BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
City Union Bank Ltd.’s Q2 FY21 improvement in collections to 90% with non-paying customer pool falling to 4% (approximately 12.4% in June 2020), potential restructuring of 4-5%, and providing Rs 1.1 billion for Covid-19 related uncertainties (total buffer at Rs 3.3 billion or 89bs of loans) sums up its asset quality stance.
Core performance improved further during Q2 FY21 with net interest income posting strong 9% QoQ growth driven by 14 basis points QoQ margin expansion despite it reversing interest component of Rs 0.25 billion on current special mention account pool.
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