ICICI Direct is bullish on City Union Bank has recommended buy rating on the stock with a target price of Rs 225 in its research report dated January 29, 2019.
ICICI Direct's research report on City Union Bank
NII witnessed a continued pick-up in growth trajectory at 14.5% YoY to Rs 418 crore, in line with our estimate, led by healthy credit offtake Other income was at Rs 120 crore; down 1.5% YoY, lower than our estimate, attributable to a subdued treasury performance. Accordingly, operating profit was muted at Rs 307 crore, up 3.5% YoY Provisions were at Rs 79 crore, down 8.1% YoY & 16% QoQ.
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