Undeniable Profits: How City Union Bank Yielded Immense Returns Of 9216%
If you had ₹1 lakh invested in City Union Bank in December 2002, you could have had ₹1.09 crores today! This multibagger has given its investors ₹92,16,670 in returns and ₹15,83,331 in dividends. Here’s a sneak peek at the company.
🏦 Stock Name: City Union Bank Ltd.
🏦 NSE: $CUB
⭐ About The Company
Founded on 31st October 1904, City Union Bank is one of India’s oldest private sector banks. Formerly known as Kumbakonam Bank, it provides a wide range of financial services:
🏦 Retail banking
🏦 Enterprise banking
🏦 Personal banking
🌍 Pan-India Reach
City Union Bank is one of the leading private sector banks in South India, having established a strong network in urban and rural parts of the region. It has nearly 733 branches in India, 649 of which are located in the country’s south. The rest of the branches are spread across Maharashtra, Gujarat, Madhya Pradesh, Delhi and West Bengal. It has more than 1800 ATMs all over India.
💰 Revenue & Future Plans
In FY22, September quarter, the company made ₹1,181 crores in revenues and earned a profit of ₹276 crores. The bank’s future plans for expansion include a fundraising plan of up to ₹500 crores, through a Qualified Institutional Placement route.
💰 Stock Value
On December 6, 2002, the company’s shares were trading at ₹2.10, while they were priced at ₹195.65 as of December 5, 2022.