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Loss in Q4 drags City Union Bank stock down 11%; bad loans, provisions spike

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₹95.25 crore for the fourth quarter ended March due to a spike in bad loan provisions.At 03:00 pm, City Union Bank traded at ₹127.10, down 7.19% from its previous close, while the Sensex rose 1.66% to 34776.72.The private lender had posted a net profit of ₹175.11 crore in the corresponding quarter of financial year 2018-19.The bank's provisions for bad loans and contingencies saw a multi-fold increase to ₹450.38 crore in the March quarter, against ₹90.67 crore in the year-ago period, the bank said in a regulatory filing.On the asset quality front, the lender's gross non-performing assets (NPAs) rose to 4.09% of the gross advances as on 31 March, against 2.95% in the year-ago period.

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