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City Union Bank Ltd. Company History and Annual Growth Details

YEAR EVENTS
1904 - The Bank was incorporated at Chennai. The Bank transacts all
kinds of banking business.

1966 - 669 Shares were forfeited of dissenting shareholders of the
Kumbakonam Bank Ltd.

1982 - 6,486 right shares issued at par.

1986 - Equity shares subdivided prior to 1986. 1,00,000 No. of equity
shares of Rs 10 each issued at par as rights in prop. 1:1 during
the year.

1987 - With effect from 9th December, the name of the bank was changed
from The Kumbakonam City Union Bank, Ltd. to City Union Bank,
Ltd.

- 3,00,000 rights equity shares issued at par in prop. 3:2.

1990 - A full fledged international banking division of the bank was
inaugurated at 706, Mount Road, Chennai. This division was to
deal in all types of foreign exchange business undertaken by the
bank.

- 5,00,000 rights equity shares issued at par in prop. 1:1.

1993 - 30,00,000 rights equity shares issued at par.

1995 - The Bank came out with a simultaneous unlinked issue of 90,000
No. of equity shares of Rs 10 each at a premium of Rs 10 per
share and 45,000 unsecured zero interest FCD's of Rs 1000 each
for cash at par.

1997 - 60,000,000 bonus shares issued in prop. 1:2. 66,000,000 No. of
equity shares issued on conversion of FCDs.

2000 - The Bank opened its branches at Purasawalkam, Chennai on December 13
and at Anna Nagar, Chennai on December 14.

2001 - The Bank has opened its branch at Srirangam, Tiruchi district on January 29.

2002

-Introduces various loan schemes like CUB Sulabh CUB Consumer loan, CUB Swayam Griha and CUB Vidhya Vaani.

-Opens a branch at Rajahmundry on March 27, at fort-Mumbai and Thrissur (Kerala).

-Shri S Rajarathnam and Mr Venktatasubban, co-opted as the Director of the company.

-Apoints Mr Jayaraman as the Director on the Board of the company.

2003

-Ties-up with National Insurance for bancassurance.

-Opens two branches at Kakinada,Bhimavaram and Tenali in AndhraPradesh.

-Starts a branch at Kovilpatti, TamilNadu.

-Joins hands with LIC for offering Insurance linked banking products which will add value to depositors and borrowers.

-Shri P Vaidhyanathan is co-opted as the Director on the Board of the company.

-Opens branch at Ashok Nagar, Chennai (Tamilnadu State)

2004

-City Union Bank Ltd has opened a Branch at Kozhikode (Kerala State) on May 21, 2004

-City Union Bank Ltd has informed that they have opened the Branch at Eluru (Andhra Pradesh) on July 5, 2004

-Launches new 'Any Branch Banking' services on 28 october, 2004

2005

-City Union Bank opens Branch at Udumalpet(Tamil Nadu) on April 22, 2005

-City Union Bank Ltd has tied up with Export Credit & Guarantee Corporation Ltd (ECGC) for marketing export credit insurance products through its branch network

-City Union Bank unveils debit cards

2007

- City Union Bank has inked an 'e-remittance' service agreement with Qatar-headquartered Doha Bank QSC. The agreement envisages electronic remittance of funds by NRI clients of CUB (in West Asian countries) to designated beneficiaries accounts in any of the 165 branches of the bank stating that this is first agreement for CUB with a foreign bank.

- City Union Bank Ltd has informed that the Bank has opened the Branch at Nandyal (Andhra Pradesh) on August 03, 2007.

2008

- City Union Bank Ltd has appointe Shri. R G Chandramogan as a Director by the Board at its meeting held on July 30, 2008.

- City Union Bank has rolled out a 1,000-days deposit scheme called 'CUB 1000'.

- The Company has splits its face value from Rs10/- to Rs1/-.

2010

- City Union Bank Ltd has informed that Shri C. R. Muralidharan and Justice. S. R. Singharavelu has been co-opted as directors by the Board at its meeting held on February 25, 2010.<BR><BR>Justice. S. R. Singharavelu is holding 2500 shares as on date.
 
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