Credit rating agency, Credit Analysis & Research (CARE) has reaffirmed ‘A+’ rating to City Union Bank’s (SBML) Lower Tier II Bonds worth Rs 40 crore.
The rating derives strength from the long-standing operations of City Union Bank (CUBL), its healthy profitability arising out of operational efficiency and robust capitalization levels characterized by high Tier I CAR.
City Union Bank was started at the temple town of Kumbakonam as a part of Swadeshi Movement to support Local Agriculture and Commerce in the year 1904 and entered the 110th year of service to the nation on October 31, 2013. The bank proudly dedicates this milestone to the participants in the Swadeshi Movement, Freedom Fighters and Customers / Stake holders / Employees of the bank -past, present and future.