RBI finds Rs 259-cr divergence in City Union Bank's additional gross NPA for FY22

City Union Bank on Tuesday said Reserve Bank of India found divergence in the lender's additional gross NPA for FY22 amounting to Rs 259 crore.

"Reserve Bank of India has conducted the on-site Inspection for Supervisory Evaluation (ISE) for the FY
2021-22 from October 7, 2022 to November 18, 2022 and the final meeting concluded on December
19, 2022," said the lender in a stock exchange filing.

The divergence to the tune of Rs 259 crore consists of 13 borrower accounts (with outstanding balance over Rs 1 crore ) for an amount of Rs 230 crore and 218 borrowers (with outstanding balance lower than Rs 1 crore) for an amount of Rs 29 crore.

On Tuesday, the lender's scrip closed 2.3% lower at Rs 188.5.