Category: City Union Bank

-By Ashwani Mishra, ETCIO.com Lakshmi, the country’s first banking robot is helping City Union Bank transition towards a new self-service era. A few years ago, use of robots may have seemed to be many years away from reality, but it now appears that we are reaching a tipping point in human-robot collaboration. Meet Lakshmi, the two-foot robot that is pushing the Kumbakonam-based City Union Bank (CUB) towards a new self-service era. CUB Lakshmi, as it is fondly called in the bank, speaks English, can gesture and engage in conversations. It can interact on more than 125 subjects with customers, and can answer queries around interest rates on loans, checking the account balance and more….
Read More…

Source: https://cio.economictimes.indiatimes.com/dobig/news/detail/1246

MUMBAI :HDFC Asset Management Co. Ltd, or HDFC AMC, has secured the Reserve Bank of India’s (RBI’s) approval to raise its stake to 9.5% in five private lenders, signalling growing investor interest in private lenders and a potential bullish trend.

India’s third-largest asset manager was granted regulatory approval to raise stakes in Karur Vysya Bank Ltd, DCB Bank Ltd, Equitas Small Finance Bank Ltd, Federal Bank Ltd, and City Union Bank, the lenders said in separate exchange fillings.

…
Read More…

Source: https://www.livemint.com/companies/news/hdfc-amc-gets-rbi-approval-to-raise-stakes-in-five-pvt-banks/amp-11695321884438.html

City Union Bank Limited (“CUB”) in association with NPCI (National Payments Corporation of India) launched the following facilities for its customers.a) Conversational Payments – “Hello UPI” in UPI123 payCity Union Bank had already launched IVR based payment product UPI123 for feature phones through which customers will be making payments through a step by step manual process. As part of next innovation, they have launched “HELLO UPI” Conversational Payment through UPI 123 in Regional Languages. Customers can now make conversational payments through their Smart Phone or Feature Phone in their own language using voice. This will benefit majority ofcustomers who prefer…
Read More…

Source: https://www.newindianexpress.com/amp/story/business/press-releases/2023/Oct/09/city-union-bank-introduces-new-digital-products-2622293.html

Story continues below Advertisement

ICICI Securitie’s research report on City Union Bank
Despite broadly stable 1.5% RoA over the last 7 quarters, CUBK’s stock has underperformed peers due to concerns about subdued loan growth / NIM performance in arguably one of the best NIM cycle in recent times. Over the past couple of quarters, the bank seems to have addressed legacy issues impacting loan growth (better internal control, run-down of KCC gold loan, etc.) and has overhauled its IT systems (new LOS running in-parallel with the support of BCG and…
Read More…

Source: https://www.moneycontrol.com/news/business/earnings/buy-city-union-bank-target-of-rs-170-icici-securities-12699341.html/amp

City Union Bank (NSE:CUB) Third Quarter 2024 ResultsKey Financial Results Revenue: ₹6.63b (up 19% from 3Q 2023). Net income: ₹2.53b (up 16% from 3Q 2023). Profit margin: 38% (down from 39% in 3Q 2023). The decrease in margin was driven by higher expenses. EPS: ₹3.42 (up from ₹2.94 in 3Q 2023). NSEI:CUB Earnings and Revenue Growth February 3rd 2024 All figures shown in the chart above are for the trailing 12 month (TTM) period City Union Bank Earnings Insights Looking ahead, revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Banks industry in India. Performance of the Indian Banks industry. The company’s…
Read More…

Source: https://simplywall.st/stocks/in/banks/nse-cub/city-union-bank-shares/news/city-union-bank-third-quarter-2024-earnings-eps-342-vs-294-i

Despite broadly stable ~1.5% return on asset over the last two years, City Union Bank Ltd.’s stock has underperformed peers due to concerns about subdued loan growth / net interest margin performance in arguably one of the strong NIM cycle in recent times. Over the last couple of quarters, City Union Bank seems to have addressed legacy issues impacting loan growth and has overhauled IT systems. Importantly, the bank has hired lateral talent and intends to chase growth via new products while augmenting non-branch channel. Gearing up for new products and channels through fresh talent is a welcome wind of change, in our view. We believe loan growth should bottom out in FY24E and…
Read More…

Source: https://www.ndtvprofit.com/amp/research-reports/city-union-bank-winds-of-change-growth-bottoming-out-icici-securities

The Reserve Bank has imposed a monetary penalty of ₹66 lakh on City Union Bank Ltd. (CUB) for its ‘failure’ to comply with certain directions on “prudential norms on income recognition, asset classification and provisioning pertaining to advances and divergence in NPA and KYC directions.”On Monday, CUB received a notice from the RBI asking as to why penalty should not be imposed on it for ‘failure’ to comply with the directions. Accordingly, the BSE was intimated on Tuesday.The statutory inspection carried out by the RBI with reference to the financial position of CUB as of March 31, 2022, along with Risk Assessment Report and Inspection Report disclosed the non-compliance…
Read More…

Source: https://www.thehindu.com/business/rbi-imposes-66-lakh-penalty-on-cub-for-non-compliance/article67891540.ece/amp/

City Union Bank Ltd has opened the following Branches on December 28, 2023.- A-10, Ground Floor, Sangini Trade Centre, Kadodara Road, Opposite, Kumbharia, Saroli, Surat-395010, Gujarat- C.S.No.2094, Ashirwad Tower, Ground Floor, Lane No-6, Opposite Reliance Smart Point, Dhule-424001, Maharashtra- D.No.4, Ground Floor, K K Towers, MIG(1) 51 & 52, TNHB Phase – VI, Avalapali, Hosur Taluka – 635109, Krishnagiri District, Tamil Nadu.- Door No.40, VCTV Main Road (Sathy Road), Near to Erode Bus Stand, Veerappanchatiram – 638001, Erode, Tamil Nadu- D.No.39, Dharapuram Main Road, Perichipalayam, Tirupur-641606, Tamil Nadu.Shares of City Union Bank Limited was last trading in BSE…
Read More…

Source: https://www.equitybulls.com/category.php?id=341278