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Transcript of Investor Presentation – August 2010. Disclaimer No representation or warranty, express or implied...
Investor Presentation – August 2010
Disclaimer
No representation or warranty, express or implied is made as to, and no reliance should be placed on the fairness, accuracy, completeness or correctness of such information or opinions contained herein. The information contained in this presentation is only current as of its date. Certain statements made in this presentation may not be based on historical information or facts and may be “forward looking statements”, including those relating to the bank’s general business plan’s and strategy, its future financial condition and growth prospects and future developments in the industry and regulatory environment. Actual results may differ materially from these forward-looking statements due to a number of factors, including future changes or developments in the bank’s business, its competitive environment and political, economic, legal and social conditions in India. This communication is for general information purpose only, without regard to specific objectives, financial situations and needs of any particular person. This presentation does not constitute an offer or invitation to purchase or subscribe for any shares in the bank and neither any part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. The bank may alter, modify or otherwise change in any manner the content of this presentation, without obligation to notify any person of such revisions or changes. This presentation should not be copied and/or disseminated in any manner.
Table of contents
1. City Union Bank – Overview & Growth Story 4-11
2. Ownership Pattern 12-14
3. Management 15-18
4. Financial Performance 19-32
5. Strategy 36-37
6. Recognitions 38-40
4
1. City Union Bank – Overview & Growth Story
5
Showcasing steady performance on an ongoing basis …
RoA and RoE at 1.5% and 20.5% respectively, which is considered healthy in the banking space
Rated as No.1 by Chartered Financial Analyst Magazine
Steady growth – Business growing at a CAGR of 27% and Net Profit at a CAGR of 30% in last five years
Significant improvement in asset quality over the years. Net NPA – 0.58% and Provision Coverage Ratio > 70%
Future plans for expansion of branch network to 500 Branches in next 3 years
Rapid progress on the technology front with 100% business under CBS and State of the Art Technology platform
CUB is well positioned to capitalize on the huge growth opportunities in the banking sector
Well capitalized; CAR – Basel II – 13.46% as on March 31, 2010
Long and consistent track record of profitability – Profit and dividend payout in all 100 + years of operations
Best Corporate Practices; All Independent & Professional directors; Continuity in Management – only 6 CEOs so for
6
Key milestones
Take over of Common Wealth Bank Limited
1957
Preferential allotment for equity shares strengthening bank’s capital adequacy ratio
2007
1904
Incorporation of the Bank
1965
Amalgamation of ‘The City Forward Bank Limited’ and ‘The Union Bank Limited’ with our Bank
1998
Initial Public Offering (IPO); Listing Bank’s shares on the BSE, NSE & MSE
Entered into agreement with TCSfor core banking solution “Quartz”
2002
2003
Obtained licenses to act as a agent for procuring life insurance & general insurance business
Rights issue for equity shares @ 1 : 4 – to reward the existing shareholders
2009
1945
Scheduled bank since 22.03.1945
7
Strong presence in the South
A network of 222 branches of which 193 branches are located in South India and 139 in Tamil Nadu alone
StateNo of
BranchesStatewise % of Branches
% of our Business
Tamil Nadu 139 63 73
Andhra Pradesh 29 13 9
Karnataka 15 7 6
Maharashtra 12 5 6
Kerala 10 5 2
Gujarat 6 3 1
Others 11 5 3
Total 222 100 100
State wise branches
8
Branch Expansion
We have received License from Reserve Bank of India to open 62 more branches in various states within a Year. Out of which 40 branches are in Tier I and Tier II centres and 22 More
branches planned to open under Tier III to VI centres.
StateTier I & II centres
Tier III to VI centres
Tamil Nadu 20 22
Andhra Pradesh 5
Karnataka 5
Maharashtra 4
Chattishgarh 1
New Delhi 2
Orissa 1
Punjab 1
Uttar Pradesh 1
Total 40 22
State wise Branch Expansion planned
9
Providing a wide array of services (1/2)
Implementation of core banking at all the branches enabling customers to operate their accounts from any
of the branches
168 own inter connected ATMs nationwide as on August 15, 2010; Access to ATMs through Cashtree, NFS,
VISA tie-ups
VISA debit card access worldwide
RTGS and NEFT available at all branches
Internet and mobile banking facility
SMS alert facility
Utility bill payments – Telephone, electricity, credit card payments etc
E-Tax payment facility
E- payment of college term fees, mess fee & examination fees for university students
Demat services in tie-up with NSDL
Services & facilities – Domestic banking
10
Providing a wide array of services (2/2)
Forex services to the importers & exporters
Trade credit facility to importers
Handling overseas direct investments and foreign direct investments
International banking operations / cross border banking through correspondent banking relationships with
HSBC Bank, Wachovia Bank, Standard Chartered Bank, Commerce Bank & others
Forex dealing services through forward contracts, etc.
Tie up with Doha Bank for arrangement of money transfer
Drawing arrangement from Singapore with Bank of India
Money 2 India Service – Tie up with ICICI Bank for fund transfer
Arrangement with UAE Exchange and Majan exchange for money transfer
Services & facilities - International banking
11
Offering the best of both worlds and more
Focused approach towards SME’s
Plans to open branches in Tier II and Tier III cities
Experienced management team
Flexibility to enter adjacent markets and
businesses
Diversified product portfolio
High operating expenses
High % of fee income
Operating efficiencies
Large branch network
Strong customer base
Strong growth
Asset quality
High ROA
Technology savvy
Old private sector banks New private sector banks
Perception of Poor asset quality
High proportion of retail deposits – low
CASA
Relative size of asset base
High cost of funds
12
2. Ownership Pattern
13
A well diversified investor base
Ownership profile as on 30th June 2010
Shareholders % holding
L & T Capital Holdings 4.79
LIC of India 4.68
Nederlandse Financierings 4.68
Ares Investments 3.90
Integrated Enterprises (I) Ltd. 3.90
Argonaut Ventures 3.66
Acacia Partners Lp. 3.04
Alpha Systems Pvt Ltd 2.59
GMO Emerging Illiquid Fund 1.75
Karur Vysya Bank 1.51
Major shareholders as on 30th June 2010
Well diversified ownership
Long term investors adding credibility and support to management
Cash management services offered to LIC to improve CASA and customer base
Bank Assurance partner to LIC and ranked No.1 in South India consecutively for three years
14
Rights Issue – FY 2009-10
The total proceeds through rights issue was around Rs.480 mn.
During the year 2009-10, we have issued 80 mn equity shares with a face value of Re.1/- each (“Rights
Equity shares”) for cash at a price of Rs.6/- including a premium of Rs.5/- aggregating to Rs.48 crores
to the existing equity shareholders of our Bank on rights basis in the ratio of 1 Rights Equity share
for every 4 Equity shares held.
Capital increases from Rs.320 mn to Rs.400 mn.
15
3. Management
16
Transparent ‘Corporate Governance’ practices
All directors are Independent and Professional directors
Code of conduct for directors and senior management has been put in place
Disclosure norms are strictly adhered to
Various sub-committees of Board have been formed to oversee the operations of the Bank
17
A well experienced and strong Board (1/2)
Name Profile
Mr. P.Vaidyanathan, Chairman
He is a graduate in Commerce, a Fellow Member of the Institute of Chartered Accountants of India, Associate Member of the Institute of Cost & Works Accountants of India and Associate Member of the Institute of Company Secretaries of India. He has more than 35 years of experience in financial services industry
Mr. S. Balasubramanian, MD & CEO
He holds a Master degree in Mathematics, CAIIB and PGDFM and has 38 years of experience in the banking industry. He had joined City Union Bank in 1971 as a probationary officer and has since then been associated with the Bank in various capacities. In 2005 he was appointed as the Chairman & CEO of our Bank and thereafter, in 2009 the Reserve Bank of India has accorded approval for his appointment as the Managing Director and CEO of our Bank with effect from January 31, 2009
Mr. V.Jayaraman, Director
A Post Graduate in Statistics and an agriculturist he has been on the board since 2002. He joined the Indian Revenue Service in July 1963 and held various posts in the Income Tax Department. He was on deputation to the Ministry of Home Affairs, New Delhi. He was the Chairman of Banking Service Recruitment Board, Southern Region as well as an Insurance Ombudsman, Southern Region
Mr. K.S. Raman, Director
He is a post graduate in Statistics. He is an agriculturist and has been on the board during 1984 to 1992 and 1994 to 2002 and presently from 2004 onwards. He has worked with Statistics Department, Annamalai University, Automobile Products of India Limited and in Larsen & Toubro Ltd
We have eminent personalities on our Board;
1 Former Chairman of a PSU Bank
3 Chartered Accountants
2 Agriculturists
1 Industrialist
1 Advocate
1 Chief Comm. Of Income Tax (Retd.)
1 Retd. High Court Judge
1 Banking professional
Profile of Board of Directors
18
A well experienced and strong Board (2/2)
Name Profile
Mr. S. Bernard, Director
He is a graduate in Commerce and a Fellow Member of the Institute of Chartered Accountants of India. He is a practicing Chartered Accountant of 31 years standing with expertise in the field of Accountancy and Taxation
Mr. N Kantha Kumar, Director
He is a graduate in Commerce and Law. He has been in the Banking Industry for around 38 years. He has held key positions such as Executive Director in Canara Bank and Chairman & Managing Director in Syndicate Bank
Mr. N.Sankaran,Director
He is a Bachelor of Engineering (Civil) and is a Member of Institute of Engineers, India and has been on the board since 2008. He is a retired General Manager from M/s. Voltas International, Chennai
Mr. M Naganathan, Director
He is a graduate in Commerce and a Fellow Member of Institute of Chartered Accountants of India. He has been on the board since 2008 and is a senior partner in M/s. Price Patt & Co., Chartered Accountants, Chennai.
Mr. R.G. Chandramogan, Director
He is the Chairman & Managing Director of Hatsun Agro Product Limited. He has been in the dairy processing and Ice cream business for around 30 years. He visits the Indian Institute of Management, Ahmedabad as a guest faculty.
Mr. T.K. Ramkumar, Director
He is a graduate in Commerce and an advocate. He is a partner in M/s. Ram & Rajan & Associates, and possesses knowledge and experience in banking law, company law, intellectual property rights, civil laws etc
Justice (Retd.)S.R. Singaravelu,Director
He is a former Judge of High Court of Madras and High Court of Orissa. He has vast experience of 36 years in the Judiciary. He was in Judiciary Department and held various position.
Mr. C.R. Muralidharan,Director
He retired as a whole time member of the Insurance Regulatory and Development Authority (IRDA) in November 2009. Prior to this appointment he was a Chief General Manager in Reserve Bank of India. He has extensive experience in regulation of Banks in Reserve Bank of India and Insurance Companies in IRDA.
Profile of Board of Directors
19
4. Financial Performance
20
ParticularsFY 2009-10(in INR mn)
FY 2008-09( in INR mn)
AbsoluteGrowth % Growth Direction
Deposits 102,845.9 82,066.2 20,779.7 25.3%
Advances 68,967.1 56,862.2 12,104.9 21.3%
Total Business 171,812.9 138,928.4 32,884.5 23.6%
Gross NPA – Qtm 935.0 1020.8 -85.8
Net NPA – Qtm 396.7 611.1 -214.4
Gross NPA 1.36% 1.80%
Net NPA 0.58% 1.08%
FY10 performance – A snapshot
Total Business of the Bank increased by 24% during the FY 2009-10.
Deposits increased by 25% over previous year and Advances increased by 21%.
Gross NPA brought down to 1.36%
Net NPA reduced to 0.58%
Key highlights
FY 10 performance
21
ParticularsFY 2009-10( in INR mn)
FY 2008-09( in INR mn)
AbsoluteGrowth % Growth Direction
Total Business 171,812.9 138,928.4 32,884.5 23.7%
Net Interest Income 2,781.4 2,425.7 355.7 14.7%
Other Income 1,435.0 1,236.8 198.2 16.0%
Operating Exp 1,658.5 1,395.3 263.2 18.9%
Operating Profit 2,557.9 2,267.2 290.7 12.8%
Net Profit 1,527.6 1,221.3 306.3 25.1%
CRAR – Basel II 13.46% 12.69% - -
Core CRAR – Tier I 12.41% 11.48% - -
Provision Coverage Ratio 70.27% 53.23% - -
FY10 performance – A snapshot
FY 10 performance
Total business of the Bank grew by ~24% in FY10
Net interest income increased by 15% and PAT increased by 25%
Net Profit increased by 25% from Rs.1221.3 Mn to Rs.1527.6 Mn
Provision Coverage Ratio achieved well in advance.
High CRAR offers scope for more leverage
High Tier I Capital offers huge scope for increasing Tier II Bonds
Key highlights
22
Particulars FY 2009-10 FY 2008-09 Direction
Cost of Deposits 7.73% 7.98%
Yield on Advances 13.04% 13.46%
Return on Investments 7.84% 8.58%
Net Interest Margin 3.15% 3.49%
Cost to Income 39.33% 38.10%
Operating Exp - as a % of NII 59.63% 57.52%
Return on Assets (ROA) 1.52% 1.50%
Return on Net worth (RONW) 20.55% 18.48%
Per Employee Business ( in INR mn) 65.10 56.51
Per Employee Profit (in INR mn) 0.58 0.50
EPS (in INR.) – FV INR1/- Share 4.03 3.23
Key business indicators
Key indicators
Healthy RONW at 20.5% in FY10 up from 18.5% in FY09
Cost of Deposits decreased from 7.98% in FY09 to 7.73% in FY10
ROA increased marginally from 1.50% in FY09 to 1.52% in FY10
Key highlights
23
ParticularsQ1 FY 11
( in INR mn)Q1 FY 10
( in INR mn)AbsoluteGrowth % Growth Direction
Deposits 106,096.5 83,767.2 22,329.3 26.6%
Advances 72,096.6 55,366.5 16,730.1 30.2%
Total Business 178,193.1 139,133.7 39,059.4 28.1%
CASA 21,672.4 15,234.0 6,438.4 42.3%
Gross NPA 934.4 1087.2 -152.8
Net NPA 389.2 798.5 -409.3
Gross NPA (%) 1.30% 1.96%
Net NPA (%) 0.54% 1.45%
Return on Assets 1.52% 1.32%
Net Interest Margin 3.56% 2.79%
Q1 FY11 performance – A snapshot
Financial Performance – Q1 FY 11 Vs Q1 FY 10
Total Business increased by 28.1% from Rs.139133.7 Mn to Rs.178193.1 Mn
CASA position grew by 42.3% to Rs.21672.4 Mn from Rs.15234.0 Mn
Net NPA brought down to 0.54% from 1.45% last year
ROA increased to 1.52% from 1.32%
Key highlights
24
ParticularsQ1 FY 11
( in INR mn)Q1 FY 10
( in INR mn)AbsoluteGrowth % Growth Direction
Net Interest Income 921.7 562.7 359.0 63.8%
Other Income 321.2 259.4 61.8 23.8%
Operating Exp 456.9 349.6 107.3 30.7%
Operating Profit 786.1 472.5 313.6 66.4%
Net Profit 443.7 315.4 128.3 40.7%
Q1 FY11 performance – A snapshot
Financial Performance – Q1 FY 11 Vs Q1 FY 10
Q1 FY 2011 Net interest income increased by 64% over previous Q1 FY 2010
Operating Profit increased by 66% (YoY)
Net Profit increased by 41% (YoY) from Rs.315.4 mn to Rs.443.7 mn
Key highlights
25
CUB has reported strong growth in deposits and advances in the last few years
2025
33
45
56
68
0
15
30
45
60
75
Mar-05 Mar-06 Mar-07 Mar-08 Mar-09 Mar-10
Advances (INR bn)
31 35
47
64
82
103
0
20
40
60
80
100
Mar-05 Mar-06 Mar-07 Mar-08 Mar-09 Mar-10
Deposits (INR bn)
Strong deposit and advances growth
Steady increase in advancesSteady increase in deposits
Advances has been growing steady at a CAGR
of 27% in the last 5 years; Credit Deposit ratio
is sound at 67%
Deposits is retail oriented. Stable and growing
at a CAGR of 30%
CASA grew by 44.94% in FY 2010 at a CAGR
of 27%.
CAGR – 30%CAGR – 27%
78
1113
16
22
0
5
10
15
20
25
Mar-05 Mar-06 Mar-07 Mar-08 Mar-09 Mar-10
CASA (INR bn)Steady increase in CASA
CAGR – 27%
26
564718
1,017
1,221
1,528
0
300
600
900
1,200
1,500
Mar-06 Mar-07 Mar-08 Mar-09 Mar-10
PAT (INR mn)
Strong growth in income and profitability
Steady increase in net interest income Robust PAT growth
Strong growth in other income
CAGR: 19%CAGR: 27%
CAGR: 34% CAGR: 26%
CEB & Charges Income over 5 years
27
10.60
9.86
8.96 8.74
7.89
6.96
6.085.75 5.95
7.23
7.98 7.73
15.4015.06
13.75
12.58
11.7211.36
11.00 10.8511.32
12.82
13.4613.04
4.0
6.0
8.0
10.0
12.0
14.0
16.0
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
CoD YoA
Cost of deposits and yield on advances in last 10 years
Cost of deposits & yield on advances
Spread between cost of deposits and yield on advances of our bank maintained in the last 10 years
28
Particulars (Rs in Mn) Q1 FY 11 Q1 FY 10% of
Change
SLR 27,634.5 23,774.1 16.2%
Non SLR 6,510.6 4,334.5 50.2%
Total Investments 34,145.1 28,108.6 21.5%
Total Return on Investments 7.1% 7.2%
Investments Breakup:
- A F S 3,042.0 7,502.5 -40.6%
- H T M 31,003.5 20,606.1 50.46%
- H F T 99.6 0.0
Total Investments 34,145.1 28,108.6 21.9%
M D – AFS 2.31 1.76
M D – HTM 5.88 6.39
M D – HFT 6.03 -
M D – Overall 5.48 4.98
Investments – At a Glance
Investments Breakup and Category wise
In total Non-SLR securities of Rs.6510.6 Mns, investment in NABARD RIDF constitutes Rs.5782.6 Mns.
Modified Duration for entire investment portfolio is 5.48 only.
29
Loans CompositionAmount
(in INR mn)% to Total Advances
Construction (Comm Real Estate) 2,501 3%
Textiles 8,346 12%
Food Processing 1,368 2%
Iron & Steel 3,183 4%
Paper & Paper products 1,550 2%
Other Metal & Metal Products 1,147 2%
Other Industries 2,255 3% Textiles, 12%
I ron & Steel,
4%
Food P rocessing,
2%
Construction,
3%
Paper & Paper
P roducts, 2%Other
I ndustries, 3%
Other Metals,
2%
Advances to Major Industries as on 30th June 2010
Loan book – Major Industry wise exposure
30
Loan book – Major Sector wise Exposure & Regulatory Classification
ClassificationAmount
( in INR mn)% to Total
Adv
Corporates 24,876.8 34%
Regulatory Retail 30,707.8 43%
NBFC 1,902.9 3%
Other Advances 14,609.0 20%
Gross Loans Total 72,096.5
Regulatory Classification of Advances as on 30th June, 2010
Major SectorAmount
( in INR mn)% to Total
Adv
M S M E 23,918.4 33%
Agriculture 7,588.3 11%
Large Industries 3,950.8 5%
Retail Traders 6,930.7 10%
Wholesale Traders 8,138.6 11%
Major Sector wise Advances as on 30th June, 2010
SME and retail trade loans earning higher
yields.
Diversified credit portfolio reduces credit risk
Lower ticket size backed by adequate
collaterals
Unsecured Advances around 3% only
31
Loan book products composition
Loan Products CombinationAmount
( in INR mn)% to Total
Adv
Demand loans 17,046.4 23%
Term loans 25,701.8 36%
Overdraft / Cash credit 28,066.7 39%
Bills Purchased / Discounted 1,281.7 2%
Gross Loans Total 72,096.6
Demand
loans
24%
Over dr af t/
Cash cr edit
38%
Bi l ls
pur chased/
discounted
2%
T er m loans
36%
Working capital loans yielding higher
interest constitute 60% of advances
Re-pricing possible at short intervals thus
reducing interest rate risk
~80% of our loan book is on floating rate
basis which reduces interest rate risk
Loan Products composition as June 30, 2010
32
Asset quality is showing continuous improvement
Asset quality has shown continuous improvement over the years; Gross NPA has come down from 5.9% in
March’ 05 to 1.4% in March’ 10
Net NPA levels has come down from 3.4% in March’ 05 to 0.6% in March ’10
NPA levels has come down despite the fact that we continue to focus on SME’s and retail trade loans.
We have a well defined and robust credit appraisal policy and risk management system
Gross NPA & Net NPA - Quantum Gross NPA & Net NPA - %
130.69112.83
87.07 82.93102.08
93.50
67.7949.80
36.2544.46
61.11
39.67
0
50
100
150
Gross NPA Net NPA
Gross NPA 130.69 112.83 87.07 82.93 102.08 93.50
Net NPA 67.79 49.80 36.25 44.46 61.11 39.67
2005 2006 2007 2008 2009 2010
5.89%
4.32%
2.58%1.81% 1.80% 1.36%
3.37%
1.95%1.09% 0.98% 1.08%
0.58%0.00%
2.00%
4.00%
6.00%
8.00%
Gross NPA % Net NPA %
Gross NPA % 5.89% 4.32% 2.58% 1.81% 1.80% 1.36%
Net NPA % 3.37% 1.95% 1.09% 0.98% 1.08% 0.58%
2005 2006 2007 2008 2009 2010
NPA – AN ANALYSIS – LAST 5 YEARS
33
Restructured Accounts
No .of BorrowersAmount
( in INR mn)
Restructured in I Phase – FY 2008-09 213 3,187.9
Restructured in II Phase – FY 2009-10 51 1,655.6
Total 264 4,843.5
Out of the above,
Accounts closed till 31.03.2010 89.0
Accounts turned as NPA 181.3
Amounts repaid till 31.03.2010 885.6
Balance outstanding as at 31.03.2010 3,687.6
Details of Restructured Accounts
The Restructured accounts are performing well and certain accounts got closed well before the due date.
Around 18% of amount repaid in restructuring accounts.
Around 3.7% of restructured accounts turned NPA.
We have not restructured any account during the first quarter of 2010-11.
Accounts turned as NPA during the first quarter of 2010-11 was NIL.
Balance outstanding on Restructured Accounts as on 30th June 2010 – Rs.3474.6 Mns
34
Income and Expenses break up
ParticularsMarch’ 10
( in INR mn)
March’ 09( in INR
mn) % Change
Interest expended 6,785 5,618 20.8%
Employee cost 801 650 23.2%
Other operating exp 857 746 14.9%
Total expenses 8,443 7,014 20.4%
Expenses break up
ParticularsMarch’ 10
( in INR mn)March’ 09
( in INR mn)%
Change
CEB & Charges 690 598 15%
Treasury Income 458 480 - 4.6%
Suit Recoveries 260 141 84%
Others 27 18 50%
Total Other Income 1435 1237 16.0%
Other income break up
ParticularsMarch’ 10
( in INR mn)March’ 09
( in INR mn) % Change
Interest on Loans 7,558 6,553 15.3%
Interest on Investments 1,937 1,424 36.0%
Other Interest Income 71 67 5.97%
Total expenses 9,566 8,044 18.9%
Interest income break up
35
Increasing employee efficiency
0.4 0.4
0.5 0.5
0.6
0.1
0.2
0.3
0.4
0.5
0.6
Mar-06 Mar-07 Mar-08 Mar-09 Mar-10
Profit/Employee (INR mn)
34.0 35.0
49.9
56.5
65.1
20
30
40
50
60
70
Mar-06 Mar-07 Mar-08 Mar-09 Mar-10
Business/ Employee (INR mn)
Growth in business per employee Steady rise in profit per employee
Our employee efficiency has been going up continuously as reflected by the above parameters
36
5. Strategy
37
Deposits
Achieve 30% growth in deposits & increase low cost deposits from 20% at present to 25% over 3 years
Broad base retail depositors to ensure stability
To improve depositor base from 0.8 mn to 1.25 mn; Focus on cross selling of products
Advances
Maintaining focus in retail/SME
sectors at around 65%
Continuing the high yielding cash
credit component at around 60% of
advances
Achieve steady growth of 25%
Income
Continued focus on high yielding retail &
SME credits
Improving fee income by way of exchange
& commission on non funded business
Increase fee income from cross selling of
insurance, mutual fund products, Online
Share trading money transfers & other
technology based services
Expenses
Improving staff productivity to lower
man power cost
Tight vigil on miscellaneous
expenditure
Maintain cost income ratio at the
present level of 40% (lowest in the
industry)
Our strategy is to focus on all these four aspects of banking business to capitalize on the growth opportunities going ahead
Our four pronged strategy going forward…
38
6. Recognitions
39
Ranking by Magazine – “The Chartered Financial Analyst”
40
No.1 in Customer Satisfaction awarded by IBA
Clusters 5 + 6
City Union Bank 96
Tamilnad Mercantile Bank 96
Karur Vysya Bank 94
Yes Bank 93
Ratnakar Bank 93
Lakshmi Vilas Bank 93
Indus Ind Bank 91
Nanital Bank 91
HSBC 88
Kotak Mahindra Bank 88
Indian Banks’ Association awarded City Union Bank as No.1 in Customer Satisfaction Study for IBA 2008 conducted by
GALLUP consulting.
Rank of Banks – Index – Bank within Clusters
Thank You