News

City Union Bank board approves ₹500 crore fundraising via QIPCity Union Bank Ltd. board approves raising ₹500 crore via QIP, with final approval at AGM on August 13. Dividend of ₹2 per share confirmed.By Megha Rani   June 12, 2025, 12:05:33 AM IST (Published)1 Min ReadPrivate sector lender City Union Bank Ltd's board on Wednesday (June 11) said it has approved raising ₹500 crore through the qualified institutional placement (QIP) route, with final approval set for the annual general meeting on August 13.

Additionally, the board confirmed a dividend of ₹2 per share for FY 2024-25 (Apr-Mar), which was previously announced alongside the March quarter financial results on May 2.

Also Read:  Brightcom group former officials director pay ₹35.4 lakh to settle case with SEBI

Net interest income (NII), which is the difference between the interest income a bank earns from its lending activities and the interest it pays to depositors, was up 9.8%, coming at ₹600.3 crore against ₹546.5 crore in the corresponding quarter of FY24.

The gross non-performing asset (GNPA) stood at 3.09% in the fourth quarter against 3.36% in the third quarter. Net NPA (NNPA) reduced to 1.25% against 1.42% quarter-on-quarter (QoQ). Provisions stood at ₹78 crore against ₹75 crore QoQ and ₹32 crore YoY.

City Union Bank shares closed 3.04% lower on Wednesday at ₹200.00 on the National Stock Exchange.Continue ReadingCheck out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!TagsCity Union BankdividendQIP