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City Union Bank plans to open 75-80 new branches: Report

20 May 2013 Evaluate

Private sector lender, City Union Bank is reportedly planning to open 75-80 new branches and add more automated teller machines (ATM) in the current year. Currently, the bank has 375 branches and 790 ATMs. Meanwhile the bank will continue to maintain the branch-ATM ratio of 1:2.

The bank reported 3.74% rise in its net profit at Rs 80.42 crore for the quarter ended September 30, 2012 as compared to Rs 77.52 crore for the same quarter in the previous year. Total income of the bank has increased by 29.50% at Rs 596.03 crore for quarter under review as compared to Rs 460.24 crore for the quarter ended September 30, 2011.

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