Shriram City Union,City Union Bank

Shriram City Union posted a very good set of numbers for Q2FY17. The company reported a healthy 34% (YoY) jump in net profit at Rs.204 crore. Net Interest Income (NIM) was at Rs.735 crore, up 22% (YoY) and up 7 (QoQ).

NPA is continued to be recognized NPA on 150 days past due basis and GNPA is at 4.96% as compared to 5.11% in previous quarter. Coverage is at 72.76%. Net Interest Margin (NIM’s) remains healthy at over 14% as compared to 13.71 % in June 16, Yield on Assets has increased by 27 bps as compared to previous quarter and is at 21.31%. There has been an improvement in Cost to Income ratio – currently at 38.48% as compared to 41.93% during Sept 2015.

Assets Under Management (AUM) during the quarter ended Sept 2016, recorded a 18% (YoY) growth at Rs.21390 Crores. Non gold AUM recorded a 25% growth. Small Business constitutes 56% of AUM v/s 53% (YoY), growing 24%.  For the quarter, AUM grew by 4.5% v/s 3.9%  & non gold portfolio grew by 6.3% v/s 2.5%.

Provisions and write offs were at Rs.139 crore, up 18% (YoY) and up 3% sequentially.