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City Union Bank conducted a conference call on 31 January 2025 to discuss the financial results for the quarter ended December 2024. Dr N Kamakodi, MD & CEO, Vijay Anandh, ED of the bank addressed the call:
Highlights:
With all the new digital initiatives, strengthened top and senior level management, the bank is confident to restore the credit growth on par with industry levels and go beyond.
The loan book of the bank has increased 14.6% to Rs 50409 crore end December 2024 from Rs 44017 crore end December 2023. During the last 1 year, out of the total credit growth of Rs 6,392 crore, 62% of the business came from core advances while rest is from gold loans.
Once the retail vertical and other avenues of advances start supporting, the credit growth should improve
On the asset quality front, the trend of reduced slippages, coupled with improved recovery, is expected to continue for FY2...
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