City Union Bank stock jumps 12% as Q2 show better-than-expected, Investec sees 33% upside
City Union Bank shares surged 12 percent during the morning deals as the private sector lender's earnings show for the quarter was above expectations on October 22. The bank posted a net profit of Rs 285.2 crore for Q2 FY25, a 1.6 percent rise from โน280.6 crore in the same period last year.
Net interest income climbed 8.2 percent on-year to Rs 582.5 crore, up from Rs 538.4 crore, building on the 4.5 percent growth seen in the first quarter of FY25. The growth in NII was driven by higher lending and steady interest margins. Shares of City Union Bank were quoting Rs 168.78 on the NSE, higher by over 12 percent compared to the previous session's closing price.