Metropolis Union Financial institution Ltd. (CUB) reported standalone web revenue for the June quarter rose 16% year-on-year to ₹264 crore helped by a rise in curiosity earnings, enchancment in asset high quality and decrease provisions.
Curiosity earnings grew by 10% to ₹1,389 crore and web curiosity earnings stood at ₹545 crore (₹523 crore). Internet curiosity margin contracted to three.54%, from 3.67%, the personal sector lender stated.
Gross non-performing property declined to three.88%, from 4.91%. Internet non-performing property slid to 1.87% (2.51%), with the unhealthy loans ratio easing again to pre-COVID ranges.
Complete enterprise grew by 8% to ₹1,01,405 crore, of which deposits accounted for ₹54,857 crore. Present account financial savings account grew by 2% to ₹16,195 crore. Value of deposits elevated to five.72% (5.36%), according to the will increase in coverage charges.
The financial institution had a capital adequacy ratio of 23.58%. The financial institution made a provision of ₹109 crore, towards ₹187 crore. Provision protection ratio stood at 73%, with technical write-off towards 70%.
The board on Friday authorized a plan to boost additional capital of ₹500 crore by means of a QIP.
