CUB Full Form - City Union Bank Limited

What is CUB? The full form of CUB is City Union Bank. The head office of City Union Bank Limited, an Indian private bank, is located in Kumbakonam, Tamil Nadu. The bank was founded on October 31, 1904, and was first known as Kumbakonam Bank Limited. In the Tamil Nadu district of Thanjavur, the bank favored playing the role of a regional bank. The bank operated 1762 ATMs and 700 branches in FY2022, with a market capitalization of ₹93.62 billion (US$1.2 billion).

On October 31, 1904, the City Union Bank Limited was first established as a limited company under the name Kumbakonam Bank. In the beginning, the bank used an agency model and favored a regional role. In 1930, the first branch was established. The bank's name was changed to City Union Bank in 1987.

History of CBL

Throughout the City Union Bank Limited's illustrious history, a significant portion of its existence and development was centered on one individual in particular, Shri. V. Narayanan.

The bank has gained recognition and fame not only for itself but also for the entire banking industry in India thanks to the enviable leadership style of Shri. V. Narayanan, his vision for the bank's consistent growth in all areas, and his tireless efforts to enhance the bank's business, expand its branch network, maintain harmonious industrial relations, and ensure the remarkable achievement of not losing even a single man-day due to labor unrest-a record of sorts.

The financial outcomes of the bank throughout his tenure as Chairman attest to the fact that his catchphrase, "Take care of the bank; The bank will take care of you," has done wonders for raising employee morale and productivity. However, on November 5, 2004, the bank lost its distinguished Chairman, Shri. V. Narayanan, in an unanticipated vehicle accident outside of Chennai.

Following the untimely death of Shri. V. Narayanan, the responsibility of steering the bank towards realizing his aspirations fell to Shri. S. Balasubramanian. Balasubramanian had joined the bank in 1971 as an officer and had advanced to the position of Executive Director under the chairmanship of Shri. V. Narayanan. In accordance with the Reserve Bank of India's approval, the Board of Directors designated him as the Bank's Chairman and Chief Executive Officer, effective January 31, 2005.

Following approval from the Reserve Bank of India, the Board of Directors of the Bank named Shri. P. Vaidyanathan [a cost accountant, chartered accountant, and company secretary] as the Non Executive Chairman on April 27, 2009, and Shri. S. Balasubramanian as the Managing Director and Chief Executive Officer.

After serving for two years, Shri. P. Venkateswaran resigned from his position as the bank's non-executive chairman on April 26, 2011, and Shri. S. Balasubramanian resigned from his position as managing director and chief executive officer on April 30, 2011.

In compliance with the directives from the Reserve Bank of India, Dr. N. Kamakodi, B.Tech. MBA.PhD., and Shri. S. Balasubramanian, M.Sc. PGDFM.CAIIB, have taken on the roles of Non Executive Chairman and Executive Chairman, respectively.

With effect from May 1, 2011, CAIIB, who began working for the bank as a deputy general manager in June 2003, was promoted to general manager in March 2005, executive director in October 2006, and executive president in January 2011, has been named the bank's managing director and chief executive officer.