impacted earnings.

    • Advances grew 12% YoY to ₹ 43009 crore. Deposits up 7% YoY with CASA growth at 5% YoY
    • NII up 13.4% YoY (declined 2.1% QoQ). NIMs declined 21 bps QoQ at 3.88%
    • GNPA up 26 bps QoQ to 4.62%. Restructured book declined to ~4%

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Research view on more stocks

City Union Bank announced Q4FY24 & FY24 results:

1. Net Interest Income

The Bank earned Net Interest Income of Rs 547 crore for Q4FY24 and Rs 2,123 crore for FY24 as against Rs 514 crore and Rs 2,163 crore respectively in Q4FY23 and FY23.

2. Non Interest Income

Non Interest Income of the Bank for Q4FY24 was at Rs 175 crore as against Rs 195 crore for Q4FY23 and for FY24 it stood at Rs 742 crore compared to Rs 810 crore for FY23. 

3. Operating Expenses

The operating expense is Rs 370 crore for Q4FY24 as compared to Rs 292 crore in Q4FY23 and for FY24 the same was at Rs 1,348 crore as against Rs 1,155 crore for the corresponding period last year.

4. Operating Profit

The Gross Profit was Rs 352 crore and Rs 1,517 crore respectively for Q4FY24 and FY24 as against Rs 417 crore and Rs 1,818 crore in the corresponding period last year.

5. Provisions & contingencies

The Bank has made a provision of Rs 327 crore for FY24 as against Rs 690 crore towards NPA in the corresponding period last year. The recovery is more than the slippages, which had helped in reduced provision requirement.

6. Net Profit

The PAT was Rs 255 crore in Q4FY24 as against at Rs 218 crore in Q4FY23 growing 17%. Our bank had recorded a four digit PAT for the first time in our history and our PAT stood at Rs 1,016 crore compared to Rs 937 crore registering a growth of 6%. Improved recovery resulting in lower provisioning requirement had helped to achieve PAT growth.

7. Deposits

Total Deposits of the Bank had increased by 6% and increased to Rs 55,657 crore in Q4FY24 from Rs 52,398 crore in corresponding period last year. CASA portion stood at 31% to total deposits. Cost of deposit stood at 5.75% in Q4FY24 compared to 5.07% in the corresponding quarter last year.

8. Advances

Total Advances increased by 6% for Q4FY24 to Rs 46,418 crore from Rs 43,971 crore in Q4FY23. Credit Deposit ratio stood at 84%. The yield on Advances is at 9.85% for Q4FY24 compared to 9.31% in Q4FY23.

9. Business

Our total business had crossed 6 digits for the first time in our history and stood at Rs 1,02,138 crore for FY24 registering a growth of 6% compared to Rs 96,369 crore last year. With the implementation of digital lending coupled with addition of senior management team is auguring well for our future business growth.

10. Asset Quality

The Gross NPA as on 31.03.2024 was reduced to 3.99% from 4.37% in Q4FY23. Net NPA has come down to Rs 899 crore and NNPA % was decreased to 1.99% from 2.36% for the same period. Our NNPA had come below the 2% mark after FY 21. The provision coverage ratio (PCR) as of 31.03.2024 is at 72% (including T/W) and 52% (excluding T/W).

11. Net Interest Margin

Net Interest Margin is at 3.66% for Q4FY24 and 3.65% for FY24. NIM is within the guidance levels.

12. Return on Assets

Return on assets for Q4FY24 is 1.48% and for FY24 it stands at 1.52% which is our long term average.

13. Return on Equity

Return on Equity was at 12.39% in Q4FY24 and for FY24 it stands at 12.86%.

14. Cost to Income Ratio (CIR)

Cost to Income Ratio increased to 47.06% in FY24 from 38.85% in the last financial year. Additional manpower as well as IT infrastructure cost pertaining to implementation of digital lending process are keeping the CIR at elevated levels.

15. Capital Adequacy

The Bank’s capital adequacy as on 31.03.2024 as per Reserve Bank of India (RBI) guidelines on Basel III norms is 23.84% and Tier-1 capital adequacy was 22.80%, well above regulatory requirements. 

Result PDF

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City Union Bank Ltd shares SWOT Analysis

Strengths (9)

  • Rising Net Cash Flow and Cash from Operating activity
  • Effectively using its capital to generate profit - RoCE improving in last 2 years
  • Efficient in managing Assets to generate Profits - ROA improving since last 2 year

Weakness (3)

  • Red Flag: High Interest Payments Compared to Earnings
  • MFs decreased their shareholding last quarter
  • High volume, top losers

Opportunity (3)

  • Companies with current TTM PE Ratio less than 3 Year, 5 Year and 10 Year PE
  • Decrease in NPA in recent results
  • Decrease in Provision in recent results

Threats (0)

Data not found

Resistance and support

R1 150.1
R2 151.9
R3 153.0
Pivot

149.02

S1 147.2
S2 146.1
S3 144.3
EMA SMA
147.0
147.4
145.9
144.0
145.7
151.3
143.7
142.2
Delivery and volume
CLIENT NAME DEAL TYPE ACTION DATE AVG. PRICE QUANTITY EXCHANGE
GRANDEUR PEAK GLOBAL TRUST GRANDEUR PEAK GLOBAL CONTRARIAN FUND Block Purchase 2023-10-20 138.5 900496 BSE
GRANDEUR PEAK GLOBAL CONTRARIAN FUND Block Sell 2023-10-20 138.5 900496 BSE
ISHARES CORE MSCI EMERGING MARKETS ETF Block Purchase 2022-10-25 187.05 1010036 BSE
Name Category Shares
VISALAM G PUBLIC 2.04%
HUF PUBLIC 2.36%
VILASINI VAIDYANATHAN PUBLIC 2.04%

OUR RESEARCH VIEW

Investment recommendation
Divergence impacts quarter; growth outlook unclear
Call Date
14 Feb 2023
Entry Price 147.00
Target Price 160.00
Duration
12-18 Month

FINANCIALS

Sales
Operating Profit
Profit after Tax
Equity
Reserves and Surplus
Debt
Sales
Operating Profit
Profit after Tax
PE
Debt/Equity
P BV

City Union Bank Ltd Stocks COMPARISON

Financials( in Cr) City Union Bank Ltd HDFC Bank Ltd ICICI Bank Ltd State Bank of India Axis Bank Ltd
Price 148.27 1,580.75 1,107.35 843.90 1,174.65
% Change -0.66 0.42 -1.09 0.57 -1.12
Mcap Cr 10,981.94 1,200,881.71 777,618.38 753,148.01 362,563.95
Revenue TTM Cr 4,714.34 170,754.05 121,066.81 439,188.51 87,448.37
Net Profit TTM Cr 937.48 46,148.70 34,463.03 68,138.26 10,852.66
PE TTM 10.81 18.77 17.60 11.22 13.75
1 Year Return 19.14 -1.25 18.31 45.84 20.58
ROCE 0.00 0.00 0.00 0.00 0.00
ROE 13.35 17.20 17.66 18.97 8.75
INSIDER & INSTITUTIONAL ACTIVITY

Equity Capital: 7,457.21 Cr FV: 1.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 35,930.46 -6,140.05
LAST 3M 112,173.55 -45,499.40
LAST 6M 183,830.47 -16,034.02
LAST 12M 290,122.07 99,526.79
City Union Bank Limited - Loss of Share Certificates

Jun 13, 2024 l NSE Announcement

City Union Bank Limited - Updates

Jun 12, 2024 l NSE Announcement

City Union Bank Limited - Loss of Share Certificates

Jun 11, 2024 l NSE Announcement

Date Action Type Ratio
Aug 11, 2023 Dividend 100
Aug 10, 2022 Dividend 100

City Union Bank Ltd Information

Stock PE (TTM)
10.81
Promoter Holding
0%
Book Value
113.4298
ROE
13.35%
Description
  • City Union Bank Ltd is one of the leading scheduled commercial banks in the private sector with major presence in urban, semi-urban and rural centers in South India. The Bank operates in four segments, namely Treasury, Retail Banking, Corporate Banking and Other banking operations. Their products include savings accounts, current accounts, fixed deposits, cash certificates, VIP deposit, Flexifix deposits, CUB Smart deposits and tax saver gold deposit account. The Bank`s services include automated teller machine (ATM) services, mail transfer, demand draft, phone transfer, standing instructions and nomination facility. The main focus of the bank is lending to MSME, Retail/Wholesale Trade with granular asset profile including providing short term and long term loans to agricultural sector. Presently, the Bank has a network of 752 branches of which 669 branches are in Southern States which constitutes around 89% of the total branch network and 83 branches in other states. It has 519 branches in the State of Tamil Nadu constituting about 69% of its total branch network City Union Bank Ltd was incorporated as a limited company on 31 October 1904 with the name, The Kumbakonam Bank Ltd. In 30 January 1930, the first Branch of the Bank was opened at Mannargudi in Tamil Nadu. Thereafter, branches were opened at Nagapattinam, Sannanallur, Ayyampet, Tirukattupalli, Tiruvarur, Manapparai, Mayuram and Porayawithin oenty five years. In the year 1957, the Bank took over the assets and liabilities of the Common Wealth Bank Ltd and as a result five branches, namely Aduthurai, Kodavasal, Valangaiman, Jayankondacholopuram and Ariyalur were added to the Bank. In April 1965, two other local banks, namely The City Forward Bank Ltd and The Union Bank Ltd were amalgamated with the Bank under a scheme of amalgamation with the resultant addition of six more branches, namely Kumbakonam-Town, Nannilam, Koradacherry, Tiruvidaimarudur, Tirupanandal and Kuttalam. Consequently, the name of the Bank was changed to The Kumbakonam City Union Bank Ltd. In November 1965, the Bank`s first branch at Chennai was opened at Thiyagaraya Nagar. During the year 1968-1973, the Bank opened their branches at Eravancheri, Sembanarkoil, Tiruchirapalli, Madurai, Thanjavur, Dindigul, Keelapalur, Tirumakkottai, Kottur, Tiruvarur Town and Coimbatore. In the next three years, they opened the branches at Periyakulam, Mandaveli (Cehnnai), Pattukkottai, Triplicane (Chennai), Cuddalore, Pudukkottai, Chidambaram and Salem. During the period 1977-1979, the bank opened ten more branches including those at George Town (Madras), Mount Road (Madras), Tirunelveli and Karaikudi. In September 1980, the first branch outside the state of Tamilnadu was opened at Sultanpet in Bangalore. They also opened the branches at the twin cities Hyderabad and Secunderabad in Andhra Pradesh. In tune with the national image attached to the Bank, the Bank`s name was changed to City Union Bank Ltd with effecfrom December 1987. Taking into account the bank`s financial strength, managerial competence and consistent progress in all spheres of their activities, Reserve Bank of India granted an Authorised Dealers License to deal in Foreign Exchange business with effect from October 1990. During the year 2000-01, the Bank set up an integrated Treasury Department at Chennai to ensure better management of funds. Also, they set up Credit Risk Management Department and Loan Review Department to evaluate and mitigate the risks associated with the operations of the bank. During the year 2001-02, they further strengthened credit rating systems by introducing entry level rating, pricing of loans based on rating of the borrowers. They expanded their network by opening branches at Tambaram, Tiruvanmiyur(Chennai), Tumkur(Karnataka) and Rajamundhry(Andhra). During the year 2002-03, the Bank expanded their network by opening branches at Fort (Mumbai), Thrissur (Kerala), Kakinada and Tenali (Andhra), Palghat (Kerala). Also, they entered into a MoU with Life Insurance Corporation of India and National Insurance Co Ltd for selling insurance products. During the year 2003-04, the Bank opened their new branches at Bhimavaram (Andhra Pradesh), Kovilpatti, Oppanakara Street (Coimbatore), Ashok Nagar (Chennai), Ameerpet (Andhra Pradesh). They obtained licence from Insurance Regulatory Authority of India (IRDA) to act as Corporate Agents in the composite insurance business. Also, they ntered into a franchise agreement for the Money Transfer Service Scheme of Western Union Financial Services Inc, USA with their agents in India AFL Pvt Ltd. During the year 2005-06, the Bank opened their new branches at Udumalpet (Tamil Nadu), Indira Nagar (Bangalore), Cuddapah & Kurnool (Andhra Pradesh), Vashi (Mumbai), Tiruchengodu (Tamil Nadu), Vijayawada II & Guntur II (Andhra Pradesh). Also they installed 23 more ATMs at various branches. The Bank obtained licence to function as Depository Participant under National Securities Depository Ltd. During the year 2006-07, the Bank expanded their network by opening branches at Kannur (Kerala), Hosur (Tamil Nadu), Jayanagar-Bangalore, Mysore (Karnataka), Chrompet, Madipakkam, Thoraipakkam and Trichy Cantonment (Tamil Nadu), Kottayam (Kerala), Malkajgiri, Srikakulam and Machilipatnam(Andhra Pradesh), Kangayam, Rasipuram, Tirukoilur, Dharapuram, Sattur, Krishnagiri and Paramakudi (Tamil Nadu). Also, they installed 25 more ATMs in various branches during the year. During the year 2007-08, the Bank opened new branches at Belgaum, Hubli, Mangalore, Davengere (Karnataka) Prodattur, Warrangal (Andhra Pradesh), Gandhi Nagar, Kumbakonam (Tamil Nadu), Tiruvannamalai (Tamil Nadu), Sivaganga (Tamil Nadu), Nandyal (Andhra Pradesh), Ramanathapuram (Tamil Nadu), Thane (Maharashtra), Ichalkaranji & Nagpur (Maharashtra), Anantapur (Andhra Pradesh), Dharmavaram (Andhra Pradesh), Rajkot (Gujarat), Nashik (Maharashtra) and Devakottai (Tamil Nadu). Also, they installed 24 more ATMs in various branches during the year. During the year 2008-09, the Bank expanded their network by opening branches at KK Nagar (Chennai), Maraimalai Nagar (Tamil Nadu), Chengalpet (Tamil Nadu), Fair Lands (Salem), Ellampillai (Salem), Nadukkadai (Thanjavur) Pallipalayam (Namakkal), R S Puram (Coimbatore), Perambalur (Tamil Nadu), Kolkatta (West Bengal), Ramanagara (Karnataka), Anna Nagar, Madurai (Tamil Nadu), Kelambakkam (Tamil Nadu), Nachiar Koil (Tamil Nadu), Rajaji Nagar (Bangalore - Karnataka), Kollam (Tamil Nadu), Madhurapuri (Tamil Nadu), Sirkazhi (Tamil Nadu), Banashankari (Karnataka), Hindupur (Andhra Pradesh), Thindal (Tamil Nadu), Kukatpally, Hyderabad and Dilsukhnagar, Hyderabad. In 2009, the bank came out with a rights issue of equity shares in the ratio of 1:4 to reward the existing shareholders. In 2012, the bank came out with a rights issue of equity shares in the ratio of 1:4 to reward the existing shareholders and employees under `Employee Reservation Scheme`. In 2014, City Union Bank raised Rs 350 crore in equity capital through QIP route. The Board of Directors of the bank at its meeting held on 29 May 2017 recommended issue of bonus shares in the ratio of 1:10 i.e. one equity share of Re.1 each for every ten fully paid up equity shares held as on the record date, subject to the approval of the shareholders of the bank. On 18 February 2018, City Union Bank informed the stock exchanges of international cyber attack on the bank`s SWIFT payment system. The bank said that during its reconciliation process on 07 February 2018, it was found that three fraudulent transactions were initiated by the cyber criminals gaining access into the bank`s system illegally. The bank immediately alerted the Correspondent banks to recall the funds. With its tight reconciliation systems, the bank could catch the cyber attack in three attempts. The bank said its SWIFT payment system is back to normal after ensuring adequate enhanced security in place. During the FY2018, the Bank`s total deposits increased by Rs 2,737 crore from Rs 30,116 crore to Rs 32,853 crore registering a growth of 9% over previous year. The Gross Advances of the Bank increased by Rs 4,127 crore to Rs 28,239 crore from Rs 24,112 crore, posting a growth of 17%. The yield on advances declined to 11.46% from 12.10% during the financial year due to stiff competition among Banks. During May 2018, the Board of Directors of the Bank recommended the issue of 1 bonus equity share for every 10 equity shares of face value of Re 1/- each (1:10) already held by the shareholders on a record date subject to shareholders` approval by Postal Ballot and subsequently the bank has allotted 6,65,35,268 bonus equity shares. During the FY2018, the Bank had expanded its branch network by adding 50 more branches and 141 ATM`s across the country totalling 600 branches and 1,621 ATM`s as on 31 March 2018. During the FY2019, the Bank`s total deposits increased by Rs 5,595 crore from Rs 32,853 crore to Rs 38,448 crore registering a growth of 17% over previous year. The Gross Advances of the Bank increased by Rs 4,826 crore to Rs 33,065 crore from Rs 28,239 crore, posting a growth of 17%. The yield on advances declined to 10.95% from 11.46% during the reporting year due to stiff competition among Banks. During the FY2019, the Bank has opened 50 additional branches to total 650 branches and has 1,685 ATM`s as on 31 March 2019. The Bank started the marketing and distribution of Health Insurance and Mutual Fund products in tie up with Star Health and Allied Insurance Co. Ltd., for distribution of Health Insurance products, Integrated Enterprises India Ltd., for distribution of Mutual Fund products through online platform, BSE Star Mutual Fund to offer Mutual Fund products through web based platform and branch network and Finwizard Technology Pvt. Ltd. (widely known as FISDOM) to offer Mobile based Mutual Fund Investment solution. During the FY 2020, the Bank has opened 50 additional branches to total 700 branches and has 1,793 ATMs as at 31st March 2020. During the FY 2021, the Bank has opened 2 branches to total 702 branches and has 1,724 ATMs as at 31st March 2021. During the year 2022, the Bank opened 25 additional branches to total 727 branches and has 1,732 ATM`s as at 31st March 2022. During the year 2023, the Bank opened 25 additional branches to total 752 branches and has 1,678 ATM`s as at 31st March 2023. During the reporting year 2022-23, the Bank opened 171 ATMs / BRMs, replaced 127 old ATMs / BRMs with new ones

Registered Address

No 149 T S R (Big) Street, , Kumbakonam, Tamil Nadu, 612001

Tel : 91-435-2402322/2401622/2402412
Email : shares:cityunionbank.com
Website : http://www.cityunionbank.com
Registrar

Karvy Computershare Pvt Ltd

AGM Date (Month) : Aug
Face Value Equity Shares : 1
Market Lot Equity Shares : 1
BSE Code : 532210
NSE Code : CUB
Book Closure Date (Month) :
BSE Group : A
ISIN : INE491A01021

FAQ’s on City Union Bank Ltd Shares

You can buy City Union Bank Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy City Union Bank Ltd Share.

Company share prices and volatile and keep changing according to the market conditions. As of Jun 13, 2024 03:57 PM the closing price of City Union Bank Ltd was Rs.148.27.

The latest PE ratio of City Union Bank Ltd as of Jun 13, 2024 03:57 PM is 10.81

The latest PB ratio of City Union Bank Ltd as of Jun 13, 2024 03:57 PM is 0.77

The 52-week high of City Union Bank Ltd share price is Rs. 167.80 while the 52-week low is Rs. 119.50

According to analyst recommendations, City Union Bank Ltd Share has a "Buy" rating for the long term.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of Jun 13, 2024 03:57 PM, the market cap of City Union Bank Ltd stood at Rs. 10,981.94.

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