City Union Bank Q1 Net Profit seen up 16% YoY to Rs. 201 cr: Arihant Capital

City Union Bank: City Union Bank signs Bancassurance agreement with TATA AIA Life, Shriram General Insurance. The bank has entered into a Bancassurance Agreement with TATA AIA Life Insurance and Shriram General Insurance. Both insurance companies will distribe their products through the branch network of the bank.

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Arihant Capital has come out with its first quarter (April-June’ 22) earnings estimates for the Banking & NBFC sector. The brokerage house expects City Union Bank to report net profit at Rs. 201 crore up 16% year-on-year (down 4% quarter-on-quarter).

Net Interest Income (NII) is expected to increase by 17 percent Y-o-Y (up 4 percent Q-o-Q) to Rs. 522 crore, according to Arihant Capital.

Pre Provision Operating Profit (PPOP) is likely to fall by 3% Y-o-Y (down 15 percent Q-o-Q) to Rs. 373 crore.

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