Company Profile

The bank, 'The Kumbakonam Bank Limited' as it was then called was incorporated a
s a limited company on 31st October,1904. The first Memorandum of Association wa
s signed by twenty devoted and prominent citizens of Kumbakonam including Sarvas
hri R. Santhanam Iyer, S.Krishna Iyer, V.Krishnaswami Iyengar and T.S.Raghavacha
riar. Shri T.S.Raghavachariar was the First Agent of the Bank. In 1908, he was
succeeded by Shri R. Santhanam Iyer who became the Secretary of the bank under t
he amended Articles of Association which created the office of a Secretary to be
in charge of the Bank's Management in the place of the Agent, which post he hel
d till his death in 1926. He was succeeded by Shri. S. Mahalinga Iyer as Secre
tary who subsequently became the First full-time Managing Director of the bank i
n tune with the amendment of Articles in 1929. He held the position of Secretar
y from 1926 to 1929 and that of Managing Director from 1929 to 1963.
The bank in the beginning preferred the role of a regional bank and
slowly but steadily built for itself a place in the Delta District Thanjavur.
The first Branch of the Bank was opened at Mannargudi on 24th January 1930.
Thereafter, branches were opened at Nagapattinam, Sannanallur, Ayyampet, Tirukat
tupalli, Tiruvarur, Manapparai, Mayuram and Porayar within a span of twenty
five years. The Bank was included in the Second Schedule of Reserve Bank of In
dia Act,1934, on 22nd March 1945.
The Bank celebrated it's Golden Jubilee on 14th November, 1954 at K
umbakonam under the Presidentship of Shri.C.R. Srinivasan, Editor, 'Swadesmitran
' & Director, Reserve Bank of India.
In 1957, the bank took over the assets and liabilities of the Commo
n Wealth Bank Limited and in the process annexed to it the five Branches of Comm
on Wealth Bank Limited at Aduthurai, Kodavasal, Valangaiman, Jayankondacholopura
m and Ariyalur.
In 1963, Shri. R. A.Venkataramani Iyer took charge as the Chairman
of the Bank which position he held upto 1969.
In April, 1965, two other local banks viz., 'The City Forward Bank
Limited' and 'The Union Bank Limited' were amalgamated with the Bank under a sch
eme of amalgamation with the resultant addition of six more branches viz., Kumba
konam-Town, Nannilam, Koradacherry, Tiruvidaimarudur, Tirupanandal and Kuttalam.
Consequently, the Bank's name was changed to 'The Kumbakonam City Union Bank Li
mited'.
In November 1965, the bank's first branch at Madras was opened at Th
iyagaraya Nagar. In May, 1969 the Bank secured the services of Shri. O.R. Srini
vasan, a former Officer of Reserve Bank of India to be at the helm of affairs
as Chairman and Chief Executive Officer which event proved to be a turning point
in the annals of the Bank. Under the new Management the Branch Expansion got a
fresh impetus and branches were opened at Eravancheri, Sembanarkoil, Tiruchirapa
lli, Madurai, Thanjavur, Dindigul, Keelapalur, Tirumakkottai, Kottur, Tiruvarur
Town and Coimbatore during the period from March, 1968 to August, 1973.
In April, 1974 the bank secured the services of Shri. K.Srinivasan,
another former Senior Officer of Reserve Bank of India as it's Secretary. At t
hat time a Young Chartered Accountant from Thippirajapuram, a village near Kumba
konam, Shri. V.Narayanan was appointed as Assistant Secretary of the Bank.
During the period ended 31-12-1976 Branches were opened at Periyaku
lam, Mandaveli (Madras), Pattukkottai, Triplicane (Madras), Cuddalore, Pudukkott
ai, Chidambaram and Salem.
When Shri. O.R.Srinivasan relinquished his office in June 1977, the
then Secretary Shri. K.Srinivasan was appointed as Chairman and Chief Executive
Officer of the Bank and Shri. V.Narayanan was elevated to the rank of the Secre
tary.
From July,1977 to September,1979 the bank has opened ten more branc
hes including those at George Town (Madras), Mount Road (Madras), Tirunelveli an
d Karaikudi.
The Bank celebrated its Platinum Jubilee on 9th December, 1979 at K
umbakonam with Dr. Rajah Sir M.A.Muthiah Chettiar, Shri. G.Rengasamy Moopanar, S
hri. Kosi.Mani and Shri. M.V.Arunachalam as Guests of Honour.
 In November, 1980, the then Secretary Shri. V.Narayanan, assumed ch
arge as the Chairman and Chief Executive Officer of the Bank consequent to the c
ompletion of the term by Shri. K.Srinivasan. The event opened a glorious chapt
er in the history of the bank.
The first branch outside the state of Tamilnadu was opened at Sultan
pet, Bangalore in Karnataka in September,1980. Branches were also opened at the
twin cities of Hyderabad and Secunderabad in Andhrapradesh. In tune with the n
ational image attached to the Bank, the Bank's name was changed to 'City Union B
ank Limited' with effect from December,1987.
The Bank started it's own Staff Training College on 21st August, 198
9 at Kumbakonam with the avowed objective of imparting need based and result ori
ented training to its Staff Members irrespective of the cadre.
Taking into account the bank's financial strength, managerial compet
ence and consistent progress in all spheres of its activities, Reserve Bank of I
ndia has granted an Authorised Dealers License to deal in Foreign Exchange busin
ess with effect from October, 1990.
The bank has introduced computerisation in the year 1990 and as of n
ow all the Branches have been computerised.
The Bank's Centenary Celebrations were inaugurated on 27th December,
2003 at the Saraswathi Patasala Girl's Higher Secondary School Grounds, Kumbakon
am under the Chairmanship of Shri. V.Narayanan with Shri. R.Venkataraman, Former
President of India, Dr.A.R.Lakshmanan, Judge, Supreme Court, New Delhi and Shri
. N.Rengachari, Retired Chairman, IRDA & Advisor to the Government of Andhra Pra
desh as distinguished Guests.
In the glorious history of City Union Bank Limited, nearly one third
of the period of it's existence and progress centered around a key person, name
ly, Shri.V.Narayanan. The enviable leadership style of Shri. V. Narayanan and hi
s vision for the consistent growth of the bank in all spheres, his tireless effo
rts in augmenting the Bank's Business, widening the branch network, maintaining
harmonious industrial relations, ensuring the unique achievement of not loosing
not even a single manday by way of labour unrest-a record of sort in the country
has earned name and fame not only for himself but to the bank in the entire Ban
king Industry in India. His famous words of 'Take care of the bank; The ban
k will take care of you' have made wonders enhancing the morale and improving t
he productivity of the workforce, the facts of which can be vouchsafed by the fi
nancial results of the bank during his tenure as Chairman. But the bank has los
t it's illustrious Chairman Shri.V.Narayanan in an unexpected car accident ne
ar chennai on 5th November, 2004.
With the irreparable loss of Shri. V.Narayanan, the mantle of leadi
ng the bank to make his dreams a reality has fallen on Shri.S.Balasubramanian, t
he then Executive Director, who has been appointed as the Chairman & Chief Execu
tive Officer of the Bank by the Board of Directors with the approval of Reserve
Bank of India with effect from 31-1-2005.
Sri. N. Kamakodi, the then General Manager has been elevated to the
rank of Executive Director.
To provide value added services, the Bank has entered into Memorand
a of understanding with Life Insurance Corporation of India and National Insuran
ce Company Limited for selling insurance products. The Bank has been accorded l
icense by Insurance Regulatory Authority of India [IRDA] to act as Corporate Age
nt.
The bank has entered into an agreement with Tata Consultancy Service
s Limited for introducing Core Banking Solution[CBS].As such all the branches ha
ve been brought under CBS as on date.
The bank has made arrangements with IDBI Bank Ltd., and UTI Bank Lt
d., for issuing at par cheques and sending outstation bills for collection.
Automated Teller Machines are available at select branches of the b
ank where the ATM Card holders can withdraw cash, make balance enquiries and obt
ain Statement of accounts.
The Bank has tied up with Export Credit & Guarantee Corporation Lim
ited [ECGC] for marketing export credit insurance products through its branch ne
twork.
The Bank has obtained License to function as Depository Participan
t under National Securities Depository Ltd.,
The Bank is having a network of 202 Branches spread in different pa
rts of our Country as on 01/02/2009
Managing Director and CEO. Shri S.Balasubramanian