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11 February 2013

City Union Bank - Good set of Numbers:: Anand Rathi

City Union Bank came up with decent set of number. Total income increased from Rs. 489 Cr. (Q3,12) to Rs. 621 Cr. ( Q3,13 ) almost 27% growth while Interest expenses has grew from Rs. 316 Cr. to 392 cr. for the same period and increased by 24%. Spread has increased by almost 300 bps.

Growth is not confined to one segment. Business has grown from all three segments.

Treasury Revenue increased from Rs. 105 cr. from Rs. 84 cr. (25% growth YoY) and operating profit grew by 100%

Wholesale Banking Revenue increased from Rs. 186 cr. from Rs. 136 cr. (36% growth YoY) and operating profit is flat.

Retail Banking increased from Rs. 328 cr. from Rs. 267 cr. (22% growth YoY) and operating profit grew by 26%.

Overall Pretax pre provision profit grew by 25%.

NPA is more or less consistent inspite  of turbulent economic environment. Net NPA has slightly  increased from 0.51% (Q3,12) to 0.63% (Q3,13) and 0.60 ( Q2,13 ).

Bank maintain healthy ROA which has increased from 1.62 (Q3,13 ) to 1.65 (Q3,13).

Overall Good set of numbers posted by City union bank.

CUB Rs.61, Stock has been moving in a sharp rising channel and with Rs.58 as Support stock looks very good to target Rs.70 & 75 as Target.

CUB.JPEG


FYI…


Performance of Weekly Option

Co. Name
Accumulated
till 28th Dec, 12
7th Jan, 13
14th Jan, 13
21st Jan,13
28th Jan, 13
Total
Stocks
CMP
Total
Value
Cipla
193
2
2
2
3
202
414
83557
G S F C
1129
14
14
15
15
1187
65
77214
Amara Raja Batt.
311
4
3
3
3
324
301
97540
Pidilite Inds.
347
4
5
5
5
366
246
89999
Dabur India
626
8
8
8
8
658
133
87646
LIC Housing Fin.
271
3
4
4
4
286
283
81010
Indian Bank
372
5
5
5
5
392
203
79498
City Union Bank
1343
17
17
17
16
1410
62
87984
G M D C
390
5
5
5
5
410
194
79397
Bajaj Corp
339
4
4
4
4
355
243
86230
Total Investment
701777
9778
10016
10038
10246



Total Cost of Investment
741855
Value of Investment
850074
Total Return on SIP (%)
15
Product Inception
Date
3rd August, 2011

Return (%)


2nd Feb, 2013
Nifty Level
5405
11
5999
BSE 500
7011

9


7637


Performance of Monthly Option

Co. Name
Accumulated
till 15th Dec, 12
15th Jan, 13
Total
Stocks
CMP
Total
Value
Cipla
45
2
47
414
19442
G S F C
263
15
278
65
18084
Amara Raja Batt.
72
3
75
301
22579
Pidilite Inds.
81
5
86
246
21147
Dabur India
146
8
154
133
20513
LIC Housing Fin.
63
4
67
283
18978
Indian Bank
87
5
92
203
18658
City Union Bank
313
17
330
62
20592
G M D C
91
5
96
194
18590
Bajaj Corp
79
4
83
243
20161
Investment
163361
10128
Total Cost of Investment
173489
Value of Investment
198743
Total Return on SIP (%)
15
Product Inception
Date
3rd August, 2011

Return (%)

2nd Feb, 2013
Nifty Level
5405
11
5999
BSE 500
7011

9

7637



Thanks & Regards


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