City Union Bank board approves raising Rs 1,100 cr through equity, debt

Private sector City Union Bank on Monday said its board has approved the proposal to raise up to Rs 1,100 crore through equity and debt.

The lender will seek shareholders' approval for the fundraise plan at its upcoming AGM next month.

The board of directors in a meeting held on July 13, 2020 fixed August 14, 2020 as the date of ensuing annual general meeting (AGM) by way of video conferencing/other audio visual means, City Union Bank said in a regulatory filing.

The board of directors will seek approval of members in the AGM for "Raising further capital through QIP