CITY Union Bank (CUB) Limited has opened is branch in Nagpur on Friday.
It is the 175th branch of the bank and the first in city.
The bank has its headoffice in Kumbhkonam in Tamil Nadu. The bank has
deposits and advances to the tune of Rs. 8,800 crore and branches in
Karnataka, Tamil Nadu, Maharashtra, Andhra Pradesh, Gujurat, West
Bengal, New Delhi and Pondicherry.
The bank which was established in 1904 as part of the Swadeshi Movement
has target of the business of 11,000 crore in the current fiscal. To act
as corporate agent for selling insurance products and to provide value
added services to the public at large, the bank has entered into
memorandum of understanding with LIC, National Insurance Company Limited
and Export credit Guarantee Corporation of India Limited.
