City Union Bank

By Pradeep Yuvaraj | October 20, 2009

The City Union Bank was established on 31st October, 1904 as a limited company called the Kumbakonam Bank Limited. The first Memorandum of Association was signed by twenty devoted and prominent citizens of Kumbakonam.

The first Branch of the Bank was opened at Mannargudi on 24th January 1930 followed by opening of multiple branches within a span of 25 years. The Bank was included in the  Second Schedule of Reserve Bank of India Act,1934, on 22nd March 1945.

In 1957, the bank took over the assets and liabilities of the Common Wealth Bank Limited. This was followed by the acquisition of, in April, 1965, two other local banks, ‘The City Forward Bank Limited’ and ‘The Union Bank Limited’.

The first branch outside the state of Tamilnadu was opened at Sultanpet, Bangalore in Karnataka in September, 1980 followed by two branches in Andhra Pradesh. In keeping with its national image, the Bank’s name was changed to ‘City Union Bank Limited’ with   effect from December,1987. The bank obtained its Authorised Dealers License to deal in Foreign Exchange business with effect from October, 1990.

As of February, 2009 the Bank has a network of 202 Branches spread in different parts of the Country.

The bank offers car loans under the name CUB Yoha Vahan

All information including news articles and blogs published on this website are strictly for general information purpose only. BankBazaar does not provide any warranty about the authenticity and accuracy of such information. BankBazaar will not be held responsible for any loss and/or damage that arises or is incurred by use of such information. Rates and offers as may be applicable at the time of applying for a product may vary from that mentioned above. Please visit www.bankbazaar.com for the latest rates/offers.
Category: Banks Tags:

About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

Leave a Reply

Your email address will not be published.