City Union Bank Ltd (CUB) has announced a rights issue at one new share for every four equity shares held in the company at Rs 20 a share. The price includes a premium of Rs 19 a share.
The record date for the rights issue has been fixed as November 23.
According to a press release from the company, “for the first time in the industry”, the bank has reserved a portion of the issue for its employees.
3% rise in profit
The bank has posted a 3.8 per cent growth in net profit at Rs 80.42 crore for the quarter ended September 30, 2012, against Rs 77.5 crore in the comparable quarter in the previous year.
Total income was at Rs 596 crore (Rs 460.24 crore).
Gross NPA (non-performing assets) stands at 1.24 per cent and net NPA at 0.60 per cent. Current capital adequacy ratio is at 13.26. Book value a share stands at Rs 34.14.
The bank’s shares closed the week on Friday at Rs 59.70 from the previous day’s close of Rs 58.75 on the BSE.
>ravikumar.ramanujam@thehindu.co.in
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.