City Union Bank Ltd is one of the leading scheduled commercial banks in the private sector with major presence in urban semi-urban and rural centers in South India. The Bank operates in four segments namely Treasury Retail Banking Corporate Banking and Other banking operations. Their products include savings accounts current accounts fixed deposits cash certificates VIP deposit Flexifix deposits CUB Smart deposits and tax saver gold deposit account. The Bank's services include automated teller machine (ATM) services mail transfer demand draft phone transfer standing instructions and nomination facility. The main focus of the bank is lending to MSME Retail/Wholesale Trade with granular asset profile including providing short term and long term loans to agricultural sector. As of March 2018 the bank had a network of 600 branches and 1621 ATMs. The bank has a strong presence in South India with 538 branches of which 415 are in Tamil Nadu alone.City Union Bank Ltd was incorporated as a limited company on October 31 1904 with the name The Kumbakonam Bank Ltd. In January 30 1930 the first Branch of the Bank was opened at Mannargudi in Tamil Nadu. Thereafter branches were opened at Nagapattinam Sannanallur Ayyampet Tirukattupalli Tiruvarur Manapparai Mayuram and Porayawithin oenty five years.In the year 1957 the Bank took over the assets and liabilities of the Common Wealth Bank Ltd and as a result five branches namely Aduthurai Kodavasal Valangaiman Jayankondacholopuram and Ariyalur were added to the Bank. In April 1965 two other local banks namely The City Forward Bank Ltd and The Union Bank Ltd were amalgamated with the Bank under a scheme of amalgamation with the resultant addition of six more branches namely Kumbakonam-Town Nannilam Koradacherry Tiruvidaimarudur Tirupanandal and Kuttalam. Consequently the name of the Bank was changed to The Kumbakonam City Union Bank Ltd.In November 1965 the Bank's first branch at Chennai was opened at Thiyagaraya Nagar. During the year 1968-1973 the Bank opened their branches at Eravancheri Sembanarkoil Tiruchirapalli Madurai Thanjavur Dindigul Keelapalur Tirumakkottai Kottur Tiruvarur Town and Coimbatore. In the next three years they opened the branches at Periyakulam Mandaveli (Cehnnai) Pattukkottai Triplicane (Chennai) Cuddalore Pudukkottai Chidambaram and Salem.During the period 1977-1979 the bank opened ten more branches including those at George Town (Madras) Mount Road (Madras) Tirunelveli and Karaikudi. In September 1980 the first branch outside the state of Tamilnadu was opened at Sultanpet in Bangalore. They also opened the branches at the twin cities Hyderabad and Secunderabad in Andhra Pradesh.In tune with the national image attached to the Bank the Bank's name was changed to City Union Bank Ltd with effecfrom December 1987. Taking into account the bank's financial strength managerial competence and consistent progress in all spheres of their activities Reserve Bank of India granted an Authorised Dealers License to deal in Foreign Exchange business with effect from October 1990.During the year 2000-01 the Bank set up an integrated Treasury Department at Chennai to ensure better management of funds. Also they set up Credit Risk Management Department and Loan Review Department to evaluate and mitigate the risks associated with the operations of the bank. During the year 2001-02 they further strengthened credit rating systems by introducing entry level rating pricing of loans based on rating of the borrowers. They expanded their network by opening branches at Tambaram Tiruvanmiyur(Chennai) Tumkur(Karnataka) and Rajamundhry(Andhra).During the year 2002-03 the Bank expanded their network by opening branches at Fort (Mumbai) Thrissur (Kerala) Kakinada and Tenali (Andhra) Palghat (Kerala). Also they entered into a MoU with Life Insurance Corporation of India and National Insurance Co Ltd for selling insurance products.During the year 2003-04 the Bank opened their new branches at Bhimavaram (Andhra Pradesh) Kovilpatti Oppanakara Street (Coimbatore) Ashok Nagar (Chennai) Ameerpet (Andhra Pradesh). They obtained licence from Insurance Regulatory Authority of India (IRDA) to act as Corporate Agents in the composite insurance business. Also they ntered into a franchise agreement for the Money Transfer Service Scheme of Western Union Financial Services Inc USA with their agents in India AFL Pvt Ltd.During the year 2005-06 the Bank opened their new branches at Udumalpet (Tamil Nadu) Indira Nagar (Bangalore) Cuddapah & Kurnool (Andhra Pradesh) Vashi (Mumbai) Tiruchengodu (Tamil Nadu) Vijayawada II & Guntur II (Andhra Pradesh). Also they installed 23 more ATMs at various branches. The Bank obtained licence to function as Depository Participant under National Securities Depository Ltd. During the year 2006-07 the Bank expanded their network by opening branches at Kannur (Kerala) Hosur (Tamil Nadu) Jayanagar-Bangalore Mysore (Karnataka) Chrompet Madipakkam Thoraipakkam and Trichy Cantonment (Tamil Nadu) Kottayam (Kerala) Malkajgiri Srikakulam and Machilipatnam(Andhra Pradesh) Kangayam Rasipuram Tirukoilur Dharapuram Sattur Krishnagiri and Paramakudi (Tamil Nadu). Also they installed 25 more ATMs in various branches during the year.During the year 2007-08 the Bank opened new branches at Belgaum Hubli Mangalore Davengere (Karnataka) Prodattur Warrangal (Andhra Pradesh) Gandhi Nagar Kumbakonam (Tamil Nadu) Tiruvannamalai (Tamil Nadu) Sivaganga (Tamil Nadu) Nandyal (Andhra Pradesh) Ramanathapuram (Tamil Nadu) Thane (Maharashtra) Ichalkaranji & Nagpur (Maharashtra) Anantapur (Andhra Pradesh) Dharmavaram (Andhra Pradesh) Rajkot (Gujarat) Nashik (Maharashtra) and Devakottai (Tamil Nadu). Also they installed 24 more ATMs in various branches during the year.During the year 2008-09 the Bank expanded their network by opening branches at KK Nagar (Chennai) Maraimalai Nagar (Tamil Nadu) Chengalpet (Tamil Nadu) Fair Lands (Salem) Ellampillai (Salem) Nadukkadai (Thanjavur) Pallipalayam (Namakkal) R S Puram (Coimbatore) Perambalur (Tamil Nadu) Kolkatta (West Bengal) Ramanagara (Karnataka) Anna Nagar Madurai (Tamil Nadu) Kelambakkam (Tamil Nadu) Nachiar Koil (Tamil Nadu) Rajaji Nagar (Bangalore - Karnataka) Kollam (Tamil Nadu) Madhurapuri (Tamil Nadu) Sirkazhi (Tamil Nadu) Banashankari (Karnataka) Hindupur (Andhra Pradesh) Thindal (Tamil Nadu) Kukatpally Hyderabad and Dilsukhnagar Hyderabad.In 2009 the bank came out with a rights issue of equity shares in the ratio of 1:4 to reward the existing shareholders. In 2012 the bank came out with a rights issue of equity shares in the ratio of 1:4 to reward the existing shareholders and employees under Employee Reservation Scheme.In 2014 City Union Bank raised Rs 350 crore in equity capital through QIP route.The Board of Directors of the bank at its meeting held on 29 May 2017 recommended issue of bonus shares in the ratio of 1:10 i.e. one equity share of Re.1 each for every ten fully paid up equity shares held as on the record date subject to the approval of the shareholders of the bank.On 18 February 2018 City Union Bank informed the stock exchanges of international cyber attack on the bank's SWIFT payment system. The bank said that during its reconciliation process on 7 February 2018 it was found that three fraudulent transactions were initiated by the cyber criminals gaining access into the bank's system illegally. The bank immediately alerted the Correspondent banks to recall the funds. With its tight reconciliation systems the bank could catch the cyber attack in three attempts. The bank said its SWIFT payment system is back to normal after ensuring adequate enhanced security in place.