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City Union Bank conducted a conference call on 21 October 2024 to discuss the financial results for the quarter ended September 2024. Dr N Kamakodi, MD & CEO of the bank addressed the call:
Highlights:
The bank is completing 120 year of operations since inception on of 31 October 1904.
With the digital initiatives and strengthening of top management, the bank has visibility on the growth front. The bank expects to reach the industry level credit growth as soon as possible.
Digital MSME landing model would be expanded to secured retail lending such as housing, LAP etc.
The bank is also building up resources and capacity to push growth.
The bank expects to continue with the reducing slippages and improve recoveries.
The bank expects to continue to have a long term average RoA of 1.5%.
The bank expects its cost to Income ratio to remain elevated for the current year and improve ahead with the benefi...
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