Shares of City Union Bank fell 13.5% to Rs 138.4 in intraday trade on the BSE on Monday, as the bank’s profitability suffered consecutive hits in the December quarter. Private sector lender, City Union Bank, posted a net profit of Rs 217.83 crore in Q3FY23 on Saturday, down 21.2% QoQ from Rs 276.5 crore in Q2FY23.

Its net interest income (NII) also fell 2% sequentially to Rs 555.7 crore from Rs 567.9 crore. Net interest margin (NIM) also contracted by 21 basis points to 3.9%.

That said, on an annualised basis, net income was up 11%, NII was up 13.4%, and operating profit was up 34.6%. However, NIM fell 12 basis points.