2017-08-30 :City Union Bank eyes strong growth in MSME loans
City Union Bank is eyeing a strong loan growth in its micro, small and medium enterprises (MSME) segment in FY18. As per the bank’s available data, the bank has reported a 15 per cent increase and stands at Rs. 8,220 crore. Meanwhile the bank has further plans to achieve strong growth in its gold loan segment.
2017-08-16 :City Union Bank launches facility of instant credit card
City Union Bank has recently introduced the option of instant credit card for free for its net banking customers. The card will be available only to those having a fixed deposit account with the bank and will be used against performing instant transactions as well as shopping online.
2017-08-10 :City Union Bank reports growth in net profit at Rs. 140 crore
City Union Bank has reported a significant growth in its net profit at Rs. 140 crore during the first quarter of FY18 as against Rs. 124 crore during the corresponding quarter of the previous fiscal year. The improvement in profit is due to 26 per cent growth in its operating profit.
2016-11-21 :City Union Bank net profit increases by 15 percent
City Union Bank reported an increase of 15 percent in its net profit at Rs. 123 crores in July to September quarter as compared to Rs. 107 crores during same period last year. Net interest income during the period rose to Rs. 301 crores from Rs. 240 crores in same period of last year.
2016-09-01 :City Union Bank has reduced its MCLR from 1st September, 2016
City Union Bank has reduced its Marginal Cost Based Lending Rate (MCLR) across maturities, effective from 1st September, 2016. The 3month, 6 month and 1 year MCLR has been reduced by 25 basis points to 9.6, 9.65 and 9.75 percent respectively. Similarly, the overnight and 1 month MCLR has been reduced 20 basis points to 9.5 and 9.55 percent respectively. For borrowers who have taken a home loan from City Union Bank after 1st April 2016, the reduction in MCLR will translate into a reduction in their home loan rates and hence their interest outgo. However, if you have taken home loan at fixed interest rate then your interest expense will remain unchanged.
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