City Union Bank · tone and specificity signals across the available quarters.
Language signals
Both gross NPA and net NPA in both percentage and absolute terms is reducing quarter by quarter for the past 12 quarters continuously. When compared to Q1 FI26, the GNPA has reduced from 2.99% to 1.73%, which is almost 126 bits reduction.
Our operating profit had grown by 29% and stood at 581 crores compared to 451 crores in the corresponding period last year. By the way, this is the highest operating profit achieved by us. We had achieved a PAT growth of 25% and our PAT stood at 383 crores in Q1 FI27 which is again the highest in our bank history.
If you see credit cost at a steady state we should be around 0.4% that's a number we see once it stabilizes we don't envisage to go up much for sure with respect to credit cost.
We don't expect it to go up and hence we don't see much threat to gold loans from the competition at this juncture. We are at 30-31% as we speak today and we expect it to be in the same range of 31-32%.
Our net worth has crossed 10,000 cr mark today which is an important milestone in the history of the bank.
We would end up in high teen growth for FI26 which will be over and above the industry level growth.
I will not be the one of the first banks to give that. But I can directionally say there is still downward bias on that requirement.