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Foreign investment in City Union Bank reaches trigger limit

21 Jul 2014 Evaluate

Reserve Bank of India (RBI) has notified that the aggregate net purchases of equity shares in City Union Bank by Foreign Institutional Investors (FIIs)/ Registered Foreign Portfolios Investors (RFPIs) have reached the trigger limit. Accordingly, further purchases of equity shares of this bank would be allowed only after obtaining prior approval of the RBI.

City Union Bank reported 4.53% rise in its net profit at Rs 89.08 crore for third quarter ended December 31, 2013 as compared to Rs 85.22 crore for the same quarter in the previous year. Total income of the bank increased by 14.39% at Rs 710.90 crore for quarter under review as compared to Rs 621.47 crore for the quarter ended December 31, 2012.

Peers
Company Name CMP
HDFC Bank 703.80
ICICI Bank 1357.00
Axis Bank 1243.90
Kotak Mahindra Bank 440.80
Indusind Bank 876.25
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