City Union Bank

June 23 (Reuters) - City Union Bank Ltd CTBK.NS:

• CITY UNION BANK - PLANS TO RAISE 5 BILLION RUPEES VIA QIP

Source text: ID:nNSEbxMhv6

Further company coverage: CTBK.NS

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May 7 (Reuters) - City Union Bank Ltd CTBK.NS:

• CITY UNION BANK - APPROVAL OF RBI TO KOTAK MAHINDRA BANK FOR ACQUISITION OF MAJOR STAKE IN BANK

• CITY UNION BANK - RBI APPROVAL TO KOTAK MAHINDRA BANK FOR ACQUISITION OF 9.99% STAKE IN BANK

Source text: ID:nnAZN4SUUU6

Further company coverage: CTBK.NS

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**India's City Union Bank CTBK.NS jumps as much as 8.2% to its highest in two months at 293.51 rupees

** Co's Q4 net profit rises 45% to 3.59 billion Indian rupees ($38.03 million); interest earned increases 21% to 18.56 billion rupees

** Emkay Global ("Buy"; PT: 350 rupees) says going ahead, the bank expects to sustain high growth, led by MSME and secured retail loans, including gold, while margins are expected to be largely stable

** BOB Capital hikes PT to 340 rupees from 330 rupees, saying CTBK's strong capital position, above-system credit growth, and improving AQ metrics resulted in a steady return profile

**YTD, stock down 2.9%

($1 = 94.3900 Indian rupees)

(Reporting by Brijesh Patel in Bengaluru)

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April 27 (Reuters) - City Union Bank Ltd CTBK.NS:

• CITY UNION BANK LTD MARCH-QUARTER NET PROFIT 3.59 BILLION RUPEES

• CITY UNION BANK LTD MARCH-QUARTER INTEREST EARNED 8.55 BILLION RUPEES

• CITY UNION BANK LTD MARCH-QUARTER GROSS NPA 1.91%

• CITY UNION BANK Q4 PROVISIONS & CONTIGENCIES 1.2 BILLION RUPEES

• CITY UNION BANK LTD - RECOMMENDS DIVIDEND OF 2 RUPEES PER EQUITY SHARE FOR FY2025-26

• CITY UNION BANK LTD - APPROVES ISSUANCE OF BONUS SHARES IN RATIO OF 1:3

Source text: [ID:]

Further company coverage: CTBK.NS

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Feb 9 (Reuters) - City Union Bank Ltd CTBK.NS:

• CITY UNION BANK LTD - APPROVAL OF RBI FOR APPOINTMENT OF MD & CEO

• CITY UNION BANK LTD - APPROVAL OF RBI FOR APPOINTMENT OF R. VIJAY ANANDH AS MANAGING DIRECTOR & CEO OF BANK

Source text: ID:nBSE94gmfz

Further company coverage: CTBK.NS

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**India's City Union Bank CTBK.NS jumps 7.5% to 307 rupees

**Co's Q3 net profit rises 16.1% to 3.32 billion rupees ($36.76 million); interest earned increases 18% to 17.56 billion rupees

**Emkay Global ("Buy"; PT: 350 rupees) says that going ahead, the bank said it expects to sustain high growth, led by MSME/secured retail loans, including gold, and anticipates margins to be largely stable, aided by the full impact of the cash reserve ratio cut

**ICICI Direct Research says healthy loan growth, alongside sharp margin expansion and sustained improvement in asset quality supported overall quarterly performance

**YTD, stock up 5.5%

($1 = 90.3060 Indian rupees)

(Reporting by Mridula Kumar in Bengaluru)

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Feb 2 (Reuters) - City Union Bank Ltd CTBK.NS:

• CITY UNION BANK Q3 NET PROFIT 3.32 BILLION RUPEES

• CITY UNION BANK Q3 GROSS NPA 2.17%

• CITY UNION BANK Q3 INTEREST EARNED 17.56 BILLION RUPEES

• CITY UNION BANK Q3 PROVISIONS & CONTIGENCIES 960 MILLION RUPEES

Source

Further company coverage: CTBK.NS

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** Shares of South Indian Bank SIBK.NS rise 2.1% to 38.7 rupees

** Lender's provisional total deposits for quarter-ended Dec. 31 rises 12.2% Y/Y; gross advances up 11.3%

** Stock gained 53% in value last year, compared with 45% and 68% rise in peers Karur Vysya Bank KARU.NS and City Union Bank CTBK.NS, respectively

(Reporting by Aleef Jahan in Bengaluru)

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Dec 31 (Reuters) - City Union Bank Ltd CTBK.NS:

• RECEIVES TAX DEMAND ORDER WORTH 1.91 BILLION RUPEES

Source text: ID:nBSE3LyQxY

Further company coverage: CTBK.NS

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** Shares of City Union Bank CTBK.NS rise 2% to 219 rupees

** Private lender posts a 15.6% Y/Y rise in June-qtr net profit at 3.06 bln rupees ($34.92 mln), while gross non-performing assets fall to 2.99% Y/Y from 3.88% Y/Y

** Investec raises TP target price to 280 rupees from 260, implying 30.7% upside from last close; maintains "buy" rating

** Raises FY26/27 NIM estimates by 8/4 bps; PAT forecasts up 4/6% (RoA: 1.55/1.57%), partly offset by higher credit costs

** Says CTBK is top pick for its steady RoA, strong micro-market hold, clear growth path, and prudent risk approach

** CTBK rated "strong buy" by 22 analysts on average; median target price is 213.5 rupees – data compiled by LSEG

** Stock up 26% YTD

($1 = 87.6400 Indian rupees)

(Reporting by Rudra Pratap Singh in Bengaluru)

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** Shares of City Union Bank CTBK.NS up 3.6% at 180 rupees
** Private lender on Friday reported 13% rise in Q4 profit, while gross non-performing assets fell to 3.1% from 3.99%

** Emkay Global sayd headline asset quality continues to improve, while deposit growth too was overwhelming at 14% Y/Y

** At least seven analysts raise PT, taking median PT to 210 rupees from 204 rupees a month back; avg rating "strong buy"- LSEG data

** Including session gains, CTBK up 4% YTD

(Reporting by Sethuraman NR in Bengaluru)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected] ))

** Shares of South Indian Bank SIBK.NS up 3%, set for their best day in nearly a month

** Lender reports an about 12% year-on-year rise in Q3 gross advances, total deposit rises 6.3%

** Stock sees busiest day since Dec. 6, trading vols at 2 times their 30-day average

** SIBK gained 2% in 2024, compared with 28.5% and 16% rise in peers Karur Vysya Bank KARU.NS and City Union Bank CTBK.NS, respectively

(Reporitng by Nishit Navin)

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** City Union Bank CTBK.NS climbs 12% to 168.7 rupees; eyes biggest intraday pct gain since Nov. 2020

** Stock top gainer on Nifty private bank index .NIFPVTBNK, which is down 0.63%

** Lender posts ~2% rise in Q2 net profit, 10% gain in interest earned y/y

** Emkay Research says better credit growth and margin delivery on account of growth in its core agricultural and non-agricultural gold loan

** Upgrades to "add" from "reduce"; hikes PT to 170 rupees from 160 rupees

** Adds, meaningful traction in retail business to further accelerate growth

** More than 12.2 mln shares traded, 5.5x the 30-day avg

** YTD, stock up 11% vs NIFPVTBNK's ~4% gain

(Reporting by Ashna Teresa Britto in Bengaluru)

(([email protected] ; ( +91 8078332441))

** Shares of India's City Union Bank CTBK.NS jump as much as 9.4% to 174.80 rupees, with trading vols 2x the 30-day avg

** Lender's Q1 advances grew 10% y/y and company forecast improving credit growth in FY25

** Antique Stock Broking says results were broadly in line with its estimates and notes improved loan growth; keeps "buy" and hikes TP to 190 rupees from 185 rupees

** IDBI Capital upgrades to "buy", noting CTBK's 10% credit growth came in a seasonally weak qtr and expects it to improve further

** At least 8 of 19 analysts upgrade the stock and 6 raise TPs; mean rating stays at 'buy' and median PT rises to 180 rupees -LSEG data

** Stock last up 7.4%, doubling its YTD gains

(Reporting by Hritam Mukherjee in Bengaluru)

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July 26 (Reuters) - City Union Bank Ltd CTBK.NS:

• CITY UNION BANK- APPROVED RAISING OF FUNDS UP TO 5 BILLION RUPEES

Source text for Eikon: ID:nNSE9C9vlN

Further company coverage: CTBK.NS

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** Public sector banks' discount to private banks close to historic lows, Macquarie says, a positive for the latter

** Adds, State Bank of India's SBI.NS valuations compared to private peers Axis Bank AXBK.NS and HDFC Bank HDBK.NS show discount is now 1-standard deviation below historic averages

** "There is a clear preference for private sector banks among financials," says Macquarie, citing steady earnings outlook as they will be less affected by Expected Credit Losses (ECL) regulations and carry contingent buffers

** Bottoming out of credit costs, likely impact due to regulations point towards lower return on assets, profitability for India' state-owned lenders, says Macquarie

** Last week, brokerage upgraded Kotak Mahindra Bank KTKM.NS to "outperform" from "neutral", while also upgrading City Union Bank CTBK.NS and Bandhan BankBANH.NS

** India's Nifty private bank index .NIFPVTBNK up 3.63% so far in 2024, underperforming 8.3% rise in Nifty 50 .NSEI index

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))

** Private lenders Kotak Mahindra Bank KTKM.NS and City Union Bank CTBK.NS up 1.6% and 4.4% each

** Both stocks among top gainers on the Nifty private bank index .NIFPVTBNK, which is up 0.1%

** Macquarie upgrades KTKM and CTBK to "outperform" from "neutral"

** Prefers private banks over public sector banks (PSU), non-banking financial cos (NBFCs), insurance and fintech cos, "owing to regulations and declining fundamentals"

** Adds, private sector banks are at attractive valuations, see no adverse asset quality outlook

*** Adds, a delayed rate cut cycle further cushions their net interest margin (NIM) in the near term

** Despite lower-growth environment, expect private banks to report healthy returns on assets and equity as they are less affected by regulations - Macquarie

** Private banks .NIFPVTBNK and public sector banks .NIFTYPSU up ~3% and ~31% YTD, respectively, compared to an 8% rise in Nifty 50 index .NSEI

(Reporting by Dimpal Gulwani in Bengaluru)

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** Shares of Indian private lender City Union Bank CTBK.NS down 5.4% at 144.9 rupees, its worst intra-day drop since Aug 2023

** Co on Monday reported Q4 profit slightly below analysts' estimates

** Recovery in loan growth momentum is crucial for operating leverage benefits and any potential stock re-rating, HDFC Securities said in a note

** CTBK needs to solve for growth, given pressure on margins from deposit repricing, potential rate cut cycle in H2FY25 - HDFC

** CTBK shares down 2.8% YTD vs 0.6% drop in bank index .NSEBANK and 12% gains in small-cap index .NIFSMCP100

(Reporting by Sethuraman NR in Bengaluru)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

May 20 (Reuters) - City Union Bank Ltd CTBK.NS:

• NET INTEREST MARGIN IS AT 3.66% FOR Q4 FY24

Further company coverage: CTBK.NS

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Adds chart of top purchases and sales by mutual funds

** India's HDFC Bank HDBK.NS was the top buy for Indian mutual funds in Feb, with purchases worth 82.8 bln rupees (~$999 mln), Nuvama says in a note

** That came after HDFC Bank's shares slid 14% in Jan and 4% in Feb following dissappointing Q3 results

** Mutual funds sold 22.9 bln rupees worth Sun Pharma SUN.NS shares in Feb and 6.5 bln rupees of Bandhan Bank BANH.NS, Nuvama Alternative & Quantitative Research says

** Adds fund houses bought 30.7 bln rupees of Whirlpool of India shares WHIR.NS; US-based Whirlpool WHR.N sold a chunk of its stake in its India unit in Feb

** TCS TCS.NS, Bharat Petroleum BPCL.NS, Axis Bank AXBK.NS and Maruti Suzuki MRTI.NS were among top additions in large caps, Nuvama says

** Top reductions included Bajaj Finance BJFN.NS, Mahindra and Mahindra MAHM.NS, Infosys INFY.NS, says Nuvama

($1 = 82.8900 Indian rupees)

(Reporting by Sethuraman NR in Bengaluru)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

Feb 1 (Reuters) - City Union Bank Ltd CTBK.NS:

• CITY UNION BANK DEC-QUARTER NET PROFIT 2.53 BILLION RUPEES VERSUS PROFIT 2.18 BILLION RUPEES

• CITY UNION BANK DEC-QUARTER INTEREST EARNED 13.26 BILLION RUPEES VERSUS 12.06 BILLION RUPEES

• CITY UNION BANK DEC -QUARTER GROSS NPA 4.47% VERSUS 4.66% PREVIOUS QUARTER

• CITY UNION BANK DEC-QUARTER NET NPA 2.19 % VERSUS 2.34% PREVIOUS QUARTER

• CITY UNION BANK DEC-QUARTER PROVISIONS & CONTIGENCIES 460 MILLION RUPEES VERSUS 2.25 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: CTBK.NS

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** IndusInd Bank INBK.NS jumps nearly 2% to 4-1/2 year high of 1,599.90 rupees

** Brokerage Sharekhan expects IndusInd's earnings growth to outpace the sector, led by stable margins, above industry-avg loan growth and improving credit costs

** Sharekhan maintains "buy" and raises PT to 1,850 rupees vs analysts' median PT of 1,700 rupees, per LSEG data

** Sharekhan expects IndusInd's net interest margins (NIM) to remain stable at ~4.3% for FY24, outperforming peers

** Last week, Antique Stock Broking raised its PT on INBK to 1,800 rupees on positive earnings outlook

** Analaysts avg rating on INBK is "buy," similar to peers Bandhan Bank BANH.NS and City Union Bank CTBK.NS -LSEG data

** INBK's ~30% YTD rise outperforms Nifty Bank index's .NSEBANK ~12% growth

(Reporitng by Nishit Navin in Bengaluru)

(([email protected];))

Oct 27 (Reuters) - City Union Bank Ltd CTBK.NS:

• INDIA'S CITY UNION BANK SEPT-QUARTER NET PROFIT 2.81 BILLION RUPEES VERSUS PROFIT 2.76 BILLION RUPEES

• CITY UNION BANK SEPT-QUARTER GROSS NPA 4.66% VERSUS 4.91% PREVIOUS QUARTER

• CITY UNION BANK SEPT-QUARTER INTEREST EARNED 13.04 BILLION RUPEES VERSUS 11.81 BILLION RUPEES

• CITY UNION BANK SEPT-QUARTER PROVISIONS & CONTIGENCIES 560 MILLION RUPEES VERSUS 1.05 BILLION RUPEES

• CITY UNION BANK SEPT-QUARTER NET NPA 2.34% VERSUS 2.51% PREVIOUS QUARTER

Source text for Eikon: [ID:]

Further company coverage: CTBK.NS

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Sept 21 (Reuters) - City Union Bank Ltd CTBK.NS:

• RBI ACCORDED APPROVAL TO HDFC ASSET MANAGEMENT CO TO ACQUIRE UPTO 9.5% STAKE IN CO

Further company coverage: CTBK.NS

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Aug 11 (Reuters) - City Union Bank Ltd CTBK.NS:

• INDIA'S CITY UNION BANK JUNE-QUARTER NET PROFIT 2.27 BILLION RUPEES VERSUS PROFIT 2.25 BILLION RUPEES

• CITY UNION BANK JUNE-QUARTER INTEREST EARNED 12.66 BILLION RUPEES VERSUS 10.99 BILLION RUPEES

• CITY UNION BANK JUNE-QUARTER PROVISIONS & CONTIGENCIES 1.52 BILLION RUPEES VERSUS 1.52 BILLION RUPEES

• CITY UNION BANK JUNE-QUARTER GROSS NPA 4.91% VERSUS 4.37% PREVIOUS QUARTER

• CITY UNION BANK JUNE-QUARTER NET NPA 2.51% VERSUS 2.36% PREVIOUS QUARTER

Further company coverage: CTBK.NS

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July 3 (Reuters) - SpiceJet Ltd SPJT.NS:

• REPAYS 1 BILLION RUPEES LOAN TO CITY UNION BANK

Further company coverage: SPJT.NS

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June 26 (Reuters) - City Union Bank Ltd CTBK.NS:

• APPROVED THE AGENDA FOR RAISING FURTHER CAPITAL THROUGH QIP ROUTE TO TUNE OF 5 BILLION RUPEES

Source text for Eikon: ID:nNSEbplHZn

Further company coverage: CTBK.NS

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City Union Bank Ltd CTBK.NS:

• CITY UNION BANK LTD- TO CONSIDER RAISING OF CAPITAL

Source text for Eikon: ID:nBSE2lTbT7

Further company coverage: CTBK.NS

** City Union Bank CTBK.NS fall ~9% to 127 rupees in heavy volume, set for worst day in 3 months, as Q4 results disappoint

** At least four brokerages cut their rating on the stock and 10 cut their price target, per Refinitiv data

** Lender reports 4% rise in Q4 net profit, but brokers note "weak" fundamentals, incl net interest margin (NIM) pressure

** ICICI notes soft growth outlook, elevated gross slippages (a loan becoming an NPA) and credit costs and expects continued pressure on NIM

** Kotak says CTBK is "one of the slowest banks" to recover from COVID and expects weak rev growth on high slippages, weak loan and deposit growth

** Despite the downgrades, analysts avg rating on CTBK stays at the equivalent of 'buy', while median PT drops by 1 rupee to 179 rupees - Refinitiv data

** About 14 mln shares traded, stock's busiest day since Apr 27 when RBI approval for re-appointment of City Union's MD, CEO

(Reporting by Ashna Teresa Britto in Bengaluru)

(([email protected] ; ( +91 8078332441))

May 26 (Reuters) - City Union Bank Ltd CTBK.NS:

• NET INTEREST MARGIN FOR Q4 FY23 AT 3.65%

Source text for Eikon: ID:nBSE2rFkhS

Further company coverage: CTBK.NS

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