City Union Bank has received approval to raise Rs 500 crore through the Qualified Institutional Placement (QIP) route to fund business growth. Last year, the bank obtained shareholders' nod for raising Rs 500 crore through QIP but could not utilize. The board of directors at a meeting held on June 26, 2023 has approved the same.
City Union Bank offers a suite of products across deposits, loans, investment solutions, payments and cards.