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City Union Bank to open 60 more branches

City Union Bank plans to add 60 more branches to its existing network of around 435. The bank’s chairman S. Balasubramanian said 50% of the new branches would be located in tier-II and tier-III towns and cities of Tamil Nadu and 25% in Kerala, Karnataka, Andhra Pradesh and Telangana. The bank is targeting a 10-15% growth in business this fiscal. He said the bank is now putting off acceptance of bulk deposits. If credit picks up, the bank will accept corporate and bulk deposits, he said but will not offer interest above the card rate.

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