Journey of City Union Bank Limited

Incorporated in 1904 as The Kumbakonam Bank Limited, City Union Bank (CUB) Limited is one of the popular scheduled commercial banks in the private sector in south India. The bank was established as a regional bank in the Delta District Thanjavur. In January 1930, they opened their first branch in Mannargudi. By 1955, they had several branches in regions Nagapattinam, Ayyampet, Sannanallur, Thirukattupalli, Manapparai, Tiruvarur, Porayar and Mayuram. In April 1965, two other local banks, 'The City Forward Bank Limited' and 'The Union Bank Limited', were amalgamated, forming The Kumbakonam City Union Bank Limited. This amalgamation resulted in the addition of 6 more branches. In the same year, they opened their first branch in Madras. From 1968 to 1973, the bank opened more than 10 branches in Tamil Nadu. In 1980, they opened their first branch outside Tamil Nadu in Bangalore, followed by another branch in Andhra Pradesh. In 1987, the bank’s name was changed to City Union Bank Limited. The bank started growing and set up Automated Teller Machines ( ATMs), and later got a licence to function as a Depository Participant under National Securities Depository Limited. In 1998, the bank released its IPO and got listed on the stock exchange. As of March 2023, the bank has 752 branches and 1,678 ATMs across 19 states in India.

Business Segments of City Union Bank Limited

There are several business segments of the bank, as follows:

• Personal:Under this, the bank delivers personal banking services, such as loans, accounts, debit cards, credit cards, insurance, deposits, etc.
• Gold Loans:Under this, the bank offers gold loans, such as personal gold loan and agriculture gold loan. They also provide gold-based overdraft facilities.
• MSME:Under this segment, the bank delivers banking services for Micro, Small & Medium Enterprises (MSME). They provide loans, accounts, deposits, international business services and more.
• Corporate:Under this, the bank delivers corporate banking services, such as loans, accounts, debit cards, credit cards, insurance, deposits, etc.
• Agri and Rural:For agricultural and rural customers, the bank delivers banking services, such as loans, accounts, deposits, etc., under this segment.
• NRI:This segment is for NRIs who want to avail banking facilities, such as accounts, loans, insurance, deposits, etc.
• Tech Banking:Under this, the bank delivers online banking services, demat account, CUB wallet, and much more.

As of March 31, 2023, there are no subsidiaries of City Union Bank Limited.

Key Personalities of City Union Bank Limited

Dr. N. Kamakodi, Managing Director and Chief Executive Officer (CEO) Dr. N. Kamakodi has been the CEO and Managing Director of City Union Bank Limited since May 2011. He comes with about 20 years of experience. He joined the bank in 2003 as Deputy General Manager (DGM) and later was promoted to General Manager in 2005 and Executive Director in 2006.

Corporate Actions of City Union Bank Limited

• Bonus share of a 1:10 ratio with a record date of August 16, 2017.
• Bonus share of a 1:10 ratio with a record date of July 11, 2018.