City Union Bank has inaugurated one new branch located at Kolenchery Tower, Angamaly, Ernakulam district in state of Kerala on July 14, 2014. Earlier, the bank announced that it is planning to add 75 branches by the end of the current calendar year in order take its network to 500 branches.
Separately, the bank has received strong response to its share sale to raise up to Rs 350 crore. The bank’s share sale has been oversubscribed by nearly 2.5 times. The bank launched a share sale for institutional investors to raise Rs 250-350 crore. Floor price for the share sale had been fixed at Rs 75.05 a share.