City Union Bank Q4 net up 33% to Rs 34 cr

Private sector lender City Union Bank today reported a growth of 33.32 per cent in net profit to Rs 34.81 crore for the fourth quarter ended March 31, 2010, over the same period last year. Total income rose to Rs 282.31 crore for the January-March quarter of the 2010 financial year from Rs 255.59 crore in the same period of the previous fiscal, City Union Bank said in a filing to the Bombay Stock Exchange. The board of directors has proposed a dividend of 75 per cent, or Rs 0.75, per share of face value of Rs 1 each for the year 2009-10. For the year ended March 31, 2010, the company posted a net profit of Rs 152.76 crore, up 25 per cent from the previous fiscal. Shares of City Union Bank Ltd were being traded at Rs 32.40 on the BSE, up 1.73 per cent from the previous close.