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The company was a regional Bank and was established in the Year 1904 in a district in Tamil Nadu and was named as Kumbakonam. In 1987 it was renamed as City Union Bank. City Union Bank Ltd is one of the leading scheduled commercial banks in the private sector with major presence in urban semi-urban and rural centers in South India. The company offers products such as Asset Management, Consumer Banking, Corporate Banking, Finance and Insurance, Forex Loans and Services, Investment Banking, Mortgage Loans and various Payment Solutions.
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Incorporated in the year 1904, City Union Bank Ltd is involved in the major segments of Treasury, Retail Banking, Corporate Banking and Other banking operations. Its registered office is Building No 149 T S R (Big) Street, Kumbakonam, Tamil Nadu-612001. The company aims at providing short term and long term loans to the agricultural sector. The reputed bank enjoys a powerful presence in Deccan India with 628 offices, out of which 485 are only in Tamil Nadu. The company is listed on the Bombay and National Stock Exchange list.
MERGERS AND ACQUISITIONS
The bank formerly named Kumbakonam Bank Limited was incorporated in 1904. The history of the inauguration of this bank dates to 1965 when two other local banks, namely The City Forward Bank Ltd and The Union Bank Ltd., merged under a scheme of amalgamation.
City union bank entered into an MoU with Life Insurance Corporation of India and National Insurance Co Ltd dedicated to insurance products.
SERVICES
The company has an expansive range of products which they offer to their clients coming from many different walks of life
The company is well known for providing impeccable Demat and loan services to its loyal and valuable customers.
MILESTONES
1965- the city union bank opened its maiden branch at madras.
In 2018, City Union Bank notified the stock exchanges of the international cyberattack on the bank SWIFT payment system.
The bank claimed to find three fraudulent transactions initiated by cybercriminals trying to obtain access to the bank system illegally. Owing to its strict reconciliation plan, the bank could seize the cyber attack, and bring back its SWIFT payment system.
In the fiscal year 2002, city union bank expanded its network by inaugurating branches in Mumbai, Kerala and Tenali (Andhra). After this year, they left no stone unturned to expand their network with the inauguration of multiple new branches every year.
In 2013, they received a quality certification ISO(27001) to present a structure of standards for how a contemporary organization should maintain and manage its information and data.
AWARDS AND RECOGNITIONS
The company received the Best Mid-sized Bank award conferred by the Business Today Survey in the month of November 2011.
City Union Bank Ltd received the distinguished Sir Vishvesvaraya Industrial Awards & (TNSB) Innovation Awards.
City Union Bank grabbed a trophy for winning the Best Bank Award for Cyber Security and Defense.
Financial Express for the year recognized the efforts of team City Union Bank Ltd and awarded them for the same with the Best Old Private Sector Bank award.
They received the prestigious Industrial Economist Excellence Award in the financial year 2012.
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