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City Union Bank gets nod to raise capital through QIP route

21 Jul 2017 Evaluate

City Union Bank has received an approval for raising further capital through Qualified Institutional Placement (QIP) route to the tune of Rs 500 crore (including premium). The board of directors at their meeting held on July 21, 2017, has approved for the same.

City Union Bank offers a suite of products across deposits, loans, investment solutions, payments and cards and the Bank also offers services, such as internet banking, mobile banking, including online funds transfer and fixed deposit operations. The Bank operates in four segments, which includes Corporate/Wholesale banking, Retail Banking, Treasury and Other Banking Operations.

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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