CUB

** 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)

(([email protected];))

** 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)

(([email protected];))

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

(([email protected];))

** 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)

(([email protected]))

** 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

(([email protected];))

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

(([email protected];))

** 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

(([email protected];))

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

(([email protected];))

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

(([email protected];;))

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

• REPAYS 1 BILLION RUPEES LOAN TO CITY UNION BANK

Further company coverage: SPJT.NS

(([email protected];))

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

(([email protected];))

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:

• CITY UNION BANK LTD - DIVIDEND 1 RUPEES PER SHARE

• INDIA'S CITY UNION BANK MARCH-QUARTER NET PROFIT 2.18 BILLION RUPEES VERSUS PROFIT 2.09 BILLION RUPEES

• CITY UNION BANK MARCH-QUARTER INTEREST EARNED 12.28 BILLION RUPEES VERSUS 10.5 BILLION RUPEES

• CITY UNION BANK MARCH-QUARTER PROVISIONS & CONTIGENCIES 1.59 BILLION RUPEES VERSUS 1.71 BILLION RUPEES

• CITY UNION BANK MARCH-QUARTER GROSS NPA 4.37 % VERSUS % 4.62% PREVIOUS QUARTER

• CITY UNION BANK MARCH-QUARTER NET NPA 2.36% VERSUS 2.67% PREVIOUS QUARTER

Source text for Eikon: ID:nBSE3RM4Nk

Further company coverage: CTBK.NS

(([email protected];))

** Shares of City Union Bank Ltd CTBK.NS rise as much as 9.6% after RBI approves re-appointment of N. Kamakodi as MD and CEO for three years

** Stock posts highest intraday pct gain since May 30, 2022

** Reappointment removes uncertainties around the lender after weak Q3, says Antique Stock Broking

** Stock crosses its 50-day exponential moving average for first time since Dec. 21, 2022, but remains below 100- and 200-day averages

** More than 18.3 mln shares change hands in early trade, 5x the 30-day avg

** Average rating of 21 analysts close to 'buy' with median PT of 180 rupees, a 35% premium to Wednesday's close - Refinitiv data

(Reporting by Dimpal Gulwani in Bengaluru)

(([email protected]))

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

• RE-APPOINTMENT OF MD & CEO OF CITY UNION BANK LTD

• RESERVE BANK OF INDIA GAVE APPROVAL FOR RE-APPOINTMENT APPOINTMENT OF N. KAMAKODI AS MD & CEO

• RE-APPOINTMENT FOR PERIOD OF 3 YEARS FROM MAY 1

Source text for Eikon: ID:nBSE3q8t9

Further company coverage: CTBK.NS

(([email protected];))

April 5 (Reuters) - City Union Bank Ltd CTBK.NS:

• GROSS ADVANCES FOR QUARTER ENDING MARCH 31 AT 439.48 BILLION RUPEES

• PROVISIONAL TOTAL DEPOSITS AT 523.99 BILLION RUPEES AS ON MARCH 31

• TOTAL BUSINESS FOR QTR ENDING MARCH 31 963.47 BLN RUPEES

Source text for Eikon: ID:nBSEbS1631

Further company coverage: CTBK.NS

(([email protected];))