{"id":6179,"date":"2020-07-14T22:27:57","date_gmt":"2020-07-14T22:27:57","guid":{"rendered":"https:\/\/bengalnewstimes.com\/?p=6179"},"modified":"2020-07-14T22:27:57","modified_gmt":"2020-07-14T22:27:57","slug":"city-union-bank-gets-board-nod-to-raise-rs-1100-crore-bfsi-news-et-bfsi","status":"publish","type":"post","link":"https:\/\/bengalnewstimes.com\/?p=6179","title":{"rendered":"City Union Bank gets board nod to raise Rs 1100 crore, BFSI News, ET BFSI"},"content":{"rendered":"<p><\/p>\n<div><a href=\"https:\/\/bfsi.economictimes.indiatimes.com\/tag\/city+union+bank\">City Union Bank<\/a> has received board approval to raise Rs 1100 crore. The lender in an exchange filing said Rs 600 crore would be through a Qualified Institutional Placement (<a href=\"https:\/\/bfsi.economictimes.indiatimes.com\/tag\/qip\">QIP<\/a>) and Rs 500 crore would be through <a href=\"https:\/\/bfsi.economictimes.indiatimes.com\/tag\/debt+instruments\">debt instruments<\/a> on a private basis.<\/p>\n<p>The bank said it had previously also obtained approval of the shareholders to raise Rs 500 crore through a QIP, which remained unutilised.<\/p>\n<p>For the debt instruments to be issued on a <a href=\"https:\/\/bfsi.economictimes.indiatimes.com\/tag\/private+placement\">private placement<\/a> basis, City Union Bank said it would consider the issue of \u201cUnsecured <a href=\"https:\/\/bfsi.economictimes.indiatimes.com\/tag\/perpetual+debt\">perpetual debt<\/a> instruments (part of additional Tier I Capital), Non-Convertible Debentures, Basel III compliant Tier I and Tier II bonds or such other debt securities.\u201d<\/p>\n<p>City Union Bank for FY20 declared a profit of Rs 476 crore, whilst however posting a loss of Rs 95.29 crore for Q4FY20. The lender said it had made a provision of Rs 125 crore for the first quarter of FY21, of which Rs 102 crore was on account of COVID-19. City Union Bank has 700 branches across the country, of which 628 are based in South India.The lender said 1.86%, or Rs 645 crore of its total loan portfolio was outstanding as on February 29, 2020.<\/p>\n<\/div>\n<p><script async defer crossorigin=\"anonymous\" src=\"https:\/\/connect.facebook.net\/en_US\/sdk.js#xfbml=1&#038;version=v4.0\"><\/script><script>\n  !function(f,b,e,v,n,t,s)\n  {if(f.fbq)return;n=f.fbq=function(){n.callMethod?\n  n.callMethod.apply(n,arguments):n.queue.push(arguments)};\n  if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0';\n  n.queue=[];t=b.createElement(e);t.async=!0;\n  t.src=v;s=b.getElementsByTagName(e)[0];\n  s.parentNode.insertBefore(t,s)}(window, document,'script',\n  'https:\/\/connect.facebook.net\/en_US\/fbevents.js');\n  fbq('init', '905994023094530');\n  fbq('track', 'PageView');\n<\/script><br \/>\n<br \/><a href=\\\"https:\/\/bfsi.economictimes.indiatimes.com\/news\/banking\/76958872?utm_source=RSS&#038;utm_medium=ETRSS\\\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>City Union Bank has received board approval to raise Rs 1100 crore. The lender in an exchange filing said Rs 600 crore would be through a Qualified Institutional Placement (QIP) and Rs 500 crore would be through debt instruments on a private basis. The bank said it had previously also [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":6180,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[36],"tags":[],"class_list":["post-6179","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking-business"],"jetpack_featured_media_url":"https:\/\/bengalnewstimes.com\/wp-content\/uploads\/2020\/07\/city-union-bank-gets-board-nod-to-raise-rs-1100-crore.jpg","_links":{"self":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts\/6179","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6179"}],"version-history":[{"count":0,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts\/6179\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/media\/6180"}],"wp:attachment":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6179"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6179"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}