City Union Bank, a private sector lender, announced that the bank has opened new branch in Valajangaram, Ariyalur district. The bank opened the branch on Sept. 18, 2014.
City Union Bank reported a rise of 10.2% in its net profit for the first quarter ended Jun. 30, 2014. The bank earned a profit of Rs 994.9 million for the first quarter ended Jun. 30, 2014.
Foreign Institutional Investors (FIIs) have raised shareholding in City Union Bank. FIIs shareholding increased 120 basis points to 33.43% as on Jul. 25, 2014 from 32.23% at the end of June 2014. On the other hand, domestic institutional investors' (DIIs) shareholding also went up to 10.17% as on Jul. 25, 2014 from 9.79% at the end of June 2014.
